Big Oil fuelling global heatwaves while 'making a killing': Oxfam calls for windfall tax to fund adaptation
India, July 28 -- The world's six largest fossil fuel corporations are expected to nearly double their combined net income in the second quarter of 2026, even as their emissions continue to intensify deadly heatwaves, according to a new analysis by international aid organisation Oxfam.
The analysis projects that BP, Chevron, Eni, ExxonMobil, Shell and TotalEnergies will collectively earn $45 billion in net income during April-June 2026, up from $23 billion in the previous quarter.
Much of the impact of these heatwaves are felt by countries that have contributed very little to climate change and have the least resources to cope with the impacts. They need external financial support to adapt and taxing the richest fossil fuel companies on...
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