Trump’s Iran war may stymie climate gains with boost to big oil, experts say

Windfall profits could lock in Trump-era political wins for the industry and slow clean-energy transition The billions in profits big oil is reaping due to the Iran war may stymie the energy transition, experts and advocates fear, incentivizing oil and gas expansion and boosting the sector’s funds for political lobbying. “Windfall profits from Trump’s war will allow big oil to build a wall of money around its Trump-era political victories,” said Lukas Shankar-Ross, a deputy director at the green group Friends of the Earth. Continue reading...

Dharna Noor · Thu, May 7, 2026, 4:30 AM
US news | The Guardian

Trump’s Iran war may stymie climate gains with boost to big oil, experts say

Windfall profits could lock in Trump-era political wins for the industry and slow clean-energy transition

The billions in profits big oil is reaping due to the Iran war may stymie the energy transition, experts and advocates fear, incentivizing oil and gas expansion and boosting the sector’s funds for political lobbying.

“Windfall profits from Trump’s war will allow big oil to build a wall of money around its Trump-era political victories,” said Lukas Shankar-Ross, a deputy director at the green group Friends of the Earth.

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