Not everyone is penny pinching at the gas pump these days — oil titans Shell and Paris-based TotalEnergies both reported record quarterly profits on Thursday, more than doubling their earnings from a year priorTotalEnergies shared a profit of $9.9 billion on Thursday while Shell announced adjusted earnings of $9.45 billion, a couple billion shy of their $11.
5 billion earnings last quarterThe energy giants are benefitting from high petrol prices and a gas squeeze in Eastern Europe, where Russia’s invasion of Ukraine has all but halted the continent’s primary fuel linesShell, meanwhile, has yet to pay the U.K.
Shell has reported profits of $9.5B for Q3 2022 compared to $4.1B for Q3 2021. WHY? Inflation Recession Decoupling Sanctions SupplyChainBroken EnergieCrisis DollarHegemony ✔️100% corporate greed 🇺🇸