Oil Giant Shell Boasts Record $9.84 Billion Profit Amid Global Energy Crisis. As the global energy crisis continues to grip the world, European oil and gas giant Shell has reported a staggering $9.84 billion profit in the second quarter of the year, more than doubling its earnings compared to the same period last year. The sharp rise in oil and gas prices, triggered by ongoing conflicts in the Middle East, has been a major contributor to the company's windfall profits. However, environmental groups are now renewing calls for a windfall tax to be imposed on energy companies like Shell, arguing that the profits should be shared with households struggling to cope with soaring energy bills. As the debate over corporate profits and public burden continues, Shell's record-breaking earnings serve as a stark reminder of the widening wealth gap between energy companies and ordinary households.
Environmental groups renew calls for windfall tax to support households following Q2 earnings rise to $9.84bn Shell more than doubled its profit in its second quarter of the year, as Europe’s biggest oil and gas company reaped the benefits from the jump in oil and gas prices triggered by war in the Middle East.The FTSE 100 company’s net profit hit $9.84bn (£7.4bn) in the three months ended in June, more than double compared with the same period last year. Continue reading...
