Oil companies revert to form

So, here's a depressing article: Oil giants ramp up hunt for new deposits.

Since Russia's invasion of Ukraine, the price of oil and gas has spiked, and the major European oil companies in particular have lost no time in pivoting (as they say) back to their old traditional oil-and-gas business. The development of new deposits, and the search for new potential reserves, is on in earnest once more. It's the Wild West all over again.

Companies like Shell and BP, which talked a good game about their transition to a more forward-looking, longer term, more environmental focus on renewable energy, have suddenly reverted back to their base business of fossil fuel extraction. Record profits, and the promise of more, will do that.

I guess it was never about doing the right thing after all; it was all a matter of chasing after short-term profits for their rapacious shareholders. If arms sales were more profitable, they would get into that too (well, actually...)

It doesn't come as a surprise. But it is, nevertheless, infinitely depressing.