Shell profit doubles to record as war drives up energy costs

Sawan, who has worked for Shell for 25 years, was previously director of its integrated gas, renewables and energy solutions business.

Russia’s war in Ukraine sent global energy prices surging, with natural gas prices in Europe hitting record levels last summer and oil hovering at $120 per barrel. They have since come down, but natural gas prices are still three times what they were before Russia massed troops on the Ukrainian border.

What is wrong w the world

Stop calling it 'inflation' it's Price Gouging, Profiteering & Capitalist Greed - New & Used Left Wing & Progressive Books & Memorabilia /

No. If the war were the reason for gas price increases, profits would have remained about the same as previous years. Even if there were a scarcity, prices should rise only enough to make up the difference in supply, and a decrease in profits would be expected.

Prices are based on futures, figure it out

If their costs went up, there profits would go down, not up. This is BS.

What a coincidence! My spending on gas last year doubled to a record high.

Fucking greed!!

If they had higher costs their profits wouldn’t have doubled

Unhinged Capitalism got us all by the balls

They realised that they can rip off everyone and no one will do anything about it.

'Profits double as thing drives up costs' is not how any of those words work. Do better.

But the sticker at the gas pump said it was Biden who did that

Correction: as they price gouged for no reason.

Surprise

But yeah, blame Biden for the gas prices… 🙄

All the high gas prices were because they were price gouging us, in other words

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Shell profit doubles to record as war drives up energy costsGlobal energy giant Shell said Thursday that its annual profits doubled to a record high last year as oil and natural gas prices soared after Russia's invasion of Ukraine. But sure, President Biden is to blame for high gas prices… That’s really great for them. 😑 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.
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