Displaying items by tag: huge profits

A UN report has revealed record levels of methamphetamine and synthetic drug production in East and Southeast Asia, primarily sourced from the Golden Triangle, where Thailand, Myanmar, and Laos meet. Historically known for opium and heroin production, the area now sees massive methamphetamine production, fuelling the illicit economy by an estimated $80 billion a year. Political instability, especially in Myanmar's lawless frontier regions, has exacerbated drug production. In 2023, a record 190 tons of methamphetamine were seized in the region, 89% of it from Southeast Asia. The report also noted record seizures of ecstasy and the increasing presence of ketamine, a powerful anaesthetic used both medically and recreationally. Drug networks have diversified, spreading production from Myanmar's Shan State to other regions in the lower Mekong River basin.

Last week you prayed for ‘wise costing and balancing by energy firms, oil giants and the government so that the cost of living remains stable’, after oil giant Shell announced profits four times higher than last year. This week BP reported its highest profit for eight years. The very same energy prices that have spelt crippling bills for consumers have prompted BP's boss to describe his operation right now as a ‘cash machine’. A combination of resurgent demand and geopolitical tensions means that wholesale gas prices are five times higher than before the pandemic - while oil prices have almost doubled. BP and Shell could make £40bn in profits this year, enough to cover the energy bills of the majority of UK households, renewing calls for a windfall tax. But the Chancellor fears it could damage investment in lower-carbon forms of energy, because energy giants' profits, tied as they are to global prices, are very volatile.