Shell make biggest profit by British company

[scotthayes]

Shell have announced profit of over £13billion.

Now, if only they and Gordon Brown could each take 10p per litre off fuel then I could afford to use my car.

 

[edesignuk]

Was going to post about this, but the search actually work and I found your thread first

So yeah, as everyone gets screwed over further and further by oil prices they announce record profits. Well that's just spiffy, isn't it

 

[scotthayes]

Posted it as the chubby little chappy Declan off BBC news announced it.

I don't mind them making a profit, but all oil companies need to stop bitching that the cost of oil has gone and "they have no choice but to put up the cost of fuel"

and paying 66p in tax for every litre is taking the p***

 

[eRondeau]

The problem is, next year they'll have to do considerably better, or the C.E.O. will be regarded as a failure and he'll get fired. It is an endless cycle that is senseless and counter-productive in the long run. At what point does a corporation like this stand back and say "You know, maybe $13 Billion is enough."

 

[scotthayes]

The problem is, next year they'll have to do considerably better, or the C.E.O. will be regarded as a failure and he'll get fired. It is an endless cycle that is senseless and counter-productive in the long run. At what point does a corporation like this stand back and say "You know, maybe $13 Billion is enough."

£13.9 billion profit or around $27.6 billion

 

[Abstract]

Ok, I misread it the first time as well.


Maybe the wholesale cost of petrol really hasn't risen over the past 3 years. Maybe they just wanted to make more money.

I guess the joke is really on us then.

 

[satty]

What's the problem? It's a free market, that is what our leaders want us to believe is best. So if you think it's too expensive or the company too greedy, just don't buy their products anymore.

And if you made your lifestyle totally dependent on (cheap) oil, who can you blame apart from yourself?

I find oil incredible: High energetic, still very cheap, hugh volume available (at the moment 86 million barrels a day and we use all of it in a day as well)... certainly there will be major problems to find a suitable substitute.

 

[xUKHCx]

The major cost of petrol is the (double) tax that is slapped on it. What do you consider to be enough profit, for example apple makes approximately £3 Billion profit.

 

[Markleshark]

Fuel is cheap. In the UK, 72p+ (Per Litre) is Tax. If you put it into perspective, fuel is cheaper than water.

 

[Unspeaked]

Exxon recently broke the same record, only in the US.

I suppose it's good times to be an oil man...

 

[PlaceofDis]

Ok, I misread it the first time as well.


Maybe the wholesale cost of petrol really hasn't risen over the past 3 years. Maybe they just wanted to make more money.

I guess the joke is really on us then.

indeed makes you wonder.
and it looks to go up pretty high again this summer.

 

[eRondeau]

The major cost of petrol is the (double) tax that is slapped on it. What do you consider to be enough profit, for example apple makes approximately £3 Billion profit.

I have absolutely no problem with corporations making profits. My problem is with their corporate philosophies that require them to make exponentially greater profit every year or they're considered to be failing. Money men actually track the rate-of-increase of the rate-of-increase of profits. So even a steadily increasing profit for Exxon isn't good enough anymore, it has to increase more and more every year. That's why a weekend gas price spike at the corner gas station used to be 5 cents/litre, then 10 cents/litre, then it jumped to 25 cents/litre, and now they're predicting 50 cent/litre spikes this summer. Pretty soon gas will cost twice as much on Friday as it did on Thursday. It is unsustainable economics.

Sure, gas may still be cheaper than bottled water. But at least you've got a pretty good idea what that litre of water is going to cost next week.