$93 Billion Windfall: Oil Companies Cash In on War and Climate Crisis

Eight of the world's biggest oil companies made over $93 billion in profits during the first three months of this year, as global energy prices soared due to the conflict in Iran and the ongoing climate crisis.

The profits, which were revealed by The Guardian, are a significant increase from just under $50 billion in the same period last year, with companies such as Saudi Aramco and BP seeing their market valuations swell by over $600 billion to above $3 trillion.

The data suggests that these oil companies made more than $700,000 of profit every minute during this quarter, while temperatures reached deadly highs across the world, leading to heatwaves and droughts in many countries.

BP's quarterly profits hit a record high of $5.73 billion, with the company's new CEO, Meg O'Neill, defending their profits by saying they are 'focused on the things we can do to try to help address the situation'.

However, critics argue that these companies are making huge profits while ordinary families struggle with high energy bills and a rapidly accelerating climate crisis.