Oil and gas giant BP has reported profits of £7.1bn between July an September 2022. The staggering bumper profits come as oil and gas prices remain high following Russia’s invasion of Ukraine.
BP’s profits, which are double that of the same period last year, have been slammed by environmental groups and the left, who have highlighted both the climate and cost of living crises – the latter being largely driven by energy prices. There have also been renewed calls for increasing the windfall tax on fossil fuel companies.
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The reports of BP’s mega-profits come just days after Shell reported similar figures. Shell made £8.2bn between July and September 2022 and did not pay anything in the oil and gas windfall tax. That’s because of a loophole in the windfall tax which gives tax breaks to companies for investing in more fossil fuel extraction. BP has said it will pay $800m in windfall tax this year.
[ed: O}n day 32 of their activism my friends ;) at Just Stop Oil attempted to scale the gates of Downing Street and blocked Whitehall to demand that the government halts all new oil and gas licences and consents.
At 11:20am yesterday, a group of Just Stop Oil supporters swarmed towards the entrance to Downing street on Whitehall and attempted to scale the gates. A further group sat down in the road with banners to block Whitehall. Some glued themselves to the tarmac. 22 people were involved in the actions.
A Just Stop Oil spokesperson said:
“Rishi Sunak is about to U-turn on attending COP27. We demand that he also U-turn on new oil and gas. This genocidal policy will kill millions of people, while failing to address the worst cost of living crisis this country has ever seen.
“Its time for a serious windfall tax on big oil, without the get-out-of-jail-free tax credits that will encourage more oil and gas that we cannot afford. Vulnerable people will be freezing to death in their homes this winter, unable to afford a can of soup, while his government refuses to tax the rich and the big energy companies that are profiting from our misery.
“We owe it to our young people to stop fossil fuels, we owe it to our workers to create a just transition to a zero carbon economy, we owe it to our old people to enable them to live with dignity. We are not prepared to stand by and watch while everything we love is destroyed. “
The action yesterday followed BP’s announcement of a bumper profit of £7bn for the last quarter alone, while it expects to pay only £700m in windfall tax on its North Sea operations for the whole year. It also announced that rather than reinvesting its profits in the transition to renewable energy as it claims or in reducing costs for customers, it is prioritising transfers to wealthy shareholders by spending $8.5bn so far this year on share buy backs.
Yesterday’s action follow four weeks of continuous civil resistance by supporters of Just Stop Oil during which the police have made 678 arrests. Since the campaign began on April 1st, Just Stop Oil supporters have been arrested nearly 2,000 times, with 6 supporters currently in prison.
This week’s UN Report states that “Staying under 1.5C is no longer credible.”
Going over 1.5C locks in the loss of the coral reefs, the loss of 25% of the world’s fish stocks, the destruction of hundreds of millions of livelihoods and millions of innocent lives.
Going over 1.5C means island nations going underwater and this is just the beginning.
Just Stop Oil will be pausing its campaign of civil resistance from yesterday. They say that they are giving time to those in the government who are in touch with reality to consider their responsibilities to this country at this time.
[This report is sourced mainly from Just Stop Oil press bulletins.]
[3/11/22 I’m suffering from a temporary health condition [4/11/22: Baker’s cysts] which is very painful. I’m not thinking straight and find myself shouting at people on the radio, etc because of the pain. I may have lost my way with this and it’s probably best that I leave it for a while.]
This is the article the earlier Coming soon relates to. It is getting revised and elaborated. This is my understanding and judgement. I am not claiming that it is wholly correct but it is approaching it.
Every adult has a responsibility to future generations. Current governments are woefully failing that responsibility through neglecting to address the climate crisis. There are many reasons for this which I am trying to identify in this article.
Public (private) education
Privately-funded education in UK is incorrectly called public education so that you have public schools which are actually private fee-paying schools that rich people send their children to. It is generally a high standard of education, far higher than the real pubic free schooling system provided by the government and financed through taxation.
In addition to academic achievements public school students are taught how to rule, to be in charge. Many UK politicians – particularly Conservative or ‘Tory’ politicians – are privately educated with some attending the elite Eton public school before progressing to study PPE (Politics, Philosophy and Economics) at the highly regarded Oxford University. By contrast I was educated at many different state-run schools, left school having completed O-levels at 16 and later achieved a BSc at a polytechnic and later again a MSc at the same polytechnic which by then had converted to a post-polytechnic university. I am quite capable in different ways through my experiences and despite receiving a less than first-class educational experience.
Three aspects of the education that public school students receive in addition to the academic education – often called the ‘hidden curriculum’ – are (i) that they should be concerned only with their own welfare, (ii) that they should trust and act on their intuition disregarding and regardless of evidence to the contrary, and (iii) that they will never be held to account for their actions. These three taught aspects have awful consequences for the World since they lead to neglecting to address the climate crisis.
There is a phrase “A gentleman never lies”. What this means is that public schoolboys are never accused of lying. They do lie of course – look at Tony ‘Bliar’ Blair and Boris Johnson. Lying was Boris Johnson’s first instinct – you would be nearer the truth by believing the exact opposite of anything he said. I was out drinking and fraternising locally and this posh public schoolboy student was taking the piss out of me. He was probably a student of law or something similar. So he’s repeating to me “I’m not taking the piss out of you.” as he was taking the piss out of my beauty mark, being hugely personally insulting. So I’m repeating back “That’s exactly what you’re doing.” It’s impolite to accuse somebody of lying of course but he was a total cnut trying to invoke personal stigma not understanding the accusation of being a liar because he had never experienced that.
These posh boys are also never contradicted so that they exist in some parallel universe. Blair may well have believed in weapons of mass destruction because he had poor abilities judgement abilities. The richer they are the more detatched from reality they are. People suck up to them. You never discuss prices with these posh boys because money is not an issue for them, they’re rolling in it.
These are the people in charge, really nasty people who don’t care about anyone else, appear concerned only with the immediate, don’t seem to take anything seriously and enjoy humiliating plebs like me. I can’t say that they’re all like that of course but that’s how they’ve been moulded so it would be difficult for them to not be. So, back to the main issue here: Why governments are not addressing the climate crisis. These are the people in charge who control governments. These are the people with superyachts, the people who fly around the World in private jets who just don’t care about anyone or anything except themselves. It might be fairer to say that it is the elite of this elite that is the problem, the 1% of the 1% who depend on big oil and gas to keep them rich and powerful. What sort of cnut do you have to be to take part in space tourism?
Elite education may have been appropriate in the era of Empire but is totally inappropriate now. Elite establishments should use their lead to teach compassion, co-operation and respect for all. I appreciate that state school teachers are constrained in how they can behave and what they can teach. School students should not be bullied for being poor, independent or free-thinking as was my experience. State school teachers and lecturers need to respect students’ human rights, help young people develop their potential and encourage participation in the democratic process.
The very concept of childhood is relatively recent and even today doesn’t exist in much of the World. Children are not educated and through poverty are forced to work in much of the World.
I started this article by stating that every adult has a responsibility to future generations. Privately educated Rish! Sunak has more of a responsibility than all other UK adults since he is UK prime minister. However, by chosing to neglect the climate crisis and by actually accelerating climate destruction he is even neglecting his responsibility to his own two daughters.
Climate activists are challenged while climate destroyers are not. Where are the questions Why are you destroying the planet? You’re promoting space tourism that causes … why are you doing that? Do you realise that this superyacht causes … ?
Fossil Fuels
The fossil fuel industry has deliberately developed contemporary societies to be hugely dependent on oil and gas. UK is an oil-dependent society rather than an industrial or any other society.
Politicians are so close to the fossil fuel industry that it is difficult to distinguish them.
There is a lack of imagination, politicians and others cannot imagine anything other than oil-dependency. There are alternative, renewable sources of energy that are cleaner and cheaper and do not cause climate destruction.
Dozens of climate and energy justice campaigners call for a stronger windfall profits tax to fund home insulation and renewable power generation from inside the U.K. Parliament in London on October 24, 2022. (Photo: Suzanne Plunkett/Greenpeace)
[The situation on fracking has changed since this article was published 3 days ago. The new UK government under Rishi Sunak has made clear that fracking is not permitted in UK.] Republished from Common Dreams under Creative Commons licence (CC BY-NC-ND 3.0).
“Delay has cost lives. Chaos costs lives. And it will cost more lives this winter and every winter,” campaigners say. “No one benefits except the oil and gas profiteers.”
Hours after lawmakers from the ruling Conservative Party voted to make Rishi Sunak the United Kingdom’s third prime minister this year, more than 30 climate and energy justice activists occupied the lobby of Parliament to demand that the government fund home insulation and renewable power generation through a more robust tax on oil and gas corporations’ windfall profits.
Almost seven million people in the U.K.—nearly a quarter of the country’s population—are facing fuel poverty as winter quickly approaches. Meanwhile, heavily subsidized fossil fuel giants are raking in record profits, which they use to block policies that would facilitate a green transition and rein in their destructive industry.
Greenpeace campaigners, armed with sky-high utility bills from across the country, read the testimonies of people struggling to make ends meet amid a historic cost-of-living crisis that Sunak’s right-wing predecessors—Boris Johnson and Liz Truss—and Tory colleagues have, according to progressive critics, exacerbated through adherence to neoliberal orthodoxy.
Stressing that “chaos costs lives,” activists made the case for simultaneously addressing soaring energy prices and the worsening climate emergency by taxing fossil fuel profits and using the revenue to invest in better residential insulation and expanded clean energy production.
Today 30+ Greenpeace activists occupied parliament, bringing energy bills and reading out testimonies from people across the country just as @RishiSunak is announced as the new Prime Minister. He must deliver a proper windfall tax to insulate homes. #ChaosCostsLivespic.twitter.com/ecVytnsqYc
“Thanks to spiraling gas prices and the oldest, coldest housing in Europe, millions of people are being pushed into fuel poverty,” Greenpeace U.K. noted in a blog post. “People across the country have waited for government after government to provide enough help to lower their energy bills—but mostly what we’ve had is political chaos.”
The group continued:
Rising energy bills and cold homes will cost lives. The U.K. already has the sixth highest rate of excess winter deaths in Europe. Higher bills also disproportionately impact disabled and older people, people of color, and those from impoverished communities. For instance, many medical and mobility devices require electricity. Meaning, on average, disabled people have much higher energy bills just for using equipment they need in their day-to-day lives. Political leaders have failed to put people first and provide sufficient support for the energy crisis.
It’s political choices that have caused the levels of inequality and fuel poverty we’re facing. If this government properly taxed record fossil fuel profits, it could help fund extra support for those in need, and help pay for a nationwide program to insulate homes. Instead, the last six weeks have seen u-turns on the Conservative manifesto pledge on fracking and new commitments to North Sea oil and gas, which will wreck our climate and won’t lower our bills.
Two months ago, the U.K. Treasury estimated that the nation’s energy firms are poised to enjoy up to £170 billion ($191.9 billion) in excess profits—defined as the gap between money made now and what would have been expected based on price forecasts prior to Russia’s invasion of Ukraine—over the next two years.
A 25% windfall tax on oil and gas producers approved in July is expected to raise £5 billion ($5.6 billion) in its first year. However, the existing surtax on excess fossil fuel profits contains loopholes allowing companies to drastically reduce their tax bill by investing more in oil and gas extraction, which the industry claims will boost supply. The recently enacted windfall tax, which lasts through 2025, also exempts eletricity generators, even though Treasury officials attribute roughly two-fifths of the £170 billion in excess profits to such actors.
With winter energy bills projected to triple compared with last year, calls are growing in the U.K. to increase the windfall tax rate on excess fossil fuel profits and extend it to electricity generators benefiting from rising oil and gas prices.
While Truss vehemently opposed windfall taxes—asserting that they “send the wrong message to investors”—Sunak introduced the current windfall tax in May when he was Johnson’s chancellor of the exchequer.
According to Greenpeace, Monday’s action was meant to show Sunak that “he can’t ignore the almost seven million households facing fuel poverty.”
The life-threatening crises of surging utility bills and unmitigated greenhouse gas pollution are both caused by fossil fuel dependence, the group noted. Consequently, these problems have lifesaving solutions that are straightforward and aligned.
“To lower our bills long-term and reduce our emissions,” Greenpeace urged Sunak to do the following:
Commit to investing £6 billion [$6.8 billion] immediately to kickstart a street-by-street insulation program to keep bills low for good;
Shift to renewable energy, like wind and solar, which are cheaper and quicker to build than oil and gas; and
Properly tax oil and gas companies’ excess profits so they pay their fair share, given how much money they’ve made off these crises.
“It’s time we have a government that brings down bills for good and plays its part in tackling the climate crisis,” the group added.
On social media, Greenpeace encouraged people to sign a petition imploring U.K. lawmakers to “keep people warm this winer.”
Join these brave activists taking action and help pile pressure on the govt and @RishiSunak.
Tell the PM-in-waiting that #ChaosCostsLives and the next government must deliver a proper windfall tax to keep people warm this winter 👉 https://t.co/h57DE4eKca
“Delay has cost lives. Chaos costs lives. And it will cost more lives this winter and every winter,” the group emphasized. “No one benefits except the oil and gas profiteers. If the government were on the people’s side, the U.K. really could get on track to quitting oil, gas, and sky-high energy bills, forever.”
A United Nations report published Wednesday ahead of November’s COP27 talks warns that planetary heating could reach a catastrophic 2.9°C by the end of the century without immediate action from the world’s largest polluters to dramatically rein in carbon emissions and transition away from fossil fuels.
The analysis by the U.N. Framework Convention on Climate Change (UNFCCC) examines the climate commitments of the 193 national parties to the Paris climate accord, which sets out to limit warming to 1.5°C above preindustrial levels—an amount of heating that would still have devastating impacts across the world, particularly in poor and low-lying nations.
“Those who are expected to do more are far from doing enough, and the consequences of this is affecting lives and livelihoods across the globe.”
Even if countries meet their current climate targets—something many nations, including the United States, are not on track to achieve as climate advocates and scientists push for bolder action—global carbon emissions are projected to rise 10.6% by 2030 relative to 2010 levels and the planet is set to warm by an average of 2.1 to 2.9°C by 2100.
“The latest U.N. report is another reminder that we are still just throwing cups of water at a raging inferno,” Jamie Henn, director of Fossil Free Media, wrote on Twitter. “It’s past time for [U.S. President Joe Biden] to declare a climate emergency and use every power he has to get us off fossil fuels.”
The report notes that while “some progress” has been made toward reducing planet-warming emissions over the past year, “an urgent need for either a significant increase in the level of ambition of [nationally determined contributions] between now and 2030 or a significant overachievement” of climate action plans will be necessary to avert disastrous warming. The New York Timesnoted that “just 26 of 193 countries that agreed last year to step up their climate actions have followed through with more ambitious plans.”
“The downward trend in emissions expected by 2030 shows that nations have made some progress this year,” said Simon Stiell, the executive secretary of U.N. Climate Change. “But the science is clear and so are our climate goals under the Paris Agreement. We are still nowhere near the scale and pace of emission reductions required to put us on track toward a 1.5°C world.”
“To keep this goal alive,” Stiell added, “national governments need to strengthen their climate action plans now and implement them in the next eight years.”
The report was published as extreme weather made more intense by the climate emergency continues to ravage large swaths of the globe, taking lives, destroying communities, and exacerbating the intertwined crises of poverty, hunger, and inequality. Millions are reeling from devastating flooding in Nigeria and Pakistan while East Africa is in the midst of a starvation crisis intensified by prolonged drought.
The potential impacts of 2.9°C of warming are stark. As Scott Kulp, a computational scientist at Climate Central, toldBuzzfeed last year, “an estimated 12% of the current global population living on land could be threatened under long-term future sea level rise under the 3°C scenario.”
“So that amounts to 810 million people,” Kulp noted.
Another expert, Rutgers University climate scientist Robert Kopp, told the outlet that “the more we push the system above 2°C—but we don’t know how much—the more the chance we trigger ice sheet processes that could rapidly increase sea level rise.”
Sameh Shoukry, Egypt’s minister of foreign affairs and president-designate of the upcoming COP27 talks, said in a statement that the new UNFCCC report is further “testimony to the fact that we are off track on achieving the Paris climate goal and keeping the 1.5 degrees within reach.”
“Raising ambition and urgent implementation is indispensable for addressing the climate crisis,” said Shoukry. “This includes cutting and removing emissions faster and at wider scope of economic sectors, to protect us from more severe adverse climate impacts and devastating loss and damage.”
“This is a sobering moment, and we are in a race against time,” Shoukry added. “Several of those who are expected to do more are far from doing enough, and the consequences of this is affecting lives and livelihoods across the globe. I am conscious that it is and should be a continuum of action until 2030 then 2050. However, these alarming findings merit a transformative response at COP27.”
