The French oil company TotalEnergies has announced plans to boost its oil and gas production by 2 to 3 percent annually between 2030 and 2035. This commitment was revealed during an investor day in New York on September 28. The company aims to increase its liquefied natural gas (LNG) production by 40 percent from 2020 to 2030 and intends to keep fossil fuels as the dominant part of its energy mix, targeting around 80 percent. This means the company will produce more fossil fuels than in any previous year, with plans to bring to market significantly more than it did in 2015. Maxime Combes, an economist and member of the environmental group Attac, argues that current climate legislation is not strong enough to regulate TotalEnergies’ activities. He claims that even if a well-known critic of fossil fuels, Jean-Marc Jancovici, were to lead the company, he would still be required to follow the same financial strategies. Scientific research suggests that to limit global warming to 1.5 degrees Celsius, oil and gas production must decrease by 2 to 3 percent per year by 2030. However, TotalEnergies is not on track to meet this goal and instead plans to develop new oil fields in countries such as Nigeria, Libya, Mozambique, and Papua New Guinea to maintain its output. In addition to expanding fossil fuel production, TotalEnergies has reduced its investments in renewable energy. Last year, the company cut its spending on electricity and renewables by several hundred million euros. In 2022, three-quarters of its investments were in oil and gas, with only 25 percent going to renewable sources. By 2030, the company plans to spend twice as much on carbon-based energy as on green energy and continue to allocate three times more to shareholder dividends than to renewable projects. TotalEnergies has seen a significant rise in profits, with its stock price increasing by 44 percent since the beginning of the year. Profits for the first half of 2026 exceeded 11 billion euros, a 40 percent increase compared to the previous year. Part of this success is linked to the company's involvement in the Middle East conflict and its control of oil tankers to influence prices. The company has also benefited from geopolitical instability, using its broad presence in the oil industry to offset losses in one area by gaining in another. Public policies aimed at limiting TotalEnergies include taxing its superprofits and considering nationalization, though the latter is not seen as a quick fix due to current financial constraints. Climate activists are pushing for changes in the policies of financial institutions like BlackRock and are expected to organize significant mobilizations in October. Maxime Combes has written the book Sortons de l'âge des fossiles (Seuil, 2015), which discusses the need to move away from fossil fuels.