Good afternoon.Woodside Energy, Australia’s biggest oil and gas company, has scrapped its long-term emissions and clean energy targets, even after enjoying a period of windfall oil profits caused by the war on Iran.
As Jonathan Barrett reports, the energy giant is doubling down on fossil fuels after recording a 27% increase in sales profit to $1.67bn ($A2.33bn) in the six-month reporting period, and is expecting even more financial gains by redirecting barrels of oil to markets willing to pay premium prices.While Woodside is just one of a growing list of large oil companies amassing windfall profits, a recent run of deadly heatwaves in the northern hemisphere, made more likely and more severe by burning fossil fuels, has reignited calls for companies like Woodside to shoulder the growing environmental costs of rising temperatures.Top news
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