High oil prices lift BP's profits - HotUKDeals
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High oil prices lift BP's profits

kyalion Avatar
8y, 2m agoPosted 8 years, 2 months ago
I will be boycotting BP from now on as they are clearly "profiteering" from the recent crisis around the globe.

You and me, and everyone else who has used BP have helped with their record 148% profit increase with inflated prices.

Anyone else feel like me, and going to boycott BP from now on ?

Full story : http://news.bbc.co.uk/1/hi/business/7694508.stm
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kyalion Avatar
8y, 2m agoPosted 8 years, 2 months ago
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#1
i stopped using them a while back when they were'nt lowering their prices quick enough in line with other stations
#2
And where are you going to buy petrol from? All of the oil companies have made huge profit from high oil prices, that's how they do business!
#3
prices are gonna go back up,

the company that run the middle east, and arabs oil supply, OPec, have decided to stop production of oil by 1.5 million barrels a day because the price isn't as high as they would like

profiteering ?? i think so

you can't do a lot about this as they supply something like 70% of all world oil, so the prices will go up again

if BP didnt make a profit, the shareholders wouldn't buy shares, they need shareholders so by posting huge profits, they are getting the price of the shares higher, and more shareholders jump on board
banned#4
At least the company tax on their profits they pay will go some way to bailing me and my fellow icesavers out of our Icelandic bank losses :)
banned#5
faevilangel;3308075
prices are gonna go back up,

the company that run the middle east, and arabs oil supply, OPec, have decided to stop production of oil by 1.5 million barrels a day because the price isn't as high as they would like


1.5M barrels is only 2.5% of the worlds daily consumption. This was announced a week ago and Brent crude has gone up by $1 so I still expect it to come down a little bit more in the next few weeks to about 90p a litre. it cant go any lower as 70p of that 90p is tax! :w00t:
#6
csiman
1.5M barrels is only 2.5% of the worlds daily consumption. This was announced a week ago and Brent crude has gone up by $1 so I still expect it to come down a little bit more in the next few weeks to about 90p a litre. it cant go any lower as 70p of that 90p is tax! :w00t:


opec are gonna keep reducing the amount they produce becos they want the price back up...... they have a monopoly and are looking to use it to their advantage
#7
Since 2004, Sainburys struck a deal with BP, so they are in effect one and the same company. There are most likely other interdependencies and contracts so to boycott them all you would have a hard job.
banned#8
faevilangel;3308180
opec are gonna keep reducing the amount they produce becos they want the price back up...... they have a monopoly and are looking to use it to their advantage

its not quite that simple otherwise they would just reduce the output by 50% and prices would quadruple.

They do have a monopoly of which the UK is a part of. The USA would just invade saudi arabia if it came to it. Instead, they supply them with all the arms and 'defence' machinery they want.
#9
csiman
its not quite that simple otherwise they would just reduce the output by 50% and prices would quadruple.

They do have a monopoly of which the UK is a part of. The USA would just invade saudi arabia if it came to it. Instead, they supply them with all the arms and 'defence' machinery they want.


my overall point is, fuel is gonna increase again, people rely on oil being high so will go to methods as such as opec to get the price they want,

its annoying though how much tax we pay on fuel, thats whats been putting me off driving

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