Shell make biggest profit by British company

Discussion in 'Current Events' started by scotthayes, Jan 30, 2008.

  1. scotthayes macrumors 68000

    scotthayes

    Joined:
    Jun 6, 2007
    Location:
    Birmingham, England
    #1
    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.
     
  2. edesignuk Moderator emeritus

    edesignuk

    Joined:
    Mar 25, 2002
    Location:
    London, England
    #2
    Was going to post about this, but the search actually work and I found your thread first :p

    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 :rolleyes: :(
     
  3. scotthayes thread starter macrumors 68000

    scotthayes

    Joined:
    Jun 6, 2007
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    Birmingham, England
    #3
    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***
     
  4. eRondeau macrumors 6502a

    eRondeau

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    #4
    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." :apple:
     
  5. scotthayes thread starter macrumors 68000

    scotthayes

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    #5
    £13.9 billion profit or around $27.6 billion
     
  6. Abstract macrumors Penryn

    Abstract

    Joined:
    Dec 27, 2002
    Location:
    Location Location Location
    #6
    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.
     
  7. satty macrumors 6502

    Joined:
    Mar 1, 2004
    Location:
    You can't beat Wellington on a good day
    #7
    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.
     
  8. xUKHCx Administrator emeritus

    xUKHCx

    Joined:
    Jan 15, 2006
    Location:
    The Kop
    #8
    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.
     
  9. Markleshark macrumors 603

    Markleshark

    Joined:
    Aug 15, 2006
    Location:
    Carlisle, Up Norf!
    #9
    Fuel is cheap. In the UK, 72p+ (Per Litre) is Tax. If you put it into perspective, fuel is cheaper than water.
     
  10. Unspeaked macrumors 68020

    Unspeaked

    Joined:
    Dec 29, 2003
    Location:
    West Coast
    #10
    Exxon recently broke the same record, only in the US.

    I suppose it's good times to be an oil man...
     
  11. PlaceofDis macrumors Core

    Joined:
    Jan 6, 2004
    #11
    indeed makes you wonder.
    and it looks to go up pretty high again this summer.
     
  12. eRondeau macrumors 6502a

    eRondeau

    Joined:
    Mar 3, 2004
    Location:
    Canada's South Coast
    #12
    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. :apple:
     

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