Call for windfall tax on BP’s ‘obscene’ £37 million a day profits

Ray Massey
UK Daily Mail
Wednesday, July 30, 2008

BP faced demands for a windfall tax yesterday as it announced ‘obscene’ half-year profits of £6.75billion on the back of record fuel prices.

With motorists, businesses and hauliers facing increasing pain at the pumps, the company’s profits rose to around £37million a day or £430 a second – an increase of 23 per cent on the same period last year.

In the second quarter alone, the oil giant made profits of £3.44billion, an increase of 6 per cent on a year ago.

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At the same time, motorists suffered an average 10p rise in the price of a litre of petrol to

118.2p, with average diesel prices up more than 14p to 131.6p, said the AA.

Unions and environmental groups last night demanded the Government impose a windfall tax on the oil giants.

However, BP insisted its profits were helping the economy and boosting pensions.

BP dividends contribute £1 in every £10 to UK pension funds, it noted.

But Tony Woodley, of the union Unite, said: ‘While ordinary people struggle to make ends meet, BP’s boardroom is wading through knee-deep profits.

‘It is high time our Government moved to stop the fuel corporates picking the pockets of the poor and needy.’

Friends of the Earth also demanded a windfall tax, which it said should be used to fund cuts in domestic fuel bills and boost energy-saving projects for homes.

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5 Responses to “Call for windfall tax on BP’s ‘obscene’ £37 million a day profits”

1. observer Says:
   July 30th, 2008 at 8:29 am

   If the oil hoax is not a lie to line pockets then this would not be possible. Oil is said to be running out which leads to higher costs all around, not just the consumer. The proof is in the pudding, and the pudding has gone bad. Wake up World, you are being used, and they are loving every minute of it.

2. me Says:
   July 30th, 2008 at 10:11 am

   “Oil is said to be running out…”

   didnt that fellow who worked for chevron come up with “peak oil theory”?

   dependency is the antithesis of independence.

3. GARKO FACTOR Says:
   July 30th, 2008 at 11:45 am

   oil never runs out
   the more we take, the more comes up to the surface
   nope, not kidding. if i could i would draw a picture here. but for sure, peak oil is bogus and a profit driven propaganda machine.
   meanwhile, the model T Ford in 1908 got 40% better gas mileage than our cars do on an average today
   and the oil and car companies are in collusion where they install computer sensors in all modern vehicles to make sure they don’t get more MPG than the corporations want us to get.
   that is criminal in the extreme and they get away with it because they own Congress

   but, at Water4Gas, we have figured out how to increase gas mileage while reducing emissions to very safe levels while beating the sensors… tricking them to think the car is getting less MPG than it actually is. this is a revolution folks… take back your right to MPG http://mywater4gasengine.com

4. Todd Says:
   July 30th, 2008 at 4:32 pm

   Peak oil is a myth and a fraud:

   http://video.google.com/videop.....4113&q

   Over-privileged oil tycoons deliberately created artificial scarcity of a naturally-occurring resource in order to jack up prices and transfer that much more of our money into their already super-rich coffers, and for that they should be PROSECUTED, not taxed.

   If ever there was a time to enforce anti-trust laws, it’s now.

5. Heteon Says:
   July 31st, 2008 at 7:18 am

   i challenge you who are so close to connecting all of the dots to watch the video “RING OF POWER” on the website : redicecreations.com this film is the greatest expose EVER. check it out then start over when you realize that the very foundation of our thoughts are a LIE. do it. it is TRUTH and you will know that it is TRUTH.