The burning of fossil fuels accounts for 75 percent of global greenhouse gas emissions and 90 percent of carbon dioxide emissions. Companies drill for oil and gas and dig up coal to be traded, marketed, and sold. As people baked in their homes and sweated out on the streets, Shell announced today that it will deliver $3 billion to shareholders through stock buybacks over the next three months; like ExxonMobil and BP, Shell enjoyed record profits last year and recently stated that it’s rolling back earlier plans to invest more in low-carbon ventures, committing to double down on fossil fuel extraction.
Biden did reserve some anger in his speech for a “MAGA extremist Congress” that wants to repeal the IRA and negate its investments in low-carbon technologies. Speaking with San Antonio Mayor Ron Nirenberg, who attended the event via video link, Biden made a jab too at a recent Texas state law that will abolish a long list of initiatives put in place by Nirenberg and other Democratic mayors, including workplace protections against high temperatures.
“What’s going on with some of this stuff?” Biden asked, off-script, referencing the fact that the “Death Star” law will end city-level provisions mandating that construction workers get regular water breaks.