And a dry hard rimming at that.
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Shell Profits £32.2 billion
- Thread starter Gundoggin
- Start date
SilverFox2
Well-Known Member
Do you think that the extra tax monies compared to budget predictions for all petrol companies can be classed as causing inflation?Care needed here. She’ll is a multi national operating in about 80 countries. Uk is a relatively small part, just 10% of the size of their US business. So most of these profits not earned in our market.
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metalblue
Well-Known Member
Even the most ardent adherent to free market Friedmanomics must concede that this is absolutely obscene.
No company should be tripling their already multi-billion dollar profits off the back of an illegal bloody war and by robbing the pockets of the poor.
I am very much pro-capitalism, I believe it an imperfect system but by far the best system we have in this world, but this is nothing more than disgusting greed and profiteering.
The energy and utilities sector has been long overdue for proper regulation. But such is their enormous lobbying power no politician will touch it, besides the cranks on the far left who have no realistic hope of getting in power to action change in the first place.
Shell profits:
2014-2019 averaged $14.1bn per year
2020-2022 averaged $9.6bn per year.
They lost $21bn in 2020. If they make the same again ($40bn) in 2023 they’ll only just be above their 10 year average. Obviously these are global earnings so there is a moral question when it comes to windfall taxes around why should the UK benefit whereas others (who have also contributed to these profits) don’t.
Those windfall taxes are used to pay for the energy price guarantee.Shell profits:
2014-2019 averaged $14.1bn per year
2020-2022 averaged $9.6bn per year.
They lost $21bn in 2020. If they make the same again ($40bn) in 2023 they’ll only just be above their 10 year average. Obviously these are global earnings so there is a moral question when it comes to windfall taxes around why should the UK benefit whereas others (who have also contributed to these profits) don’t.
Shell pays its taxes in the country in which profits are earned, so British people are benefitting only from Shell’s UK profits.
Google “ Shell profit by country” and you should find a table of their income and taxes paid worldwide.
Nellies left peg
Well-Known Member
- Joined
- 3 Dec 2017
- Messages
- 9,783
Our local no has had a revamp, it’s a Morrisons daily and it includes a greggs and costa nowI’ve recently noticed that some of the shell forecourts are being re vamped. And to add to that they are offering an in store Waitrose. How much money do they think we’ve all got?
You cannot draw the inference that this is obscene by just looking at the bare profit numbers. You have to look at other factors such as ROCE, where and how these profits are made etc. It makes a good newspaper headline, but not much sense. When you have looked deeper you may of course still draw the inference that the profits are obscene, but not from just the headline figure.Even the most ardent adherent to free market Friedmanomics must concede that this is absolutely obscene.
No company should be tripling their already multi-billion dollar profits off the back of an illegal bloody war and by robbing the pockets of the poor.
I am very much pro-capitalism, I believe it an imperfect system but by far the best system we have in this world, but this is nothing more than disgusting greed and profiteering.
The energy and utilities sector has been long overdue for proper regulation. But such is their enormous lobbying power no politician will touch it, besides the cranks on the far left who have no realistic hope of getting in power to action change in the first place.
Incidently, Shell’s biggest single earner in the period was refining and trading of LNG as countries sought to switch out of Russian gas.
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stonerblue
Well-Known Member
ThatThe super wealthy are destroying us . Heating bills trebled for us minions whilst they rake in the latest obscene profits , Shells highest in 115 years just WTF ????
stonerblue
Well-Known Member
Great..When they went below a tenner in March 2020 they were a good buy.
They make a lot of money processing oil for other companies too.
At least it helps people's pensions, and a lot of small investors.