Kratek odgovor na podlagi nove raziskave Isabelle Weber in kolegov se glasi: Amerika in naftna industrija, ki je skupaj dobila za dodatnih 275 milijard dolarjev v obliki višjih dobičkov. Dobički ruskih družb so se povečali za polovico glede na povprečje let 2016-2019, dobički saudijskih družb za 2-krat, dobički ameriških družb pa kar za 6-krat. Ta energetska kriza zaradi vojne v Ukrajini je bila bonanza za ameriško naftno industrijo.

No, natančneje, profitirali so lastniki delnic ameriške naftne industrije. Zgornji 1 % najbolj premožnih Američanov je dobil 51 % tega dobička, spodnjih 50 % prebivalstva pa le 1 %. Pa še višjo inflacijo so dobili za zraven (tisti z nižjimi dohodki imajo drugačen indeks cen zaradi drugačne strukture potrošnje.

The 2022 fossil fuel price jumps caused an oil and gas profit explosion. We show the US reaped the largest profit increase (USD 275 bn) of any country. Big Oil claims this benefits the American people. In fact, 51% went to the richest 1%, only 1% to the bottom 50%. 

This new working paper has been the outcome of an interdisciplinary collaboration with high powered modelers and wonderful colleagues. 

Link: scholarworks.umass.edu/server/api/cor…

At the height of the global energy crisis in 2022 that threw people around the world into energy poverty, quarterly net profits in stock market-listed oil and gas companies were at a record globally, peaking in quarter 2.

@GregorSemieniuk @BJMbraun @JFMercure @PabloSalasB The US is the #1 beneficiary of the global fossil fuel price explosion: US listed companies had the largest profit increase in 2022 relative to recent averages, making the US the country with the highest profits earned (US$ 301 billion), overtaking Saudi Arabia & Russia.  Profits of US headquartered, listed companies (US$ 301 billion) far exceeded total U.S. investments in the low carbon economy (US$266 billion) in 2022. A reminder of how far away we are from a green transition. 

Since 2021, the stock market valuation of fossil-fuel companies diverged sharply from that of renewable energy companies. The total global & US volumes of profits earned by renewable energy companies is dwarfed by those of fossil fuel companies. 

We use company income & ownership data to construct a global network of shareholdings with 397,619 nodes including private companies. The diagram shows how 2022 fossil fuel profits are intermediated until they reach ultimate U.S. beneficiaries. Not much goes to pension funds.

The distribution of fossil fuel profits exacerbates existing inequalities. 64% of households are white but claim 87% of profits. 14% of households are Black but only get 3% and 10% are Hispanic but get a mere 1%. 51% go to the richest 1%, just 1% to the bottom 50%.

Inflation differs across income groups as consumption baskets’ prices rise at different rates (round dot). But fossil fuel profit flows alone also compensate large shares of inflation for the rich sharply increasing the inequality in inflation burdens (squares and disks). 9/

Policy implications:

Curbing high oil & gas profits could reduce income inequality in times of high energy-induced inflation.

Taxing 2022 incremental US profits could have paid to double investments in the low-carbon energy sector from $266 to $540 bn that year.

Vir: Isabella Weber via X