Shell and BP: Drowning in Billions While the Planet Burns

Ah, the fossil fuel industry—where record-breaking heatwaves, climate disasters, and widespread energy poverty are just background noise to another year of grotesque profits. Shell and BP have once again proven that they are masters of cashing in on planetary destruction, raking in a staggering £26.2 billion in profits in 2024—more than doublewhat the UK has committed to international climate finance over five years. Yes, you read that right: these two planetary arsonists made more in one year than the UK plans to spend on fixing their mess over half a decade.

“Oh No, Our Profits Are Down” – Said No One With £26.2 Billion

Sure, BP had the audacity to announce that their profits “slumped” by 36% last year, with Shell also whining about lower margins due to weaker oil prices and (gasp!) lower demand. But let’s be clear—even their worst year is still a jackpot for investors like BlackRock and Vanguard, who continue to rake in dividends from climate destructionwhile the rest of us foot the bill.

BP’s so-called struggles include reporting to the FTSE 100 that its replacement cost profits—a fancy way of saying “how much cash we made after tweaking the numbers”—fell from $13.84 billion (£11.21bn) in 2023 to $8.92 billion (£7.22bn) in 2024. And poor Shell? Fourth-quarter earnings dropped 61% year-on-year, leaving them with a measly$1.17 billion (£947 million)—their weakest result since 2020. How will they ever survive? (Oh right, by continuing to exploit the planet and dodge their fair share of taxes).

“Windfall” for Them, Misery for Everyone Else

Meanwhile, Mark Ruskell MSP of the Scottish Greens is here to remind us of the glaringly obvious:

“Households and families across our country are suffering from eye-watering bills and a broken energy market, while BP and other fossil fuel giants are reporting astronomical profits.”

Imagine that—families struggling to heat their homes while these oil barons laugh all the way to the bank. Ruskell also pointed out how our fossil fuel dependence is systematically draining household budgets and supercharging the climate crisis, while these companies refuse to invest in renewables.

“Yet, at the same time, as these companies have been raking in obscene profits, they have squandered the opportunity to invest in renewables. They have stuck to a broken system that is harmful for people and planet.”

Let’s be real—BP and Shell will never voluntarily pivot to clean energy because that would require cutting into their CEO bonuses and not handing over billions to their already bloated shareholders. The only thing they will ever invest in is PR campaigns about their so-called “net-zero” commitments while continuing to do exactly what they’ve always done—drill, extract, pollute, and profit.

Tax the Polluters, Not the People

Ruskell calls for Labour to finally close the gaping loopholes in the windfall tax, forcing these climate-wrecking parasites to pay their fair share. And yet, governments continue to bend over backwards for Big Oil, refusing to properly tax their windfall gains, all while working people are told to “tighten their belts.”

So here we are: BP and Shell bathing in billions, BlackRock and Vanguard stuffing their coffers, and the rest of us left to deal with rising bills, climate chaos, and a political system too spineless to take them on.

The real question isn’t why BP and Shell continue to destroy the planet for profit—it’s why we’re still letting them get away with it.

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.