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The Soaring Oil Price : the Winners and Losers »

Date Posted: 30 April 2008

This week’s announcements by the giant oil companies, BP and Shell, that their combined profits amounted to around £7 billion in the first quarter of this year alone are unlikely to have brought much cheer to motorists facing petrol at £5 a gallon. Some people have already accused the companies of profiteering at the expense of the rest of us.

No one, of course, is saying that the companies themselves are responsible for the rise. Rather it’s being suggested that the windfall gains they are enjoying because of it need to be spread about more fairly.

Back in 19 ... full article ...

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