Miliband Slams BP Profits, Backs Windfall Tax

0:00On April 29th, Ed Miliband, the Energy Secretary, went hard at BP this week, calling their profits morally and economically wrong. The company just dropped first quarter numbers showing $3.2 billion in earnings. More than double last year's $1.4 billion. That's their biggest haul since 2023. Oil prices shy past $112 a barrel for the first time since late March, fueled by tensions with Iran. Miliband backs the government's windfall tax on these extra gains from higher energy costs, using the cash to ease living expenses for families. Crit expired back quick, saying the tax is slashing jobs in the North Sea and putting UK energy security at risk. Thousands of workers are hurting, they claim, while big reserves sit untouched. The energy profits levy kicked off under the Tories after Russia's Ukraine invasion in 2022. Labor jacked it up to a 78% rate, stretched it to 2030 and blocked new drilling on fields

1:01like Jackdaw and Rosebank. This clash highlights the tightrope between raining and oil giants and keeping energy flowing steady, especially with pump prices and bill still, fighting hard.