CERAWeek: A Celebration of Big Oil's Climate Deception

Four things you should know about this week's fossil fuel conference

Photo: Mark Felix/AFP via Getty Images

As the world grapples with the urgent need to address climate change, a group of wealthy and powerful individuals gather in Houston for CERAWeek, a global energy conference that seems more like a celebration of the fossil fuel industry's continued dominance. 

With entry fees ranging from $1,750 to $9,500, this exclusive event brings together executives from giants like ExxonMobil, Shell, and Chevron – the very same companies that have spent decades spreading climate disinformation and hindering progress towards a sustainable future. 

It's time to shine a light on the hypocrisy and greed that underlies this gathering and demand accountability from those who prioritize profits over the planet.

Here are the four things you should know during CERAWeek:

1. Despite international calls for transitioning from fossil fuels, Big Oil shows no intention of slowing down.

   • "We should abandon the fantasy of phasing out oil and gas,” said one fossil fuel CEO at the opening of this year’s CERAWeek. 

   • Recent megadeals from ExxonMobil, Chevron, and Occidental signal that companies expect to keep communities hooked on oil and gas for decades, pumping with abandon as the planet burns.

2. Fossil fuel CEOs care more about padding their pockets than protecting our communities. 

   • ExxonMobil CEO Darren Woods says that getting to net zero is too expensive for Big Oil. Meanwhile, Exxon made $36 billion in profit in 2023.

   • Woods said in Houston this week, “There isn't a lot of incentives,” to investing in low-emissions projects.

3. People want Big Oil to pay for climate damages. 

   • While CEOs line their pockets and pay off Wall Street, new data shows that fossil fuel companies are responsible for billions of dollars in climate damages each year. 

   • Data shows that 70% of Americans support making fossil fuel companies pay for the harms caused by climate change, with 77% agreeing that if oil and gas companies knew that their products were hurting the climate and lied about it, they should pay some of the costs for the damages we're now experiencing. 

   • Lawsuits and legislation holding Big Oil accountable for climate damages are growing momentum across the country.

4. Big Oil is pointing the finger at us. 

   • Big Oil is working hard to put the blame for the climate crisis onto consumers. 

   • Exxon CEO Darren Woods admitted yesterday that there was little chance to meet the 2050 target, stating, “While society wants to see emissions reduced, no one wants to pay for it.”

   • The Intergovernmental Panel on Climate Change (IPCC) has found that emissions from fossil fuels are the dominant cause of global warming. In 2018, 89% of global CO2 emissions came from fossil fuels and industry.

CERAWeek serves as a stark reminder of the entrenched power and influence of the fossil fuel industry, even as the world faces the deadly consequences of climate change. The lavish gatherings and tone-deaf statements from Big Oil executives demonstrate their unwillingness to take responsibility for the damage they have caused and their determination to maintain the status quo. 

However, the growing momentum behind lawsuits, legislation, and public opinion demanding accountability from these companies offers a glimmer of hope. It is up to all of us to amplify these voices, support the call for investigations into Big Oil's deception, and push for a just transition to a clean energy future.