'Yet another day of enormous profits at an energy giant': Oil major BP reports record earnings

📆 8-2-2023 03:00:00
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Calls in the U.K. to hike the windfall tax on oil companies increased after oil major BP reported US$28 billion in profit for 2022. Read on

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Ed Miliband, the opposition Labour Party’s spokesman on climate issues, called on the U.K. government to bring forward a “proper” windfall tax on energy companies. Bumper profits for energy companies worldwide have sparked demands that the fossil fuel industry do more to offset high energy bills even as they cut climate-damaging carbon emissions. U.S.-based Exxon Mobil Corp. posted record earnings of US$55.7 billion last week.Article content

BP on Tuesday said it would boost investment in renewable energy, hydrogen and electric vehicle charging as well as its oil and gas businesses, plowing an additional US$8 billion into the two segments through 2030.Article content

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and the Conservatives wanted the Gov't to bail out Oil majors in Canada during the pandemic

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