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BP Gets Off Lightly, So Far

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BP gets off lightly, so far

Fair play to BP, which has plainly been on a Google optimisation training course.

Today it posted record profits and braced for howls of protest.

But if you Google BP profits so you can get stuck in, the first result takes you to its own results statement, which I have not seen managed before.

They got their retaliation in first – a gold star for the new kid with the tech smarts.

Other takes on it were less kind, many following the BBC’s theme: BP scales back climate targets as profits hit record.

The American press were gentler, as they usually are on this stuff, with CNBC going for BP posts record earnings to join Big Oil profit bonanza.

In the US, a profit bonanza is a good thing. It’s just here we hate it.

I think BP made a decent fist of explaining its position, at least to those inclined to listen.

But even the FT had its shift back towards oil and gas as a “major U-turn”.

U-turns are always bad, in hack-land anyway.

I think it may be BP and Shell’s fortune that the present government is not minded to interfere in its operations too much, beyond some windfall taxes.

Even if public opinion is highly in favour of going much further than that.

For our Find Out Now poll this week, we asked: To what extent do you agree or disagree that the energy industry (BP, Shell, British Gas, etc.) in the UK should be nationalised, and brought into state control?

Agree: 56% (34% Strongly)

The figures are even stronger if you take out those who prefer not to say.

You can see the full results below.

Press release of the day

The government claims its UK strikes bill will bring it in to line with “many other modern European countries”.

This from UK In a Changing Europe says – not so. The bill is much more draconian.

Prof Catherine Barnard said “The government is entitled to propose legislation which lays down the process for minimum service levels. However, the current Bill does not reflect practice in most European states, nor does it comply with the requirements of the International Labour Organisation.”

Stories that will keep rolling

1) What are newly falling fixed rate mortgage costs doing to Barratt sales?

2) Is the ethical fund sector finished?

3) What blockbusters has Disney got up its sleeve?

4) Does PZ Cussons see inflation coming down?


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