US president pauses ‘Project Freedom’ to work on ‘final agreement’ with Tehran; stocks also ride high on AI euphoria
The UK’s biggest gas supplier has angered campaigners by reporting a larger than expected surge in profits as households brace for a hike in energy bills this summer.
The ongoing conflict in the Middle East helped Norway’s state-owned oil company, Equinor, to a profit of $9.77bn for the first quarter of this year, its highest quarterly earnings since 2023 when Russia’s invasion of Ukraine triggered a surge in gas market prices.
Like BP last week, these are unearned windfall profits driven by Trump’s war with Iran.
Equinor now wants to cash in even more by developing the Rosebank oil field, which would be a terrible deal for the UK. This government must put the needs of the British public – for affordable energy and a safe climate – ahead of this Norwegian oil giant’s relentless pursuit of profit.
Continue reading...Source: Guardian - World News
