London, UK. Today, oil giant BP announced record breaking profits of $5 billion for the first quarter of 2023, an increase on the previous quarter. The announcement has generated a storm of criticism as BP continues to support a handful of wealthy shareholders during a cost-of-living crisis and the British government refuses to take necessary, regulatory action.
Following this announcement, Tommy Vickerstaff 350.org UK Team Lead said:
“BP is continuously making obscene profits without any intervention from the UK government. In the 2022 financial year alone, BP made profits of 28 billion pounds. They are raking in record profits off the skyrocketing energy bills that are causing millions of working people and families to live in fuel poverty. Meanwhile, they’re showing no sign of moving away from oil and gas and are backing down on already completely inadequate climate commitments.
The UK government keeps avoiding adequate tax measures for these absurd profits – money that could be used to support people struggling with bills, or finance initiatives like housing insulation to help cut fuel bills and reduce dangerous emissions. We must ask why the government continues to align with BP’s climate-wrecking business-model instead of the needs of ordinary people and our planet.”
Mark Raven – Europe Communications at 350.org
+447841474125 [email protected]