With wildfires and scorching heat battering continental europe over the last few weeks, the climate crisis is very much at the forefront of a lot of people's minds. But, despite it becoming an increasing issue, oil giants like BP are still reporting massive profits, angering many who're struggling to pay bills and activists alike.
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00:00 Oil and gas company BP is to return another $1.5 billion to their investors through a
00:07 share buyback. That's after they reported profits of $2.6 billion or £2 billion for
00:13 the second quarter of the year, news which has angered struggling bill payers and climate
00:17 change protesters alike. But it's actually a massive decrease of around 70% on their
00:22 profits from the same time frame last year. They've put the drop down to falling oil and
00:26 gas markets after last year's spike due to Russia's invasion of Ukraine.
00:31 Tommy Vickerstaff, a lead UK campaigner for 350.org, said "We're almost desensitised to
00:37 BP's profits at this point" and added that "there is nothing normal or routine about
00:41 BP's profit margins or about the destructive heatwaves we're seeing across Europe that
00:46 BP is directly responsible for causing." In response, BP's chief executive Bernard Looney
00:51 denied the company had profited from war and said investments they plan to make will contribute
00:56 to the stabilisation of the energy system of today.