Woodside Energy, Australia’s biggest oil and gas company, has scrapped its long-term emissions and clean energy targets, even after enjoying a period of windfall oil profits caused by the war on Iran. The energy giant is doubling down on fossil fuels after recording a 27% increase in sales profit to $1.67bn ($A2.33bn) in the six-month reporting period, and is expecting even more financial gains by redirecting barrels of oil to markets willing to pay premium prices.
Windfall profits and fossil fuel focus
Woodside said it would drop its commitment to invest $US5bn in new energy products, such as hydrogen, by 2030. While Woodside is just one of a growing list of large oil companies amassing windfall profits, a recent run of deadly heatwaves in the northern hemisphere, made more likely and more severe by burning fossil fuels, has reignited calls for companies like Woodside to shoulder the growing environmental costs of rising temperatures.
Top news and environmental concerns
In other news, a Scots College trio who allegedly sexually assaulted a teen girl have faced ‘repercussions’, a judge has said. Major Sydney property developer collapses after ‘perfect storm’, leaving buyers in limbo. Sydney shark attack survivor describes moment she came face-to-face with ‘monster’. Ralph Carr, entertainment industry and AFL figure, sentenced to six years for ‘predatory’ rape of ex-staffer. eHarmony deceived Australian customers with ‘subscription traps’ that cost hundreds of dollars, a court found.
Woolworths’ latest Disney Ooshie collectibles have not only captivated Australian children, they have led to a short-term slump in competitor Coles’ sales, according to figures. Ooshies, designed to fit on to the top of pens or pencils – in the shape of Disney, Marvel and Star Wars characters – have been popular with children who trade them at home or school in an attempt to collect all 40 characters. But the collectible craze is not without controversy. Environmental groups are concerned about the volume of plastic that will eventually end up in landfill.
Voices and international moves
Author and environmental activist Tim Winton wrote in the Guardian about how the dangerous conditions climate scientists long warned of “have become our common”. “There’s nothing accidental or inadvertent about what we’re all suffering through together,” Winton wrote, “This is something that is being done to us. Knowingly. Which makes it a crime.”
Andy Burnham is making his first foreign visit as British prime minister to Ukraine, marking the country’s independence day. Lucy Hough speaks to senior international correspondent Luke Harding about how Burnham will use the trip to pledge military support and diplomatic backing to Ukraine.
After repairs to Hirosaki Castle in Aomori prefecture, officials employed a technique known as hikiya - whereby buildings are put on rollers and moved rather than dismantled – to shift the structure more than 2 metres. It took 1,800 people to drag the 360-tonne structure using ropes and rollers.
