Glasgow climate scientist calls for change to ‘rigged’ tax system after BP records major profits
A Glasgow-based climate scientist has slammed the “rigged” UK system after BP recorded huge profits over just three months.
The firm announced the bumper profits of $5 billion (£4 billion) in its quarterly report, which follows the oil giant turning a record annual profit last year.
Climate scientist-turned-activist Jennifer Newall, 33, said: “This £4bn in profit has come at the same time as our energy bills continue to rise with households and businesses across Scotland suffering as a result.
“I fail to understand how anyone can justify, let alone celebrate such obscene profits while the cost of living crisis – driven by rising fuel prices – is literally killing people.
“Across the UK in Dec alone there were more than 1000 excess deaths which could be attributed to cold, damp living conditions. “
She added: “How much clearer can it be that we need systems change away from this rigged system – a system which enables the very same industries whose ‘success’ is responsible for climate breakdown to receive millions in subsidies and tax breaks from the government, while we the people are struggling to survive.”
The news has also sparked renewed calls for a windfall tax on excess oil and gas profits.
Former Labour leader and shadow energy secretary Ed Miliband dismissed the Conservative party’s attempt at instituting such a tax, saying: “The Tory windfall tax is still full of get-out clauses, with billions being bunged at oil and gas companies in special subsidies not available in any other part of the energy sector.”
Referring to the impact of the cost of living crisis, BP’s finance chief Murray Auchincloss told the Guardian: “We know how difficult a time it is. We get it.”
He refused to “speculate” as to whether a windfall tax would be introduced.
