Who Needs Basic Ethics When You’ve Got Oil Profits?
In yet another move that screams “cash first, planet last,” Shell—the notorious climate criminal and investor darling of BlackRock and Vanguard—is looking to offload its chemical assets in the U.S. and Europe. Why? Because chemicals, while useful, just don’t generate the same obscene, shareholder-pleasing profits as fossil fuels.
The ultimate sin stock has hired Morgan Stanley’s finest to help decide which assets get the boot. Among the first on the chopping block? The Deer Park facility in Texas, a site responsible for churning out light and heavy olefins—chemicals used in everything from pharmaceuticals to adhesives. Shell already sold its stake in the refinery next door, because obviously, refining crude is only fun when someone else takes the regulatory heat.
Ask Sheldon
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