It’s been another bumper quarter for Big Oil. Demand for non-Russian oil has skyrocketed, bringing prices with it in tandem. The glut of cash found in the accounts of these fossil fuel companies, however, is not being spent on investment in new oil and gas. Nor is it being spent on clean energy investment either. Instead, the companies are looking to recover shareholder sentiment, with buybacks and dividends hoping to distract from their woeful performance through Covid-19 and the prospects of peak oil ahead. The first three months of 2022 saw ExxonMobil post profits of $5.5 billion, dented only by a $3.4 billion write-down of its Russian assets. If you ignore this impairment, the quarter marks one of the company’s…