BP is on course this year to announce the largest profits ever by a British company, with annual profits of over $21bn (£12bn). This is despite the company taking a billion dollar hit over the fallout from Hurricane Katrina. The company’s giant windfall is due to the recent high oil prices.
BP is not the only one making obscene amounts of money from oil at the moment. The US Department of Energy has forecast that OPEC’s revenues will increase by 10 per cent to a record $522bn this year – this would be the largest in real terms in 25 years.
Chris Finlayson obviously likes a big challenge. Having been running Shell’s highly controversial operations in Nigeria, where the company has repeatedly been cited for environmental pollution and for being complicit in human rights abuses, he has moved to head up Shell’s operations in Russia.
Wimps! Sissies! Cowardly! Un-American! That's what Cheney, Bush and co are, according to Times pundit Thomas Friedman, because they won't embrace alternative energy. He says "green is the new, red, white and blue," meaning that getting off our oil addiction is a "national security imperative" and that energy efficiency and conservation is "the most tough-minded, geostrategic and patriotic thing we can do."