The petrol prices are a record high. We are all suffering. But the oil companies are making record profits. The Gov is not interested in doing anything Why?
"BP has reported a 63 percent jump in profits in the first quarter compared to the same period a year ago.
The oil company on Tuesday reported a profit of $7.6 billion compared to $4.4 billion in the first quarter of 2007.
First-quarter profit was up 73 percent compared to the previous quarter.
BP's closely watched replacement cost profit rose 48 percent to $6.59 billion. This compared to US$4.44 billion in the first quarter of 2007."
Look at This.
"Anglo-Dutch energy giant Royal Dutch Shell said Tuesday that first-quarter net profits leapt 25 percent to 4.58 billion pounds because of record-breaking crude oil prices.
Crude oil prices smashed record after record in the first quarter and hit an all-time high of almost 120 dollars per barrel on Monday on the back of a British refinery strike and simmering tensions in key producer Nigeria.
Net earnings on a current cost of supply (CCS) basis, excluding fluctuations in the value of inventories, were up 12 percent to 3.92 billion pounds in the three months ending March 31, compared with the same period of 2007."
And This.
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