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Shell profits at Ireland's expense

mayo | environment | press release

Wednesday October 29, 2008 19:45

by Shell to Sea

Report this post to the editors

Shell are tomorrow expected to announce profits of €5.5 billion for the third quarter of the year, representing a 12% increase on profits from this time last year. This means that while people are paying record prices for their fuel, Shell were racking up record profits of around €60 million every day. Recently Bord Gáis applied to increase gas prices by up to 8% which follows a 20% increase which took effect this September.

Commenting on the Shell profits, Shell to Sea spokesperson Maura Harrington stated "Because of the obscene giveaway gas deal even if Corrib Gas came on stream tomorrow it would not affect the price we pay for our gas, we would buy it back at full market value from Shell. Indeed all the extra delays and costs will be paid for by the Irish taxpayer under the current oil and gas terms."

Maura Harrington continued "Once again this illustrates how the Government have put the interests of Big Oil before the vulnerable and elderly in our society. Many elderly people will be facing fuel poverty this year. The government recently tried to save €100 million from the medical cards of the elderly; they could get €100 billion from the oil companies if they had the guts to challenge them in the same manner"

***************************************

See what the Commission for Energy Regulation (CER) said about Corrib Gas here: http://www.irishtimes.com/newspaper/ireland/2008/1001/1....html

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Comments (2 of 2)

#	Title	Author	Date
1	Oil Company Profiteering Fuels Inflation	Malachy Steenson	Fri Oct 31, 2008 10:26
2	enough, already	cable	Sat Nov 01, 2008 19:17

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