"The war is not meant to be won, it is meant to be continuous. Hierarchical society is only possible on the basis of poverty and ignorance. This new version is the past and no different past can ever have existed. In principle the war effort is always planned to keep society on the brink of starvation. The war is waged by the ruling group against its own subjects and its object is not the victory over either Eurasia or East Asia, but to keep the very structure of society intact." George Orwell
BP profits hit record $13.4bn on soaring oil price
While Wall street crashes and thousands upon thousands of US citizens join the ranks of the homeless and the dispossessed it’s good to know there are still a few who are raking it in.
BP, the British oil giant, unveiled a 23 per cent rise in profits this morning, boosted by record global crude prices.
Replacement cost profit, which strips out unrealised gains from changes in the value of fuel stocks, hit a record $13.44 billion (£6.7 billion) during the first half of the year, up from $10.93 billion a year ago.
During the second quarter to June 30 2008, profits rose from $6.48 billion to an all-time high of $6.85 billion.
Despite the record result, the company said that it was struggling to restore earnings from its troubled US refining division and offered little news on TNK-BP, its Russian joint venture.