Oxfam: Six Fossil Fuel Giants Projected to Earn $2,967/Second in 2026; Majority Back Windfall Tax for Clean Energy

Oxfam released a major report on April 26 showing six major fossil fuel companies are projected to earn approximately $2,967 per second in profits in 2026, totaling tens of billions annually. The report cited polling showing three times as many citizens globally support investment in renewable energy over increased fossil fuel extraction, and that 68% of respondents support windfall taxes on fossil fuel profits to fund the clean energy transition. The report was released two days before the high-level phase of the First International Conference on Transitioning Away from Fossil Fuels in Santa Marta, Colombia (April 28-29), adding political momentum to the summit's push for legally binding fossil fuel phase-out instruments and transition finance mechanisms.