In addition to the horrific loss of human life, campaigners say the crisis highlights how dependence on fossil fuels enriches the few at the expense of the many. The analysis estimates that rising oil and gas prices have already cost consumers and businesses an additional $104.2–$111.6 billion. Impacts have been sharp and immediate, from textile factory layoffs in Bangladesh, to fuel rationing in Kenya, to a looming recession in the United States.

Trump administration will pay $1 billion to French energy giant TotalEnergies to abandon two U.S. offshore wind leases, the campaign group 350.org condemned the move as a reckless misuse of public funds that undermines clean energy progress and locks in future energy insecurity.