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Thursday, April 29, 2010

BP-Gate: far more important than 'Bigot-gate'

'Bigot-gate’? This is far more important, but has got far less media coverage.

From the Daily Mail:

Motorists paying record prices at the pumps reacted with fury at news of a 135 per cent rise in profits by oil giant BP - earning a massive £463 a second.
BP said on Tuesday that profits hit £3.6 billion ($US5.6 billion) in the first three months of 2010 - more than double the level last year.
The 135 per cent profits rise comes after the price of crude oil was pushed higher by recovery hopes for the global economy and due to market speculation.
For the first three months of the year it works out at at £40million a day, and £1.6million an hour and £2,777 a minute.

BP: Bxxxxy Profiteers. And why isn't the rocketing price of petrol a major election issue?

1 comment:

neil craig said...

The pound having dropped from $2 to $1.5 so it used to be worth £1.33 more. BP is a multinational company with most of its assets overseas & selling a commodity priced in dollars. So yes I agree it is scandalous that the country is run by buffoons who think that just passing another regulation or tax & printing a bit more money can work forever. If we had 10% growth the£ would not be falling & netrol prices would not be rising but that would require a government that put growth ahead of bigger government & eco-fascist regulation.