Windfall tax urged as profits soar to £68bn
Phillip Inman
The Guardian, Monday April 28 2008
The world’s big oil firms, including BP and Shell, are expected to announce a jump in profits of more than a quarter this week. BP’s profits are expected to soar by more than 40% and Shell’s by around 15% as the rocketing price of oil boosts their finances for the past three months.
Together, the two firms are expected to see their profits reach £68bn this year.
Protesters are expected to claim that the firms are profiteering and should face a windfall tax to channel some of the surplus back into public services.