Outrage as oil giants profit billions from Iran war – The Latest

Outrage as oil giants profit billions from Iran war – The Latest

May 7, 2026 · 12 min

About this episode

The episode discusses the significant profits made by Shell during the Iran war and the implications for fossil fuel taxation.

Shell has made $6.9bn in profits since the Iran war began, cashing in on soaring energy prices. The enormous profits have reignited calls for higher taxes on fossil fuel companies to fund support for those hardest hit by rising costs. Lucy Hough speaks to the Guardian’s energy correspondent, Jillian Ambrose – watch on YouTube . Help support our independent journalism at theguardian.com/infocus

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