Shell racks up record profit at £60m a day

Shell racks up record profit at £60m a day

business.timesonline.co.uk

Shell posted one of the biggest profits in history for a British company, revealing today that it made $31.4 billion (£22 billion) in 2008, up by 14 per cent on 2007.

The record profits — equivalent to £60 million a day — came as the oil giant admitted that it was being hit by the plunging crude oil price and weakening demand for oil and gas.

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Its nice to see that while we are paying to much for fuel at the pumps the oil producers continue to rake in massive amounts of money. Maybe this so called economic slump is just some profiteers pipe dream.

Why don't these companies share their wealth with their customers? Why does the Government not intervene and sort out companies making immoral amounts of money when people are loosing their homes and jobs.

business.timesonline.co.uk
(visit the link for the full news article)

reply to post by magicmushroom


It's not the oil companies per se that were responsible for the massive price hikes last year. It was speculators like Merril Lynch, which is the largest oil company in the world.

Exactly 100% correct.

[edit on 29-1-2009 by mazzroth]