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Shell’s true colors are as plain as the crude oil they relentlessly extract from the Earth

Shell Considers Dabbling in Green Energy Just to Keep Activist Investors Quiet

Posted by John Donovan July 15, 2023

In a surprising turn of events, the ruthless oil giant Shell is reportedly exploring the possibility of selling a stake in its green energy business. Yes, you read that right – the company notorious for its relentless pursuit of oil and gas profits is considering dipping its toes into the world of renewables. But don’t get too excited, this move is likely just an attempt to appease activist investors who have been pestering Shell for years.

According to insiders, Shell has approached third parties to gauge interest in offloading part of its global renewable power operations. They may even go as far as establishing the renewables arm as a separate business, a clever ploy to create the illusion of commitment to green energy while maintaining their true focus on fossil fuels. It’s all about optics, you know.

This potential spinoff of Shell’s green power assets is a long-awaited dream come true for activist investors who have been pushing the company to prioritize renewables. They argue that these fast-growing units have been held back by Shell’s legacy divisions, and a separate business could unlock their full potential. But let’s not kid ourselves – this move is more about boosting Shell’s stock market valuation than saving the planet.

Shell’s new CEO, Wael Sawan, has wasted no time in redirecting the company’s investments towards its cash cow – good old oil and gas. He’s been relentless in his pursuit of maximizing returns, even if it means scaling back on the green energy commitments of his predecessors. And why not? After all, oil and gas assets offer double the returns of renewables like solar and wind. Who needs clean energy when there are profits to be made?

Of course, Shell insists that their plan to reach “net zero” carbon emissions by 2050 is still intact. They just conveniently forgot to provide any detailed proposals on how they plan to achieve this ambitious goal. But hey, as long as they sell a stake in their green energy business and make some vague statements about using “green electrons” to enable low-carbon energy solutions, all is forgiven, right?

This potential move by Shell to divest from renewables is just another example of its strategic manoeuvring to maintain its grip on the fossil fuel industry. It’s a classic case of greenwashing, attempting to appear environmentally conscious while prioritising profits over the planet’s well-being. So let’s not be fooled by this latest ploy – Shell’s true colours are as plain as the crude oil they relentlessly extract from the Earth.

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