Tuesday, 2 August 2022

Oh What a Lovely War!

As they say 'It's an ill wind that blows no good'. The war in Ukraine, has tripled petrochemical company, BP's, 2nd quarterly profits to almost £7bn (https://www.theguardian.com/business/2022/aug/02/bp-profits-oil-prices-ukraine-war-energy-prices-cost-of-living-crisis). The war has resulted in extraordinarily high oil prices. This has meant that BP can shower increased dividends on its shareholders and executives. BP are given tax breaks by the UK government and are treated as god-like by financial institutions. The company pays zero towards the costs of the 'greenhouse gas' emissions, produced by their extraction and sales of oil and gas. So much for the polluter pays! Concomitantly, many small companies 'go to the wall' and everyone faces a cost of living crisis. It's almost like getting away with murder?

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