The Daily Background

The oil corporation Shell made 20% more money this quarter than last quarter, even though they actually refined less oil:

Shell has produced a stunning financial performance over the second quarter of the year with profits soaring by 20% to $7.6bn (£3.7bn) on the back of very high refining margins and despite a fall in production.

The record results – amounting to some £1.5m an hour – underlined Shell’s current supremacy over arch-rival BP which barely lifted its profits when measured on the same basis.

One analyst said in reaction to the financial report, that Shell had found “the sweet spot.” They certainly did- less work for more money. £1.5 every hour- that’s equivilant to about $3 million. Disgusting.

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