Posted by John Donovan: 10 Nov 2024
Shell, the darling of the so-called “energy transition,” has done it again. In a remarkable twist, the company managed to lose its European Fortune 500 crown to Volkswagen—a feat considering Shell’s ruthless, profit-hungry operations that are so very committed to the world’s “low-carbon” future. After a windfall in 2022 thanks to the Ukraine crisis (and by windfall, we mean billions rolled in), Shell’s revenues dipped a bit in 2023. But no one could say they didn’t give their beloved shareholders something to cheer about: a cool $28 billion in profits and a 20% bump in dividends. Bravo, Shell! It’s truly a testament to, well, unyielding ambition.