BP scales back climate targets as profits hit record

It is the latest energy giant to report record annual profits after oil and gas prices soared last year. …

Andrew Griffith, Economic Secretary to the Treasury, who the BBC spoke to for the government’s position, said the windfall tax struck the “right balance” between helping families with the cost of living and securing the UK’s energy supplies. He said its aim was to encourage re-investment of the sector’s profits back into the economy


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