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Wealthy Exceed Carbon Budgets, Urged to Pay for Pollution

1/13/2026

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Wealthy Polluters Exceed Limits

Oxfam finds the wealthiest exceeded their carbon budgets in early 2026, with the richest 1% using up their allowance in 10 days.
The top 0.01% exhausted their carbon budget in 72 hours.
Oxfam calls for a wealth tax on polluters and a ban on carbon-intensive luxury items.
The report warns ultra-wealthy emissions could cause 1.3 million heat-related deaths and $44 trillion in losses by 2050, especially in low-income countries.

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US Exploits Venezuela's Oil

An analysis warns that the United States plans to exploit Venezuela's oil reserves could consume over 10% of the carbon budget to limit warming to 1.5°C by 2050.
Venezuela's Orinoco Belt has the highest carbon intensity among major oil regions.
Environmentalists criticize the United States approach as reckless and urge a transition from fossil fuels.
Canadian leaders push for new pipelines despite environmental concerns and doubts about long-term oil demand.

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Wealthy Polluters Exceed Limits

Oxfam finds the wealthiest exceeded their carbon budgets in early 2026, with the richest 1% using up their allowance in 10 days.
The top 0.01% exhausted their carbon budget in 72 hours.
Oxfam calls for a wealth tax on polluters and a ban on carbon-intensive luxury items.
The report warns ultra-wealthy emissions could cause 1.3 million heat-related deaths and $44 trillion in losses by 2050, especially in low-income countries.

1 / 2