Oil giant Exxon Mobil yesterday reported the biggest profit in corporate history- some $36.1bn (£20bn) after tax for 2005.
The profit was on the back of soaring oil prices. The company's turnover - some $371bn - would make it the 17th biggest economy, just behind Russia but ahead of Taiwan or Sweden.
The obscene profit will be ammunition to those people who think there should be a wind-fall tax on big oil earnings at the moment. What do you think?
More on that story of Britain's stagnated climate change strategy. The Guardian reports how the strategy has "been paralysed for seven months by a dispute between two Whitehall departments."
So yesterday we find out that Blair says climate change is worse than previously thought - the greatest threat facing humanity. Today we read about the reality of government. The Liberal Democrat environment spokesman, Norman Baker, puts it quite nicely: "I fear there are some in government, especially in the DTI [Department of Trade and Industry] and in No 10, that are quite happy to postpone decisions on climate change. The longer
Britain's Prime Minister Tony Blair has admitted that climate change could be much more serious than previously thought in a new government report on global warming published today. The report is a major update to a scientific conference held in Exeter last year by the British government on the subject.
Whilst everyone else gets excited about the potential for renewable energy, the Chief Executive of Shell, Jeroen Van Der Veer shows a remarkable lack of foresight or imagination. Writing in the Financial Times this week, Van Der Veer outlined his “vision for meeting energy needs beyond oil”.