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Home » News » Thought Shell was bad…listen to what BP are up to

Thought Shell was bad…listen to what BP are up to

"Firms like BP are climate criminals, polluting our planet & escaping with billions," wrote Caroline Lucas.

Scott M by Scott M
February 7, 2023
in News
Credit: Wikicommons

Credit: Wikicommons

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Last week oil and gas giant Shell has reported record annual profits after energy prices surged last year following Russia’s invasion of Ukraine.

Profits hit $39.9bn (£32.2bn) in 2022, double the previous year’s total and the highest in its 115-year history.

Labour’s shadow climate change secretary Ed Miliband said: “As the British people face an energy price hike of 40% in April, the government is letting the fossil fuel companies making bumper profits off the hook with their refusal to implement a proper windfall tax.

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“Labour would stop the energy price cap going up in April, because it is only right that the companies making unexpected windfall profits from the proceeds of war pay their fair share.”

Liberal Democrat leader Ed Davey said: “No company should be making these kind of outrageous profits out of Putin’s illegal invasion of Ukraine.

“They must tax the oil and gas companies properly and at the very least ensure that energy bills don’t rise yet again in April.”

BP

So what are BP up to? Well they have more than doubled their profits (we kind of expect this from these companies now…somehow) but at the same time are cutting back on their climate goals!

The company now plans a greater production of oil and gas over the next seven years compared with previous targets.

Responding to BP’s results, Ed Miliband, Labour’s shadow climate change and net zero secretary, said: “It’s yet another day of enormous profits at an energy giant, the windfalls of war, coming directly out of the pockets of the British people.

“What is so outrageous is that as fossil fuel companies rake in these enormous sums, Rishi Sunak still refuses to bring in a proper windfall tax that would make them pay their fair share.”

Reactions

1.

£23bn profits for BP
£32bn profits for Shell

There is no debate – when millions can't afford to turn their heating on millions of children are living in poverty.

We need to end this rampant profiteering.

We need a windfall tax now &
we need to nationalise our utilities. pic.twitter.com/97MSwVBB4O

— Kate Osborne MP (@KateOsborneMP) February 7, 2023

2.

Another day, another fossil fuel giant announces record profits. Firms like BP are climate criminals, polluting our planet & escaping with billions. Rather than make them pay for climate-wrecking damage, Govt has designed massive windfall tax loophole worth billions. It must stop pic.twitter.com/D7tzToY4pb

— Caroline Lucas (@CarolineLucas) February 7, 2023

3.

🚨 NEW: Energy giant BP has announced annual profits of £23,000,000,000 – more than double the previous year.

At the same time, 3.2 million British homes were cut off because they couldn’t afford energy bills.

Their profits = our pain#EnoughlsEnough

— Enough is Enough (@eiecampaign) February 7, 2023

4.

£32bn profits at Shell, £23bn profits at BP. And single mums getting their doors kicked down so prepayment meters can be installed. Tell me again how class is a thing of the past.

— David__Osland (@David__Osland) February 7, 2023

5.

British Petrol have just reported £23 billion profits for 2022. The highest profits in the history of BP.

You used to own British Petrol. It was yours. The government privatised it.

Renationalise now! Cut bills. Scrap Ofgem.

— Howard Beckett (@BeckettUnite) February 7, 2023

You have to laugh…

As BP profits double to £23bn just a week after Shell profits doubled to £32.2bn, Rishi Sunak receives the UK’s full windfall tax payment: pic.twitter.com/jM3lSMpWEa

— Have I Got News For You (@haveigotnews) February 7, 2023

Related:

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Scott M

Scott M

Political Journalist

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