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Velshi: Oil drilling is wildly profitable. But some things are more important

04:21

Fossil fuel companies like ExxonMobil, Shell, BP, and Chevron have leased the rights to drill on federal oil and gas reserves in the Gulf. The companies bid on 308 tracts totaling 2,700 square miles for a combined $192 million. It’s one of the largest oil and gas leases in American history. Scientists say the world needs to be well on its way to cutting greenhouse gas emissions by the year 2030. Or risk climate change calamity. This latest round of oil & gas leases means companies can produce oil long past that deadline. We are going to have to decide that some things, like an earth that can continue to sustain human life, are actually more important than cheap and convenient but filthy, deadly energy. And until we make that decision, wildfires will burn hotter, hurricanes will hit harder, and glaciers will melt faster.