Shell Oil sets European, U.K. annual corporate profit record: $27.6 billion
Royal Dutch Shell made $27.6 billion in 2007, a European and U.K. annual corporate profit record. Sound familiar? It should. Exxon Mobil was breaking records a year ago when they reported $39.5 billion profit. Everything is not great at Shell because profits for the last few months were actually a little less than expected.
It all has to do with margins. You see, Shell is not discovering as much or refining as much oil as they did even just one year ago. Feel sorry for them? Me neither. Gas prices will probably hit $3.50 a gallon before June. Who knows where it might go after that?
So, you better go green or your green will go.
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[Source: Telegraph, Herald]
Reader Comments (Page 1 of 1)
James Bowe 1:32PM (2/01/2008)
Exxon broke their previous record with $40.6 billion in profit in 2007. Thank god congress stripped those extra oil-industry taxes from the final CAFE bill, or Exxon may not have posted another world record year....
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drivin98 6:29PM (2/01/2008)
"Who knows where it might go after that?"
I do. Wait for it...........................
Up!
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