see something wrong with the fact that we are going to experience 50-100% increases in heating costs and BP experiences a 34% increase in quarterly profits?
BP PLC, one of the world’s largest oil companies, reported a 34 percent rise in quarterly profit Tuesday as record energy prices more than outweighed hurricane damage to its rigs and refineries.
BP said net profit for the three months ended Sept. 30 rose to $6.53 billion, up from $4.87 billion in the third quarter of 2004. Revenue jumped to $97.73 billion from $66.73 billion.
“The recent hurricanes in the U.S. have impacted our results. However, underlying performance is strong, amplified by high but volatile prices of oil, gas and products,” said Chief Executive Lord Browne. (Source: Jane Wardell, Associated Press)