How Long Would It Take You...

dublin | anti-capitalism | feature

Saturday February 03, 2007 20:56

by Dublin Shell to Sea - Shell chun Sáile

your yearly earnings divided by €20,000,000,000 equals, what?

So why doesn't Shell have a big banner outside their office announcing that they are making record profits? Why don't they issue a press release saying that they are doing better than ever, and things are improving for their shareholders like never before? Why aren't they celebrating?

Shell Oil made €20,000,000,000 in 2006

On February 1st, Shell to Sea protesters in Dublin drew attention to just how much Shell are making by asking passers-by to calculate how long it would take for them to earn what Shell made last year.

Shell's profits don't include the amount of oil and gas reserves they own, or the huge amount of equipment and buildings they are leasing or that they own. This is money that they have after they have paid all the bills (although not the security costs at Bellanaboy- the taxpayer pays that), and everyone's salary. This is pure profit for their shareholders.

This year's figure - €20,000,000,000 - is deceptive because it hides the fact that the dollar is weak at the moment, and energy has to be traded in dollars (Saddam Hussein started to sell oil in euros a few years ago, and look what happened to him). Profits are way up this year.

The company never had it so good.