BP - Obscene Profits!

Post by **bmcecosse** » Wed Oct 29, 2008 9:20 pm

I see BP are in the news for making obscene profits from motorists. Calls all round for them to reduce their Forecourt prices by up to 10P. This of course won't happen - so I can only suggest Motorists vote with their cars - and avoid BP Petrol Stations if at all possible!

Post by **paulhumphries** » Wed Oct 29, 2008 9:41 pm

What doesn't seem to be in the news is that the rise in gas and electricity has been blamed on high oil prices. I believe there is some sort of indexing that allows rises in line with crude.
I've had British Gas, my gas and electrricty provider, ring me up the other week and inform me direct debits are increasing by £70 pm.
What's the betting they won't now come down in line with crude

Paul Humphries

Post by **bmcecosse** » Wed Oct 29, 2008 9:45 pm

Ahh - Auld Broon is on to this one - he is going to sort it out, don't you worry ! Aye right!

Post by **alanworland** » Wed Oct 29, 2008 11:20 pm

I heard calls for a tax on excessive profits, so the government can rake in EVEN MORE.
Unless of course the extra tax is taken off fuel duty?

Post by **Alec** » Fri Oct 31, 2008 6:22 pm

Hello all,

the figures for oil company profits (or any other conglomerate), as far as I have seen, just publish the profit. That is meaningless unless you also know what turnover generated that profit.
Newspapers love to publish such 'facts', it helps sell their papers, whether the report is balanced doesn't enter into it.

Alec

Post by **bmcecosse** » Fri Oct 31, 2008 6:29 pm

And now SHELL have even higher obscene profits!
Don't imagine any rake taken by Broon will be offset against Fuel Duty - you can be sure as soon as the Glenrothes election is over he will be increasing Fuel Duty anyway! He daren't do it before - but win or lose it WILL go up after that election!

Post by **chickenjohn** » Sat Nov 01, 2008 9:22 am

Alec wrote:Hello all,

the figures for oil company profits (or any other conglomerate), as far as I have seen, just publish the profit. That is meaningless unless you also know what turnover generated that profit.
Newspapers love to publish such 'facts', it helps sell their papers, whether the report is balanced doesn't enter into it.

Alec

Basic accountancy:- profit= revenue-costs

The costs for a petrochemical company (I believe) are relatively constant as the bulk of the cost is in maintianing the infrastructure needed to get the oil out of the ground, refine it and get it to the forecourts- oil rigs have to be maintained and staffed regardless of the price of petrol. They also have to buy and sell some oil because in the UK North sea oil has to be blended before being refined.

Therefore if the costs are near constant and the profit soars, then they have been ripping off the customer by charging too much to generate the revenue- the motorist and domestic energy users- you and me- by putting up petrol prices up quickly when the price of oil soars and not dropping prices fast enough when oil drops.

BMC is right, record oil company profits mean only one thing- we are being ripped off.

Post by **rayofleamington** » Sat Nov 01, 2008 11:22 am

The people who are really being ripped off are the likes of those born in Nigeria. For example the fishing communities who's fishing industry was destroyed by oil company's pollution.
As a second example - those in Nigeria with uni qualifications who can't get jobs with the oil industry because they are 'locals' and therefore too risky. It comes to something when you can't fish your own coast and can't work in your local industry either.
The oil company makes a mint and we live in luxury - others starve (or worse) as a result.

Much as I hate excessive profits, I've got my own reasons for avoiding certain companies!

Many people think 'third world debt' is what Africa owes us. Much of the reallity is the other way round, as the rich economies are still ripping off the poor to maintain our standard of living (oil / coffee beans / tea plantations / diamonds and the list goes on ad infinitum)

Post by **aupickup** » Sat Nov 01, 2008 12:36 pm

well put ray

Post by **chickenjohn** » Sat Nov 01, 2008 1:10 pm

rayofleamington wrote:The people who are really being ripped off are the likes of those born in Nigeria.

Nigeria is one of the most corrupt countries in the world. You can't blame the oil companies for all Africa's troubles or try and make westerners feel guilty when Africa has caused a lot of its own problems by corruption and despotic and incompetent rulers (Mugabe etc).

As for fishermen, I feel sorry for the small British fisherman who has his catch restricted while Spanish factory ships hoover up the North sea destorying our fish stocks.

But thats besides the point, we ARE being ripped off by the oil companies. Its the OPEC cartel that is holding us to ransom, you can do your bit by shopping around for the cheapest local petrol . I wouldn't say most people in Britain live in luxury (we get by mostly), due to rip-off energy prices more people are going to struggle to afford to heat their homes and people will die in the UK because of that.

Post by **rayofleamington** » Sun Nov 02, 2008 1:38 am

We all have to make choices in life and how we justify them is personal. There are plenty of positive choices to make and these may involve supporting companies that have morally acceptable ethics, whilst avoiding companies that either rip us off or those who rip others off. If this is how you see life or not, it's up to you and nothing to do with me.

When it comes to a debate regarding western standards of living compared to others, and who deserves to suffer due to greed, I'm likely to take the bait.

Nigeria is one of the most corrupt countries in the world.

Ah - thanks for that - I hadn't realised there was justification for the western oil companies paying to assasinate good people who campaigned for fair treatment. Now I know better - Nigerians don't deserve fair treatment...

[Supporters of Ken Sarowiwa may not agree.]

As for fishermen, I feel sorry for the small British fisherman

Fortunately as you aren't Nigerian you can say things like that without fear of torture.
If you're happy to criticise one government for an industry facing ruin, how come that as soon as it affects an African country you think many people (e.g. in Zimbabwe) without food and basic human rights thanks to their government deserve it? I wouldn't want to mention Mugabe without the reminder of why and by whom the country's farmland was originally stolen from the people, and more recently who left the current regime in charge.

I wouldn't say most people in Britain live in luxury

I can only imagine that you've never been to the real poor places in the world, or prefer not to know about it. Those that can't afford shoes to walk to a school they can't afford to attend, or those forced from their homes living in squalid disease ridden camps may be more able to understand the difference between poverty and luxury than those who think that western lifestyles are not luxurious.

I'm not saying any country/government is (or will ever be) innocent in regards to treating all people fairly. However when it comes to feeling a "victim" for 10p extra a litre, I wish a few more people would remember how many millions have died and tens of millions are suffering REAL hardship as a result of wealth, greed and power of those who already have plenty.

Post by **MortisMinor** » Sun Nov 02, 2008 8:02 am

However when it comes to feeling a "victim" for 10p extra a litre, I wish a few more people would remember how many millions have died and tens of millions are suffering REAL hardship as a result of wealth,

What are the Petrol stations are you talking about. Ive never heard of a petrol station that tryes not to ruin the enviroment around there rigs. I would definatly choose to go to thease sort of companys when i can drive my minor.

Post by **rayofleamington** » Sun Nov 02, 2008 5:17 pm

What are the Petrol stations are you talking about.

Good question!
Some petrol stations belong to large companies that have terrible ethics - sadly finding one that is not is no mean feat IMHO.
Even then, they have to buy fuel from the refineries who are linked with the main oil companies so you can only avoid one piece of the mess. However with bio fuels becoming available on more forecourts, the choice starts to open up again.