Shell ‘Doubled Down on Oil’ in 2023 as Planet Burned: Analysis : The company paid nine times more to shareholders than it invested in “Renewables and Energy Solutions.”
by newnemo
Shell ‘Doubled Down on Oil’ in 2023 as Planet Burned: Analysis : The company paid nine times more to shareholders than it invested in “Renewables and Energy Solutions.”
by newnemo
3 comments
Along with the rest of the world, their children will suffer the consequences, these sociopaths don’t care. It’s a disease that needs a cure.
^
>The analysis comes as Shell announced its total profits both for the fourth quarter of 2023 and for the entirety of the year. The company took home $28.25 billion in adjusted earnings and paid out $23 billion to shareholders. It also raised dividends by 4%.
>”Shell chooses shareholders over climate, once again,” Sjoukje van Oosterhout, the head researcher for Climate Case Shell at Friends of the Earth Netherlands, said in a statement. “In the last year, $23 billion went to shareholders, and Shell is now adding to that by increasing the dividend by 4%. Without considering the cost to the climate and human lives.”
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>Global Witness calculated that the amount Shell paid to shareholders last year would be almost enough to pay off the average 2023 gas and electric bills for all Florida households. Greenpeace U.K. pointed out on social media that the average British worker would need to work for 640,000 years to match Shell’s 2023 profits.
>2023 was also the hottest year on record, and likely the hottest in 100,000 years, mostly due to climate change from the burning of fossil fuels.
>”They are burning our planet and laughing all the way to the bank,” Greenpeace U.K. said on social media. “How on Earth is this fair?”
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Honestly I don’t understand this. Like from an economic perspective you have a chance to become a dominate force in a new, booming, tech, and you’re instead trying to make sure it doesn’t pass current methods. Companies that are stuck in the past and don’t adapt are more likely to collapse.
But their ads on LinkedIn say they are rapidly deploying “clean” energy! Not now, but at an undisclosed time in the future. They also block comments so all we have is the catchy greenwashing ad to go off of. So yeah, this totally checks out.