The latest quarterly figures of the largest oil and gas companies show how far apart political goals and economic reality are: At the last World Climate Conference, countries agreed to „transition away from fossil fuels in the energy system.“ However, oil and gas companies are once again reporting high profits in the first half of 2024. They are paying out tens of billions of US dollars to their shareholders instead of investing the money in the energy transition. A significant reduction in oil and gas production is not in sight, as countries such as the United States, Russia, Norway and Brazil are awarding hundreds of new drilling licenses.