BP has announced its latest bonanza after raking in £2billion in the three months to June – just days after the PM confirmed he would award more gas and oil licences
Since David Cameron decided to cut “the green crap”, the Tories’ failure to deliver net zero policies has meant huge bills for families and monstrous profits for energy firms.
BP yesterday announced its latest bonanza after raking in £2billion in the three months to June â £256 a second. And that came days after Rishi Sunak confirmed he would award 100 licences for North Sea oil and gas exploration.
That will further line the pockets of energy firms and also fly in the face of the UK’s goal to be net zero by 2050, when a balance is achieved betÂÂween the amount of carbon emitted into the atmosphere and the amount removed. The BP results represented a 70% drop in profits following a decline in wholesale oil and gas prices from their levels just after Russia ‘s invasion of Ukraine. But millions of households and businesses are still reeling from extortionate bills that are far higher than before the energy crisis and the pandemic.
Charlie Kronick, senior climate adviser at Greenpeace UK, said: “The oil and gas giants have been allowed to cash in on the climate crisis for far too long while ordinary people pay high bills.” More than 600 experts have written to Mr Sunak to tell him those new North Sea licences will endanger global efforts to combat climate change.