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  • Nov 1, 2023 | scientificamerican.com | Lucas Chancel |Gregor Semieniuk

    Oil and gas industries just enjoyed a bumper profit year, with shareholders seeing record payouts. In its wake, Europe’s Shell and BP both walked back on their ambitious low-carbon transition plans, with firms across the sector increasing their investing in new production. That’s not good news for climate change, largely driven by burning fossil fuels.

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