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  • Oil companies make record profit - while prices for customers rise.

  • This is News Review from BBC Learning English. I'm Neil.

  • And I'm Beth.

  • Stick with us to the end of the video and you'll learn vocabulary about making money.

  • Yes, you will. And don't forget - subscribe to our channel, like this video, and try the quiz on our website.

  • Now, today's story.

  • Almost 60 billion dollars in three months, that's how much profit the world's five biggest oil companies made in the last quarter.

  • It comes as energy bills for consumers continue to rise to record levels.

  • The high profits are caused by increasing prices for oil and gas because of the war in Ukraine, experts say.

  • You've been looking at the headlines, Beth. What's the vocabulary?

  • We have 'profiteering', 'laughing all the way to the bank' and 'shatter'.

  • This is News Review from BBC Learning English.

  • Let's have a look at our first headline.

  • This one comes from The Guardian: BP accused of 'unfettered profiteering' as profits triple

  • Now, the word we are looking at is 'profiteering', and there's a big clue in the first half of that word.

  • Yep. So, the first half of that word is 'profit'. That's the money that you make when you sell something.

  • Yeah. And the word 'profit' itself is fairly neutral.

  • There's nothing negative or positive about the word 'profit'.

  • Yeah. That's right, but 'profiteering' is different.

  • So, the activity of 'profiteering' is about unfairly making money, and this is often because the people buying have no choice.

  • Yes. So, people who are critical of the oil companies say that consumers, that's people like me and you, are being treated unfairly.

  • They don't understand why these big profits from the oil companies are not passed to consumers and why the prices keep going up.

  • And in this headline, it says the profiteering is 'unfettered'. Now, that means 'without limits'.

  • So, the writer thinks there's no control over this profit making.

  • Have you got any other examples of 'profiteering'?

  • Yep. So, sometimes lenders are accused of profiteering.

  • So, people with very little money might be desperate for a loan.

  • But if these people are only offered very high interest rates, we might say that the lenders are profiteering.

  • Let's take a look at that one more time.

  • Let's have our next headline.

  • This one comes from The Independent: BP 'laughing all the way to the bank' with bumper profits while households face poverty, say campaigners

  • So 'bumper profits' first.

  • 'Bumper profits' just means 'really huge profits'.

  • But we're looking at the expression 'laughing all the way to the bank'.

  • It's a set expression, and it's very descriptive.

  • Yeah, I mean, clearly, if you're laughing, you're happy, right?

  • Yes, you think so. And if you have just made a lot of money, and also you need to take it somewhere safe to store it - probably a bank.

  • Yep. And I mean, nowadays, you probably wouldn't literally take a huge pile of money while laughing down to the bank. But it's a nice image, isn't it?

  • It is. But it's not just about making money, is it?

  • No, it's not. There's also a sense with this expression that it was very easy to make the money, and because it was so easy - then perhaps it wasn't fair.

  • As an example, if I sold my car for much more than it was worth, and the person who bought it didn't ask any questions - didn't ask me for a discount.

  • Yep. Then you'd be laughing all the way to the bank.

  • I really was laughing all the way to the bank.

  • But that didn't happen, right?

  • No. I would never do such a thing.

  • Let's take another look at that.

  • Let's have a look at our next headline, please.

  • This one comes from the Financial Times: ExxonMobil and Chevron shatter profit records after global oil price surge

  • We are looking at 'shatter'.

  • I know what 'shatter' means, Beth. If you drop a glass on the floor, it shatters; if you throw a brick through a window, the glass shatters.

  • Yeah, you're right.

  • And when the glass breaks, it shatters into lots of tiny little pieces.

  • So, it's quite dramatic and possibly spectacular.

  • And that's the sense here.

  • If you break a record in a big way, we can say you shattered the record.

  • But it's not just records that you can shatter.

  • No, you can also have your dreams shattered.

  • Now, Neil. Have you ever had your dreams shattered?

  • Well, when I was growing up, I always wanted to play football and cricket for England.

  • And were your dreams shattered because of injury?

  • No. I just realised I wasn't good enough.

  • Oh dear. Well, don't give up.

  • Let's look at that again.

  • We've had 'profiteering' - making a lot of money unfairly.

  • 'Laughing all the way to the bank' - again, making a lot of money, but easily, possibly also unfairly

  • And 'shatter' - break something dramatically.

  • Don't forget to try the quiz on our website: www.bbclearningenglish.com.

  • Thank you for joining us, and goodbye.

  • Bye.

Oil companies make record profit - while prices for customers rise.

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