Climate change is already affecting our Earth, and oil companies – some of the largest contributors to climate change – are responding. They rake in billions of dollars pumping fossil fuels, but consumers have begun favoring “green” options like electric cars.
How they react to this reality will have tremendous impacts on the Earth – and on us.
Many Americans – including the President – refuse to believe climate science; and Republicans have passed countless laws weakening environmental regulations. In Europe the science is more accepted.
As a result, American and European oil companies have taken VERY different approaches to the climate crisis.
While European companies like BP are shifting to invest in renewable energy, American companies like Exxon and Shell are doubling down on fossil fuels. This could mean disaster – especially for Black America.
The negative impacts of climate change, such as asthma, cancer, and extreme weather events, are worst for Black Americans. It will also hit the American South – where most Black Americans live – the worst. The health impacts aren’t even the full story, however.
The economic impact of climate change cannot be understated – and it also impacts people of color hardest. Some estimates put the cost at hundreds of billions of dollars per year, and it could push hundreds of millions of people into poverty by 2030.