the turkish city of antakya is one of the most severly damaged, with some of the country s significant historic monuments lying in ruins. now on bbc news, talking business. hello, everybody. a warm welcome to talking business weekly with me, aaron heslehurst. on the show, the windfalls of war. $200 billion, the total amount of profit taken 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 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, 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 industry with the big boss at the head of the world
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 discussing all of that with these two. president of energy policy research foundation, and senior director of energy campaigns for the sierra club. also, your clothes, food, tv, much of the energy that you use, all brought to you by a ship. so i will be taking the pulse of the industry with the big boss at the helm of the world s biggest shipping company. wherever you are watching, hello, and welcome to the show. 2022 was a tough year for the global economy. just as we began to see the green shoots of recovery from the covid pandemic, russian tanks rolled into ukraine, throwing europe into armed conflict for the first time in over two decades. it s a strategic hotspot, a country with close links to the east and the west, and essentially a buffer zone between russia and its nato adversaries to the west. and because of western sancti
so 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 discussing all of that with these two. president of energy policy research foundation, and senior director of energy campaigns for the sierra club. also, your clothes, food, tv, much of the energy that you use, all brought to you by a ship. so i will be taking the pulse of the industry with the big boss at the head of the world s biggest shipping company. wherever you are watching, hello, and welcome to the show. 2022 was a tough year for the global economy, just as we began to see the green shoots of recovery from the covid pandemic, russian tanks rolled into ukraine, throwing europe into armed conflict for the first time in over two decades. it s a strategic hotspot, a country with close links to the east and the west, and essentially a buffer zone between russia and its nato adversaries to the west
to secure their own survival to 2050 and beyond? let s get those answers from a man who is a big figure in the us oil industry, and has been working on oil politics since the energy crisis of the early 1970s. he s now president of the energy policy research foundation in washington. lucian puliarisi, a pleasure having you on the show. i know you like to go by lou. oil prices have pretty much stabilised somewhere around 85 bucks a barrel in recent months butjust under one year ago, it topped out at close to $130 per barrel, and that resulted in huge profits for the oil companies. and you know this, lou, critics will say, including your president and other world leaders, it looks like war profiteering. how does the industry defend that? there are periods of time when the industry makes a lot of money, but there are periods when it loses money. nobody has a meeting on capitol hill to say, this is horrible, the oil industry is losing money,
from a man who is a big figure in the us oil industry, and has been working on oil politics since the energy crisis of the early 1970s. he s now president of the energy policy research foundation in washington. lucian puliarisi, a pleasure having you on the show. i know you like to go by lou. oil prices have pretty much stabilised somewhere around 85 bucks a barrel in recent months butjust under one year ago, it topped out at close to $130 per barrel, and that resulted in huge profits for the oil companies. and you know this, lou, critics will say, including your president and other world leaders, it looks like war profiteering. how does the industry defend that? there are periods of time when the industry makes a lot of money, but there are periods when it loses money. nobody has a meeting on capitol hill to say, this is horrible, the oil industry is losing money,