BP making $1.8 million an hour

The oil giant BP, Britain's biggest company, yesterday revealed profits of more than £1 million an hour, helped by soaring fuel prices. It made £2.34 billion profit in the past three months, as oil prices were pushed to record levels by a combination of strong world demand and disruption to supplies caused by wars and bad weather. If the company continues its success to the end of the year, it is likely to post one of Britain's biggest ever annual profits.

Flashback
The Oil Presidency
The news of the oil price dip was all the rage yesterday, so let's talk oil prices, hovering at $40 per barrel. In real terms, they are still below the peak, but four times higher than they were one president ago. What was everywhere known as the all-oil ticket became the oil presidency that has indeed yielded hugely high prices for oil.

Posted by Editor at October 27, 2004 01:00 PM