BP accused of profiteering



The Unite general union has accused BP of “unfettered profiteering” after the energy giant announced quarterly profits of £6.9 billion, the largest in 14 years. 


Sharon Graham, the union’s general secretary, stated: “People will be confounded by the latest profits announced by BP. In three months, in April to June this year, the oil giant’s profits soared to almost £7 billion. Yet predictions are that household energy bills are to rise to a calamitous £3,600 a year. How can this contrast continue time after time?”


And TUC general secretary Frances O’Grady said that, with energy bills rising much faster than wages, the profits are “an insult to families struggling to get by”.


She added: “For a fair approach to the cost of living crisis, price hikes and profits should be held back. Ministers must do more to get wages rising across the economy. And we should bring energy retail firms into public ownership so we can reduce bills for basic energy needs.”


https://www.unitetheunion.org/news-events/news/2022/august/unite-accuses-bp-of-unfettered-profiteering



https://www.tuc.org.uk/news/bp-profits-are-insult-families-struggling-get-says-tuc