Originally published at: Shell reports $9.5 billion profit in 2022 3rd quarter. Last year it made $4.1 billion in the same quarter | Boing Boing
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Looks like some people will ride out the climate emergency they helped to create just fine.
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Are they somehow for direct government control of business and regulated price controls now? I get that they don’t actually have a platform, but that seems rather far from the original Republican party platform of the past.
If only I could get my parents to see this instead of nostalgia for something that doesn’t exist.
Everyone with even basic high school economics should know there’s only two ways to reduce the price of gas. Increase supply or decrease demand.
Oil companies aren’t going to increase supply. The capital investment in new refining is to large and the payback so long that it wouldn’t happen before demand drops for other reasons. In the short term, they’ll make more money not investing too. High prices are great for them.
That means decreasing demand. Either through alternatives faster, or other economic conditions that eliminate demand. Pay no attention to the other impacts of economic conditions that lower gas demand.
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Well, they have us over a barrel.
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British multinational, Shell, didn’t pay any windfall tax in the UK.
In fact, it got a tax rebate of £100 million from the government.
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But the problem surely couldn’t be good old fashioned greed, could it?
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Yes, but only when the president is Democratic.
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bbc reported that they already pay sixty per cent tax…
and
Really? SHell?? Because the ITV article mspie500 linked to above says:
The fact that Shell has not paid any tax on its UK income since 2017 also sticks in the throat of some.
Indeed, this BBC article agrees:
In recent years, such methods have meant that BP and Shell, for example, have paid almost no tax in the UK.
Shell also paid a negative amount of tax in 2021, taking its total since 2015 to -£685m of tax in the UK.
And I feel physically sick.
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tried to find the news item… whatever…
if they were to pay 80 per cent tax… it would mean that
they would have to seriously think about how to re-invest…
(they are promising to invest 20billion sterling in the coming
years in re-newables)
Amazing.
Makes me want to see a list of what Dems stood for then.
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Sounds like most of that was cribbed from the 1956 Dem platform. The biggest differences seemed to be Republicans wanted to reduce taxes for the wealthy and corporations while Democrats were desperate to maintain the status quo on segregation to avoid a schism between Dixiecrats and progressives.
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