£4bn profit in three months
Discussion
https://www.bbc.co.uk/news/business-65453952
No doubt they will all try and justify why fuel prices are still high.
No doubt they will all try and justify why fuel prices are still high.
Grumps. said:
https://www.bbc.co.uk/news/business-65453952
No doubt they will all try and justify why fuel prices are still high.
They've done well- why do you have such hatred for the successful?No doubt they will all try and justify why fuel prices are still high.
Grumps. said:
https://www.bbc.co.uk/news/business-65453952
No doubt they will all try and justify why fuel prices are still high.
Apt user name...No doubt they will all try and justify why fuel prices are still high.
TheLurker said:
Grumps. said:
https://www.bbc.co.uk/news/business-65453952
No doubt they will all try and justify why fuel prices are still high.
Apt user name...No doubt they will all try and justify why fuel prices are still high.
Still a valid point though? I dunno.
Fuel prices around this area have remained fairly high and a few people have called out the companies questioning why we don’t see the prices drop at the pumps.
Grumps. said:
TheLurker said:
Grumps. said:
https://www.bbc.co.uk/news/business-65453952
No doubt they will all try and justify why fuel prices are still high.
Apt user name...No doubt they will all try and justify why fuel prices are still high.
Still a valid point though? I dunno.
Fuel prices around this area have remained fairly high and a few people have called out the companies questioning why we don’t see the prices drop at the pumps.
We should also be celebrating that a UK based company is making billions, with the majority of its efforts being abroad.
EmailAddress said:
Buying fuel is a choice.
Yes, of course it is, because everyone just drivers for leisure, and fuel prices have no impact whatsover to prices of other commodities and services...I am not sure what the energy producers plan to do with all the billions they make, some will go back to shareholders of course, some will be held in pension funds but it doesnt do much for those trying to get by that dont have shares or even a pension.
Capitalism has become a bit of a monster that will eventually eat itself, so many companies just seem to have the conscience and predatory instincts of a Shark.
Oil company profits really need to be viewed over a 5 to10 year horizon, given the volatility (no pun intended) between loss and profit in a ny given year.
However, with £4bn kicking around, it would be nice if they could divert a little to those who are paying a very high price.
https://www.theguardian.com/commentisfree/2023/apr...
Its hard not to conflate reported profits from global operations with the price of a tank of fuel, or tax take numbers.
I can't help feel that windfall tax sounds punitive, and discourages global-corps to base themselves in UK.
Something that encourages them to base themselves here, and works for them, but also provides societal benefit would be preferable. Some kind of obligation to invest in the UK, vs just handling over cash (maybe this already exists?).
I can't help feel that windfall tax sounds punitive, and discourages global-corps to base themselves in UK.
Something that encourages them to base themselves here, and works for them, but also provides societal benefit would be preferable. Some kind of obligation to invest in the UK, vs just handling over cash (maybe this already exists?).
Biggy Stardust said:
Grumps. said:
https://www.bbc.co.uk/news/business-65453952
No doubt they will all try and justify why fuel prices are still high.
They've done well- why do you have such hatred for the successful?No doubt they will all try and justify why fuel prices are still high.
ZedLeg said:
The boot lickers have already been in I see 
By bootlickers do you mean those that don't think it appropriate to penalise the successful?Let's punish them- when they go elsewhere & take their tax contribution with them we can congratulate ourselves on cutting our nose off to spite our face.
http://doc.cat-v.org/economics/bar_stool_economics
I've read that only around 10% of BP's profits can be attributed to the UK.
Also, their first quarter 2023 profit is less than the equivalent 2022 figure. Crude oil prices have fallen around 20% in the last year.
And they already pay UK tax at 75%, so there's little scope for yet more windfall tax, especially if we wish BP to invest in new sources of energy.
Also, their first quarter 2023 profit is less than the equivalent 2022 figure. Crude oil prices have fallen around 20% in the last year.
And they already pay UK tax at 75%, so there's little scope for yet more windfall tax, especially if we wish BP to invest in new sources of energy.
Biggy Stardust said:
By bootlickers do you mean those that don't think it appropriate to penalise the successful?
Let's punish them- when they go elsewhere & take their tax contribution with them we can congratulate ourselves on cutting our nose off to spite our face.
http://doc.cat-v.org/economics/bar_stool_economics
I mean the people who jump to defend multinationals.Let's punish them- when they go elsewhere & take their tax contribution with them we can congratulate ourselves on cutting our nose off to spite our face.
http://doc.cat-v.org/economics/bar_stool_economics
From the BBC
https://www.bbc.co.uk/news/business-60295177.amp
They paid $650m in tax.
They have paid about $1bn in additional taxes since he government introduced the Energy Profits Levy.
The $5bn is on worldwide assets.
They have >20bn in debt to service.
They are a listed company and not a charity.
Most pensions will hold bp stock so inadvertently most people will benefit.
Compared to US peers, they are paltry in comparison. Shell also dwarfs them.
They have paid about $1bn in additional taxes since he government introduced the Energy Profits Levy.
The $5bn is on worldwide assets.
They have >20bn in debt to service.
They are a listed company and not a charity.
Most pensions will hold bp stock so inadvertently most people will benefit.
Compared to US peers, they are paltry in comparison. Shell also dwarfs them.
J4CKO said:
EmailAddress said:
Buying fuel is a choice.
Yes, of course it is, because everyone just drivers for leisure, and fuel prices have no impact whatsover to prices of other commodities and services...I am not sure what the energy producers plan to do with all the billions they make, some will go back to shareholders of course, some will be held in pension funds but it doesnt do much for those trying to get by that dont have shares or even a pension.
Capitalism has become a bit of a monster that will eventually eat itself, so many companies just seem to have the conscience and predatory instincts of a Shark.
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