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Obscene Profits

30 April 2008 One Comment

Article via TK:

Shell’s profit soars to record $9 billion
Story Highlights
Shell’s profit soars 25 percent in the first quarter thanks to crude oil prices

Company’s average selling price for crude leapt 66 percent to $90 a barrel

Sales up 55 percent as net profit climbs to $9.08 billion, impressing analysts
AMSTERDAM, Netherlands (AP) — Royal Dutch Shell’s has reported a 25 percent rise in first-quarter earnings, crediting strong increases in energy prices.

Europe’s largest oil company said Tuesday its average selling price of crude oil leaped by 66 percent to over $90 per barrel from the first quarter a year ago.

That sent net profit soaring to a record $9.08 billion. Sales were up 55 percent to $114 billion.

Chief Executive Jeroen van der Veer said in a statement the strong numbers were due to a “good operating performance, combined with increased oil and gas prices.”

Earnings from oil production rose 52 percent to $5.14 billion.

Analysts say the performance was impressive.

What can I say? The best industries to work in must be oil and gas, and banking and finance? I guess Shell’s employees may be pocketing minimum six months bonus this year. Oh, joy. Better to get a partake of what is screwed out of you, then to see the profits go straight to the corporation and government somewhere else, no?

Speaking of obscene, I think the current employer spends quite obscenely. Thousand dollar chairs, gourmet teas, coffees, cookies, chocolates, whatever for our “Bloomberg*” style pantry, lavish team lunches, dinners and drinks etc.

Obscene.

*The Bloomberg pantry is quite “famed” in the industry (some say, even outside the industry) to be styled in the manner of 7-Eleven. They are said to stock all manners of snacks, tidbits and drinks.

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One Comment »

  • Dua Pai Lang said:

    yes, i miss the pantry there. =(


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