Investors hoping for something even remotely resembling a conscience will be sorely disappointed.
Ah, Shell—the oil-soaked corporate darling of BlackRock, Vanguard, and State Street—has a thrilling new strategy: staying the course and raking in profits while the planet burns. According to RBC, Shell’s upcoming March 24 strategy update isn’t expected to bring any big surprises, because why change a thing when you’re already swimming in billions?
Shell’s grand master plan? More cost-cutting, fewer green investments, and an unwavering commitment to its liquefied natural gas (LNG) empire. Investors hoping for something even remotely resembling a conscience—perhaps divesting from its chemicals division—will be sorely disappointed. RBC thinks that’s unlikely in the short term. Translation: Shell will continue flooding the world with petrochemicals and plastic waste for the foreseeable future.
But let’s talk about the real priority here: slashing costs. Shell was aiming to “save” (read: squeeze out) $2-$3 billion, but guess what? They already hit that target. Now, they might go even further, eyeing up to $5 billion in cuts. Will this money go toward renewable energy, helping communities affected by fossil fuel disasters, or tackling climate change? Absolutely not. That cash is earmarked for “shareholder returns,” because Shell’s investors don’t just want profits—they want all the profits.
Speaking of which, Shell is generously lowering its annual capital spending to a modest $20-$23 billion. But don’t be fooled—very little of this is going toward green energy. Shell remains laser-focused on LNG, ensuring the world stays addicted to fossil fuels. Their flagship project, LNG Canada, is set to expand in line with global demand, making sure we remain shackled to carbon-intensive energy for decades to come.
As for its shareholders—rest easy. Shell’s dividend policy and share buyback program remain untouched. Because why invest in the future when you can just funnel billions back into the pockets of people who already have more money than they know what to do with? Could Shell afford to increase dividends? Of course. But why do that when they can just pump even more money into stock buybacks to artificially inflate share prices?
And what about oil and gas production beyond 2030? RBC points out that Shell may need to make some acquisitions to maintain production levels. Translation: Shell will keep gobbling up smaller companies and oil fields, ensuring their reign as one of the world’s most relentless polluters continues unchallenged.
So, what’s the big takeaway from Shell’s “bold” strategy? More of the same—because when you’re making billions poisoning the planet, why on Earth would you stop?
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