Saudi Aramco is now – regrettably – the world’s most valuable company, having overtaken Apple in market cap this week. The company reported an 82% surge in quarterly profits, posting a net income of $39.5 billion – its highest since it listed publicly in 2019. Aramco identifies the result as a combination of improved refining margins through Covid-19, and the currently elevated price of oil, which is currently trading at around $110 per barrel – up over 60% from this time last year. Unlike many of its fossil fuel peers, Aramco has no plans to shift away from oil. Having increased total production to 13 million barrels per day over the past three months – up from 12.3 million in…