Sorry about posting yet another 'political' thread, but I read this article this morning and it boiled my piss: https://news.sky.com/story/bp-reports-second-quarter-profit-of-8-45bn-highest-in-14-years-12663939 Talk about blatant profiteering - if ever there was a case for nationalising a company this is it - they are taking the piss whilst we pay through the nose at the pumps.
Read it properly .. the profits are mainly from non UK business and how do you Nationalise a company that is now predomintally non UK! these last quarter profits do not count on the windfall tax, the next quarter does ....
I know, it's a disgrace and the likes of Shell, BP, Centrica (British Gas owners), Esso and co, and not forgetting Gazprom in Russia, continue to make obscene amounts of money, while the citizens and businesses affected will suffer with high costs of fuel or the choice (for some) between heat or eat. But from my limited understanding if the UK government introduce windfall taxes on these profits then companies such as BP will start exploring and investing elsewhere yet will maintain the high prices here which are now expected to hit £3.6k a year from next January. There is a growing movement for households to refuse to pay for domestic gas and electricity prices that are way out of control due to wholesale prices.
Sorry R&W - it's me again. They're not taking the piss at all. The recent quarterly profits were always going to be substantial due to the energy supply outstripping the demand - there was very little BP could have down to prevent the surplus. Funnily enough, no one made a fuss when BP actually lost i think £6Bn in a half year when the covid crisis hit the demand at the pumps worldwide. I agree such profits are obscene when set against the difficulties that families and individuals are suffering right now, but published results are historical - it's all about what happens now and going forwards. Windfall taxes instead of dividend payouts are a must but also need to consider recent history as well, not just post covid demand and Putin inspired shortages.
it is market forces start of June BP WERE £4. 52 NOW £4.04 [ TODAY trades between £4.02 4.11p ] Shell is £21.65 down from £24.40 June
My 'nationalise' statement was a throw-away comment expressing knee-jerk sentiment not a heart-felt desire to go through with it. I can't imagine we'd nationalise anything ever again. However, I don't like the situation that the big energy giants monopolise the sector and set their own prices - some people say that unions are too powerful and need curtailing - well, OPEC is one of the most powerful unions on the planet!!
they do however still have the product to sell! .. they simply slow the flow ... if all the non Russian oil producers turned up their taps by a 5% oil prices would come down by quite a few dollars a barrel ... looking to the future electric cars .... less need for crude .. which will eventually run out anyway ... as will gas heating will be by electric / solar /etc .. already wireless chargers have been around for decades [ electric tooth brush's ] the same principle can be used to heat things up ... even melt steel! .... so why prolong the pumping of crude ... get it out now ... invest the money in futuristic energy generation ... an aside .... wild camping in South of France 2 weeks in mountains and a hot shower nearly every day from spring water that started at 43f ... equipment sturdy black bags bin liner worked .. or or a couple of black 40 litre containers ... oh also a spare container filled with cold water as sometimes the water in the black reservoirs [ bags/ cans was over 120f ....
I don't see a problem. The tax from these profits are needed to fund another 3,600 chancers that turned up last month. Update : another 700 yesterday. Come on guys - houses, hotels, phones and all other hand outs aren't cheap. They've travelled thousands of miles for these freebies. Let's all be more welcoming.
I find it quite interesting that the supermarkets are dropping their prices, but locally (BS40) my closest garage (Esso) is still cheaper at £1.79 a litre, with an extra 2p off with a loyalty card. We’ve just come back from a weekend in south Devon; many independent fuel stations there are charging £1.74 a litre, whilst a Texaco garage on the A358 at Thornfalcon has unleaded at £1.71!! I think the big supermarkets are taking the piss as well!!
