BP reported a surge in profit Tuesday, which followed similar windfalls for other major oil and gas firms last week
f you want an illustration of the political perils of making huge oil and gas profits in the UK, look no further than a £400 charitable donation from the boss of BP Plc.
Looney, whose salary this year is £1.4 million, has little need of the extra funds that will go to every household in the country. But the incident is nonetheless of prime importance for a company like BP. Analysts at Cornwall Insight said they expect a typical household’s energy bill to be well over £3,000 until at least the end of 2023, an unprecedented increase that would plunge millions into poverty.
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