Shell profits double

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From AMERICAblog:

Shell profits doubled in 2010

by Chris in Paris on 2/04/2011 12:59:00 AM

And we give Big Oil tax breaks because…why? They look like they’re doing fine so maybe it’s time they operate without government welfare. If Washington is obsessed with giving away handouts, maybe they should give the tax breaks to another industry that actually needs help growing. BBC News:

“The oil giant Shell has reported profits almost doubled from $9.8bn to $18.6bn (£11.5bn) for 2010 thanks to rising oil prices and production.

Its chief executive, Peter Voser, said the company had made good progress and that there was “still more to come”.

During the year, the company made $7bn of acquisitions and invested $3bn in exploration.

For the final quarter Shell made profits of $5.7bn, compared with $1.2bn for the same period in 2009.”

In a huge triumph for the U.S. Arctic today, Royal Dutch Shell chief executive Peter Voser announced that Shell’s 2011 plans to drill exploratory wells offshore in Alaska are canceled due to continued uncertainty over whether it would receive federal permits: here.

Unilever profits up strongly despite weak confidence: here.

Wall Street pay ‘shifting back to where they were before’: here.

Sierra Club to Join U.S. Suit vs. BP: here.