BP profits up 23%

Posted: July 30, 2008 in society
Tags: , ,

Despite being at war with private shareholders of its Russian venture TNK-BP, having been hit by the Texas City refinery explosion, having troubles with pipeline fractures at the Prudhoe Bay field in Alaska, facing allegations of irregular propylene gas trading, and having generated non-operating item losses in the vicinity of US$ 2-3bn, BP profits rose 23% in the first half of this year (see an article in today’s Guardian). BP of course won’t be the only oil company raking in profits on the back of ecological vandalism, global warming, peak oil and growing global injustice. There has to be something wrong with our ethical values if those who are largely responsible for all those problems are the ones who profit the most rather than being held responsible.

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