Big Oil profits are soaring while extreme heat waves scorch the planet this summer

This summer, millions of people have felt the dire consequences of climate change while facing extreme, record-breaking heat. And the Big Oil companies fueling those heat waves are seeing their profits soar, a new analysis finds. In the first quarter of 2026, the world’s six biggest oil companies—BP, Chevron, Eni, ExxonMobil, Shell, and TotalEnergies—saw a combined net income of $23 billion. For Q2, that figure is expected to nearly double to $45 billion, according to an Oxfam report based on financial analysts’ forecasts. For the entirety of 2026, those companies are projected to have full...