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WEKU
WEKU
Camila Domonoske

Making oil is more profitable than saving the planet. These numbers tell the story

Oil Dan Pickering British Petroleum ExxonMobil Mario Tama Exxon OPEC the International Energy Agency
An oil pump jack stands near a field of wind turbines in Nolan, Texas, on Oct. 4. Oil companies are under pressure to pivot more swiftly toward renewable energy. Here's one reason why that's not happening so quickly: It's still incredibly lucrative to sell oil. (Brandon Bell/Getty Images)

Oil companies have long been under pressure to invest more money into renewable energy to help fight climate change. Here's one simple reason why that's not happening: Right now, oil makes a lot more money.

Energy companies spend a lot of money every year. Picture a giant Scrooge McDuck-style mountain of cash, to the tune of $800 billion.

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