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An analysis by Transport & Environment found that eight oil companies made €7.5 billion in excess profits attributed to the European Union during the first six months of 2026. The organization is calling for a permanent tax on these profits and for funding measures that reduce drivers’ exposure to fluctuations in fossil-fuel prices.
The state of Michigan filed a federal antitrust lawsuit against BP, Chevron, Exxon Mobil, Shell, and the American Petroleum Institute, accusing them of coordinating to slow the growth of electric vehicles and renewable energy and increase energy costs. The defendants deny the allegations, calling the lawsuit a coordinated campaign and judicial interference in energy policy.