submitted a bid to buy manchester united bbc sport understands that a rival bid was also tabled by ineos, owned by british billionaire, sirjim ratcliffe, before friday s deadline. now it s time for talking business. on the show, the windfalls of war, $200 billion, total amount of profit torrent last year alone by the world s major oil companies. president biden and other world leaders are accusing the oil companies of war profiteering at a time of a cost of living crisis not seenin time of a cost of living crisis not seen in a generation. instead of reaping the cash and paying much of it out to shareholders should big oil be pumping it back into exploration, or even into the great energy transition? i will be discovering all of that with these two. president of energy policy research foundation, and senior director of campaigns for the sierra club. also, clothes, food, tv, much of the energy that you use, all brought to you by a ship. i will be taking the pulse of the indus
energy crisis of the early 1970s. he is now president of energy policy retail foundation in washington. is now president of energy policy retailfoundation in washington. a pleasure having you on the show. oil prices have pretty much stabilised somewhere around 85 bucks per barrel in recent months butjust under one year ago it topped out at close to $130 per barrel. that resulted in huge profits for the oil companies. critics will say, including your president and other world leaders, it looks like war profiteering. how does the industry defend that? last ear does the industry defend that? last year there does the industry defend that? last year there are does the industry defend that? last year there are periods when industry makes a lot of money, there are periods when it loses money. nobody ever says, the oil industry is losing money, maybe we should give them money. i m not sure war profiteering is a good comet. most