Shell Scraps Plans to Cut Oil Production, Raises Payouts to Wealthy Shareholders

This comes after the oil giant tacitly admitted that limiting warming requires an “immediate end to fossil fuel growth.”

Shell announced Wednesday that it is raising payouts to wealthy shareholders and scrapping plans to cut oil production by up to 2% annually, a move that environmental groups said lays bare the futility of relying on fossil fuel corporations to voluntarily curb their climate-destroying activities. The London-based company, which more than doubled its annual profits last year, said in a press...

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This post was originally published on Latest – Truthout.


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Jake Johnson | radiofree.asia (2024-05-10T02:56:45+00:00) » Shell Scraps Plans to Cut Oil Production, Raises Payouts to Wealthy Shareholders. Retrieved from https://radiofree.asia/2023/06/14/shell-scraps-plans-to-cut-oil-production-raises-payouts-to-wealthy-shareholders/.
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" » Shell Scraps Plans to Cut Oil Production, Raises Payouts to Wealthy Shareholders." Jake Johnson | radiofree.asia - Wednesday June 14, 2023, https://radiofree.asia/2023/06/14/shell-scraps-plans-to-cut-oil-production-raises-payouts-to-wealthy-shareholders/
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» Shell Scraps Plans to Cut Oil Production, Raises Payouts to Wealthy Shareholders | Jake Johnson | radiofree.asia | https://radiofree.asia/2023/06/14/shell-scraps-plans-to-cut-oil-production-raises-payouts-to-wealthy-shareholders/ | 2024-05-10T02:56:45+00:00
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