In response to BP announcing £7.1 ($8.2 billion) profit in Q3, Philip Evans, oil and gas campaigner for Greenpeace UK, said:
“Another week, another £7.1 billion banked by BP in profits, with billions to be paid out to investors. Meanwhile the homes of the poorest households in the UK urgently need insulation, the growing numbers in fuel poverty need financial support, and further investment in cheap renewables could lower our bills permanently. As Chancellor, Sunak imposed a windfall tax on these companies but gave them a loophole so big it turned into a huge tax break for more oil and gas. That won’t address the cost of living crisis, won’t provide energy security and will only make the climate emergency worse. An appropriate level of tax on BP and the other oil majors could contribute to the costs of the energy crisis and adapting to climate impacts, the investment in solutions necessary to avoid the more devastating impacts yet to come, and the loss and damage that the most vulnerable communities in the Global South have already experienced.”
