BP joins oil and gas firms posting massive profits

Reacting to the news that BP’s profits more than doubled in 2022, Connor Schwartz, climate campaigner at Friends of the Earth, said:

“Cost of living crisis? Not if you’re a BP exec. As it joins the ranks of energy firms announcing colossal takings for last year, BP's profits - which have increased twofold - will be yet more salt in the wound for millions of people who’ve struggled to afford to stay warm and well this winter.

“Inflation is soaring, real-terms pay has nosedived and energy bills are set to rise higher still in April. Fossil fuel companies shouldn’t be able to reap such massive profits while people are paying exorbitant energy costs.

“And with business booming BP has today revealed its rolling back on its recent climate promises. It’s clear that heating our homes will continue to cost the Earth in more ways than one.

“To simultaneously lower bills and cut carbon emissions, the government must roll out a nationwide insulation programme and rapidly scale up the production of homegrown, renewable energy. Fairly taxing fossil fuel firms’ mega earnings would help to fund these vital measures.”

ENDS