Wes Streeting speaking about so-called ‘progressive capitalism’ at No1 Tower Place West, in central London, June 16, 2026
LABOUR leadership pretender Wes Streeting came out fighting today for carbon fuel, the bond market and “progressive capitalism.”
The former health secretary reaffirmed that he will contest any leadership election triggered by Manchester Mayor Andy Burnham’s expected victory in the Makerfield by-election this week.
Mr Streeting, the Blairite candidate in any election, backed plans to drill for oil and gas in the Rosebank and Jackdaw fields in the North Sea.
He said he aimed to “protect the workers in oil and gas, who’ve seen words like ‘just transition’ translate into jobs for someone else, somewhere else. We should be working with the unions on this – not least on making sure that we’re building our clean power future here in Britain, not simply importing it from China.”
He denied that this would forfeit Britain’s “moral leadership” on climate change.
“The best example we can set is to show the world that net zero is compatible with a pro-growth agenda. The worst example would be losing support for the net zero agenda, handing the country to Nigel Farage, and allowing Reform to destroy the renewables industry,” Mr Streeting said.
Green Party deputy leader Rachel Millward said his “call to open up new drilling in the North Sea is environmentally reckless and economically illiterate.
“Rosebank alone contains enough fossil fuel to produce over 200 million tonnes of CO2 if burned – more than the combined annual emissions of 28 low-income countries.”
Uplift director Tess Khan said: “Politicians need to learn the lesson of the last five years – the UK’s dependence on fossil fuels is making a handful of oil and gas companies obscenely rich and the rest of us poorer, while driving inflation, harming the economy and altering our climate.
“Streeting would do better to listen to the millions who are sick of the energy giants loading costs onto the rest of us, and pay less attention to this profiteering industry and its proxies, like Tony Blair and Donald Trump.”
Greenpeace activists display a billboard during a protest outside Shell headquarters on July 27, 2023 in London. (Photo: Handout/Chris J. Ratcliffe for Greenpeace via Getty Images)Donald Trump urges you to be a Climate Science denier like him. He says that he makes millions and millions for destroying the planet, Burn, Baby, Burn and Flood, Baby, Flood.Nigel Farage urges you to ignore facts and reality and be a climate science denier like him and his Deputy Richard Tice. He says that Reform UK has received £Millions and £Millions from the fossil fuel industry to promote climate denial and destroy the planet.
Members of the Revolutionary Armed Forces attend a rally in support of former President Raul Castro in front of the U.S. Embassy in Havana, Cuba, May 22, 2026
ROGER D HARRIS and SARA FLOUNDERS challenge propaganda against the blockaded socialist island
MAY Day is the most important public celebration in Cuba. This year, which marked the 100th anniversary of Fidel Castro’s birth, carried special significance in light of heightened US aggression. Over 5 million Cubans reportedly mobilised island-wide under the slogan of la patria se defiende (the homeland must be defended). The largest demonstration took place in Havana in front of the US embassy.
The symbolism of International Workers’ Day was not lost on the White House. President Trump chose that day, May 1, to impose yet more sanctions on top of the already draconian illegal measures immiserating Cuba. Cuban journalist Norland Rosendo Gonzalez called this latest escalation Trump’s “imperial order to kill the Cuban people without bullets.”
The world’s leading imperial power falsely claims that Cuba poses “threats to United States national security.” Secretary of State Marco Rubio subsequently announced additional measures to “defend” the US homeland from its peaceful neighbour.
Jill Clark-Gollub with the Americas Without Sanctions Campaign explains the underlying reason for Washington’s animosity: “Cuba is sanctioned for the crime of being a good example.” A small, formerly colonised country, Cuba simply claims its sovereign right to determine its own destiny without foreign interference.
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In 1976, Cuban voters ratified a constitutional referendum with a reported 97 per cent approval rate and high voter turnout, which formally defined Cuba as a socialist state. Last year in the United States, the House of Representatives passed a resolution “denouncing the horrors of socialism” by a lopsided bipartisan margin of 285–98.
Capitalism itself, however, has never been subject to a democratic vote of the American people. Perhaps for good reason: recent polls show a growing popularity for socialism, especially among the youth.
Shortly before May Day, President Miguel Diaz-Canel addressed the Cuban nation: “The socialist character of our revolution is not a phrase from the past; it is the shield of the present and the guarantee of the future.” With characteristic Cuban humility, he acknowledged “our own mistakes in this process of social construction” but added that “the main cause of our problems is the genocidal blockade.”
Directly addressing Washington – “gentlemen of manipulation and lies” – Díaz-Canel proclaimed: “Cuba is not a failed state; Cuba is a besieged state.”
Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.Donald Trump sings and dances, says that it’s fun to kill everyone … unless he gets distracted or falls asleep.
‘Capitalism cares about our species’ prospects as much as a wolf cares about the lamb’s.’ Photograph: Minerva Studio/Alamy
Capitalism cares about our species’ prospects as much as a wolf cares about a lamb’s. But democratise our economy and a better world is within our grasp
We have an urgent responsibility. Our existing economic system is incapable of addressing the social and ecological crises we face in the 21st century. When we look around we see an extraordinary paradox. On the one hand, we have access to remarkable new technologies and a collective capacity to produce more food, more stuff than we need or that the planet can afford. Yet at the same time, millions of people suffer in conditions of severe deprivation.
What explains this paradox? Capitalism. By capitalism we do not mean markets, trade and entrepreneurship, which have been around for thousands of years before the rise of capitalism. By capitalism we mean something very odd and very specific: an economic systemthat boils down to a dictatorship run by the tiny minority who control capital – the big banks, the major corporations and the 1% who own the majority of investible assets. Even if we live in a democracy and have a choice in our political system, our choices never seem to change the economic system. Capitalists are the ones who determine what to produce, how to use our labour and who gets to benefit. The rest of us – the people who are actually doing the production – do not get a say.
And for capital, the purpose of production is not primarily to meet human needs or to achieve social progress, much less to deliver on any ecological goals. The purpose is to maximise and accumulate profit. That is the overriding objective. This is the capitalist law of value. And to maximise profits, capital requires perpetual growth – ever increasing aggregate production, regardless of whether it is necessary or harmful.
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We urgently need to overcome the capitalist law of value and democratise our economy, so that we can organise production around urgent social and ecological priorities. After all, we are the producers of the goods, the services, the technologies. It is our labour and our planet’s resources that are at stake. And so we must claim the right to decide what is produced, how, and for what purpose.
Donald Trump urges you to be a Climate Science denier like him. He says that he makes millions and millions for destroying the planet, Burn, Baby, Burn and Flood, Baby, Flood.Nigel Farage urges you to ignore facts and reality and be a climate science denier like him and his Deputy Richard Tice. He says that Reform UK has received £Millions and £Millions from the fossil fuel industry to promote climate denial and destroy the planet.Orcas discuss Donald Trump and the killer apes’ concept of democracy. Front Orca warns that Trump is crashing his country’s economy and that everything he does he does for the fantastically wealthy.
Image of a private jet by Andrew Thomas from Shrewsbury, UK.
Billionaire investments in polluting industries such as fossil fuels and cement double the average for the Standard and Poor group of 500 companies – Oxfam
The investments of just 125 billionaires emit 393 million tonnes of CO2 each year – the equivalent of France – at an individual annual average that is a million times higher than someone in the bottom 90 percent of humanity.
Carbon Billionaires: The investment emissions of the world’s richest people, is a report published by Oxfam based on a detailed analysis of the investments of 125 of the richest billionaires in some of the world’s biggest corporates and the carbon emissions of these investments. These billionaires have a collective $2.4 trillion stake in 183 companies.
The report finds that these billionaires’ investments give an annual average of 3m tonnes of CO2e per person, which is a million times higher than 2.76 tonnes of CO2e which is the average for those living in the bottom 90 percent.
The actual figure is likely to be higher still, as published carbon emissions by corporates have been shown to systematically underestimate the true level of carbon impact, and billionaires and corporates who do not publicly reveal their emissions, so could not be included in the research, are likely to be those with a high climate impact.
“These few billionaires together have ‘investment emissions’ that equal the carbon footprints of entire countries like France, Egypt or Argentina,” said Nafkote Dabi, Climate Change Lead at Oxfam “The major and growing responsibility of wealthy people for overall emissions is rarely discussed or considered in climate policy making. This has to change. These billionaire investors at the top of the corporate pyramid have huge responsibility for driving climate breakdown. They have escaped accountability for too long,” said Dabi.
Jeff Bezos’s superyacht ‘Koru’ often travels accompanied by a smaller ‘support’ superyacht. Image by Conmat13 under the Creative Commons Attribution-Share Alike 4.0 International license via wikimedia.
“Emissions from billionaire lifestyles, their private jets and yachts are thousands of times the average person, which is already completely unacceptable. But if we look at emissions from their investments, then their carbon emissions are over a million times higher,” said Dabi.
Contrary to average people, studies show the world’s wealthiest individuals’ investments account for up to 70 percent of their emissions. Oxfam has used public data to calculate the “investment emissions” of billionaires with over 10 percent stakes in a corporation, by allocating them a share of the reported emissions of the corporates in which they are invested in proportion to their stake.
The study also found billionaires had an average of 14 percent of their investments in polluting industries such as energy and materials like cement. This is twice the average for investments in the Standard and Poor 500. Only one billionaire in the sample had investments in a renewable energy company.
The choice of investments billionaires make is shaping the future of our economy, for example, by backing high carbon infrastructure – locking in high emissions for decades to come. The study found that if the billionaires in the sample moved their investments to a fund with stronger environmental and social standards, it could reduce the intensity of their emissions by up to four times.
“The super-rich need to be taxed and regulated away from polluting investments that are destroying the planet. Governments must put also in place ambitious regulations and policies that compel corporations to be more accountable and transparent in reporting and radically reducing their emissions,” said Dabi.
Oxfam has estimated that a wealth tax on the world’s super-rich could raise $1.4 trillion a year, vital resources that could help developing countries – those worst hit by the climate crisis – to adapt, address loss and damage and carry out a just transition to renewable energy. According to the UNEP adaptation costs for developing countries could rise to $300 billion per year by 2030. Africa alone will require $600 billion between 2020 to 2030. Oxfam is also calling for steeply higher tax rates for investments in polluting industries to deter such investments.
The report says that many corporations are off track in setting their climate transition plans, including hiding behind unrealistic and unreliable decarbonization plans with the promise of attaining net zero targets only by 2050. Fewer than one in three of the 183 corporates reviewed by Oxfam are working with the Science Based Targets Initiative. Only 16 percent have set net zero targets.
Donald Trump urges you to be a Climate Science denier like him. He says that he makes millions and millions for destroying the planet, Burn, Baby, Burn and Flood, Baby, Flood.Nigel Farage urges you to ignore facts and reality and be a climate science denier like him and his Deputy Richard Tice. He says that Reform UK has received £Millions and £Millions from the fossil fuel industry to promote climate denial and destroy the planet.Keir Starmer commits to play the caretaker role for Capitalism through the “hard times”.
Prime Minister Keir Starmer departs 10 Downing Street, London, to attend Prime Minister’s Questions at the Houses of Parliament, November 12, 2025
IF KEIR STARMER intended to stave off a leadership challenge by advertising his readiness to fight one, he has miscalculated.
All his intervention has done is placed the question of his leadership at the top of MPs’ minds.
Perhaps identifying Wes Streeting as a possible challenger was intended to frighten the left away from triggering a contest — since Streeting is even further right than Starmer.
In practice it simply showcases the Prime Minister’s insecurity and the toxic culture Streeting accurately describes in Downing Street — where the government briefs against its own, and a leadership that has always relied on bans and expulsions to maintain authority descends into a “circular firing squad,” to use the ever eloquent Barry Gardiner’s phrase. Unlike Starmer, MPs might reflect, Streeting has never pretended to be on the left and as a Blairite true believer might at least try to govern through persuasion rather than fear.
Nobody should fear challenging Starmer: his government is as inept as it is cruel and is paving the way for a far-right Reform UK regime.
But Streeting is no solution. The Health Secretary would be a cosmetic change, no more: he’s wedded to the same policies of privatisation and cuts that have wrecked our public services and national infrastructure. Starmer loyalists point to the long death agony of the last Tory government as evidence that switching leader doesn’t help — and it won’t, without dramatic changes in Labour policy.
And that’s a problem. Starmer’s leadership exists to prevent change, not deliver it: its whole mission has been the destruction of Corbynism and the threat of a socialist-led Labour Party. That project was endorsed by the overwhelming majority of Labour MPs even before last year’s election brought in cohorts of carefully vetted conformists.
Keir Starmer refuses to be outcnuted by Nigel Farage’s chasing the racist bigot vote.Keir Starmer commits to play the caretaker role for Capitalism through the “hard times”.Keir Starmer says that the Labour Party under his leadership is intensely relaxed about assaulting those least able to defend themselves – the very poorest and most vulnerable.
Wes Streeting speaking about so-called ‘progressive capitalism’ at No1 Tower Place West, in central London, June 16, 2026
