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From The Socialist newspaper, 16 February 2006
The real cost of BP mega-profits
OIL GIANT British Petroleum (BP) made £11 billion in annual profits in 2005, 25% up on the year before. But that record-breaking surplus would become an £18 billion loss if you start calculating the firm's damage to the environment, says Britain's Treasury!
BP operations are responsible for 6% of the total world output of greenhouse gas emissions. The Treasury worked out that paying these costs - £29 billion in environmental charges - would totally wipe out BP's profits.
As reported last week, Coventry Socialist Party councillor Dave Nellist was invited onto a nationwide radio show to comment on BP's rival Shell who made nearly £13 million profit during 2005.
The oil giants' windfall, Dave pointed out, was made on the back of record fuel prices caused by such factors as global greenhouse gas emissions and wars and insecurity. Now, the Treasury figures back his claims up.
Dave Nellist proposed bringing Shell, BP and other globally exploiting and polluting energy companies into democratic public ownership so society could plan its energy needs. Unfortunately, the Treasury (proprietor Gordon 'Privatiser' Brown) is not likely to agree with Dave's solution to the problem!
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The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.
The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.
The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.
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In The Socialist 16 February 2006:
ID cards: 'Creeping compulsion' and grovelling MPs
The real cost of BP mega-profits
Universities and the arms trade
Haitian poor rebel at suspected poll-rigging
Building an alternative to the profit system
New Labour attacks the sick and disabled
Keep fighting New Labour's Education Bill
Labour's pro-business policies are punished
Lesbian, Gay, Bisexual and Transgender History Month
Striking postal workers build support
Marching for jobs and services
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