London-based Shell Plc posted adjusted earnings of $39.9 billion for 2022 in its financial results for the final three months of the year. Adjusted earnings in the fourth quarter, which exclude one-time items and fluctuations in the value of inventories, rose to $9.8 billion.
Shell is the latest oil company to report bumper profits, even as the fossil fuel industry faces increasing pressure to cut climate-changing carbon emissions.days earlier, while U.K. rival BP and France’s TotalEnergies posted huge quarterly profits last year. The results demonstrate Shell's “capacity to deliver vital energy to our customers in a volatile world," new CEO Wael Sawan said in a statement.at the start of the year, replacing Ben van Beurden, who stepped down after nine years. Sawan also has reorganized the company’s core business units.
Sawan, who has worked for Shell for 25 years, was previously director of its integrated gas, renewables and energy solutions business.
Big Oil and big profits will eventually hurt your future. Americans are finding ways and will continually find ways to circumvent these gouging greedy people. All will eventually level out. We will have the last laugh when no body is utilizing fossil fuels like we do anymore.
That’s really great for them. 😑
But sure, President Biden is to blame for high gas prices…
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Source: CNBC - 🏆 12. / 72 Read more »