Shell profits, kids go hungry

During the bank holiday weekend, campaigners gathered outside a supermarket in Hackney to protest against the increasing cost of living and the high profits of oil and gas companies. 

Fossil Free London organized the demonstration, featuring two trolleys: one pushed by a campaigner dressed as an oil executive, filled with sacks of money, and another containing placards resembling common food items. 

These placards showed the current prices of the items and their recent price increases. One stated, “Orange juice, £1.79, up 130 per cent.” A banner behind the trolleys proclaimed: “Shell profits. We pay the price.” 

Laughing

This protest coincided with the announcement that Shell’s first-quarter profits surged by 115 per cent. Meanwhile, food prices in Britain are expected to increase by 50 per cent since the start of the cost of living crisis, influenced by climate and energy disruptions. 

Robin Wells from Fossil Free London remarked, “Big Oil companies are vultures. They exploit crises, wars, and human suffering for profit, while undermining the earth’s life-sustaining systems. As long as the fossil fuel industry exists, humanity’s survival is at risk, and life becomes increasingly difficult. Shell continues to profit, and we’re all bearing the cost, which is only growing.”

Stu, from Fuel Poverty Action, commented, “It is unacceptable that so many people are deprived of basic energy for heating, eating, and lighting because of high costs. Shareholders are profiting, and the government is allowing it. Already, £500 of our energy bill goes to profits, and this will rise if politicians do not act.”

Profits

He continued, “Fuel Poverty Action urges the government to curb energy company profiteering and reduce bills by passing the benefits of affordable renewable energy back to consumers.”

In a related development, environmental campaigners have cautiously welcomed Rachel Reeves’ pledge to tackle oil and gas profits. Her plan includes closing a tax loophole on overseas activities to generate hundreds of millions of pounds.

British Chancellor Rachel Reeves announced she would prevent firms, including oil and gas giants like BP and Shell, from lowering their tax obligations using corporate structures with foreign branches. This was part of a recent speech outlining support measures for households and businesses facing the cost of living crisis.