Amnesty International said Saudi Aramco’s profits were “shocking”, and should be used to fund a “human-rights-based” transition to renewable energy.
“It is shocking for a company to make a profit of more than $161bn in a single year through the sale of fossil fuel – the single largest driver of the climate crisis,” said Agnès Callamard, Amnesty International’s secretary general. “It is all the more shocking because this surplus was amassed during a global cost of living crisis and aided by the increase in energy prices resulting from Russia’s war of aggression against Ukraine.
“It is past time that Saudi Arabia acted in humanity’s interest and supported the phasing out of the fossil fuel industry, which is essential for preventing further climate harm.”
They’ve certainly strayed from that start as being against the Fascist oppression of prisoners here in Portugal, haven’t they? Just another bunch of gobshite loudmouths now.
However, they’ve misunderstood Aramco’s profits. For BP, Shell etc, their profits are after the resource rent taxes paid to the nations that actually own the oil. Aramco’s profits are including – because that’s how the Saudis did it. They have, effectively, capitalised the tax revenue into the share price.
They’re not comparable numbers in the slightest.