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Shell Profits Up 60 Percent

News Flash: Shell Posts $8.5 Billion Profit

Shell generated a profit of $8.5 billion in just three months. So if you were taking the birth control that lets you menstruate seasonally, Shell would have raked in that amount of money between your periods! Their earnings are up 60 percent from last quarter and the company's full-year $31.3 billion profit for 2007 set a record for a European company. Despite the huge numbers, Shell's CEO said that the results were "satisfactory" and Forbes points out "crippling costs and disappointing margins lay beneath the surface." They're producing less oil and if the slowing economy lowers oil prices the company's performance would slide. Unite, the UK's largest trade union, is asking consumers to question the excessive profits while emptying their pockets to fill their tanks.


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