19 Oct 2024
Oh no! Poor Shell. The oil behemoth that never seems to stop polluting is now facing—wait for it—a drop in refining margins. Yes, you heard that right, the same company that has practically printed money from destroying the planet is now crying over a 30% profit drop in the third quarter. Let’s all shed a tear, shall we?
Shell’s latest pity party involves their refining margins dropping from $7.7 per barrel to a mere $5.5. Gasp! How ever will they survive? The demand for refined products is down because—get this—global economic activity is slowing. Apparently, even endless pollution and profits can’t outrun a little thing like competition and an oversupplied market. Refineries are popping up everywhere, which is really putting a damper on Shell’s ability to squeeze every last penny from its fossil-fueled empire.
And while Shell’s profits are expected to tank (well, relatively speaking) when they announce their results on October 31, don’t worry—some of their biggest cheerleaders, like BlackRock and Vanguard, are still backing them up. After all, who cares about a livable planet when you can make a killing investing in climate apocalypse?
As for Shell’s LNG business? Well, they’ve pumped out even more of that precious liquefied natural gas, raising production guidance to a tidy 7.3-7.4 million tons. But even with all that extra output, trading results are expected to remain flat. Poor dears. It’s almost as if you can’t win at every game of environmental destruction.
Greenpeace, of course, would have a field day with this, probably saying something like, “Shell’s financial woes are nothing compared to the damage they’ve inflicted on the planet.” But hey, why listen to them when you can watch Shell and its investors pretend this is a tragedy? Meanwhile, they’re still laughing all the way to the bank.
So, what’s next for Shell? More sob stories about their profits? More pollution to keep the cash flowing? The world’s dying to know—literally.
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment.
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
