Shell and their 2022 profits just announced

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goingnowhere

Member
SmallTown said:
1. Any chance you can translate that one into english
2. Yeah, it's the victims of this extreme theft, it's the people who can't afford to heat their houses that are to blame. How silly of me to think otherwise.
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1. IF you cannot read it maybe you should return to do some O-Levels, GCE's, GCSE's or whatever they have made up these days.
2. It's not blaming, you say people CHOOSE to buy from Amazon but NEED energy companies. I say SOME people CHOOSE to buy from Amazon over paying energy bills because they believe it be their right and then feel victimised when supply is cut off.

People target energy companies as they like to be called these days as oil is a dirty word but they do not set the prices. OPEC set the prices which is basically the Middle East. They produce far great quantities than most nations and you just have to look at the profits of Saudi Armco who made something like $172bn profit last year.
Gas and Oil is sold on demand just as all other commodities and if the lack of Gas pushes the price up then they get the blame for what some accuse of "holding back supplies". No company is holding back in the UK or Europe except possibly Norway because they need the gas and at the prices it has been over the last year would be stupid to be holding it back.

Everyone is targeting the oil and gas companies because the Media want you too. It's all just a big game for the likes of Stalmer to push his campaign. Do you think he would be doing anything different to these companies or as many think already just tax the seen as RICH who are higher tax payers.
Soutra said:
Shell is a British company, HQ in London, so will pay Corporation Tax, and windfall taxes in the UK on its worldwide profits.
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Oh is that so, well what are we all having a discussion about then Shell will be paying their UK taxes happy days 🤡
 
SmallTown

SmallTown

Well-known member
1. Your first post probably only made sense in your own head. Given you can't explain it I guess I can ignore it as in illiterate rant
2. So, you're blaming the victims then. Righto. Classy
 
E

exiledinboro

Well-known member
The problem is the government is still borrowing billions to pay everyone in the UK towards their energy costs. At least £5 billion last month 🤷🏻‍♂️
 
G

goingnowhere

Member
SmallTown said:
1. Your first post probably only made sense in your own head. Given you can't explain it I guess I can ignore it as in illiterate rant
2. So, you're blaming the victims then. Righto. Classy
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we are all victims as you put it to energy company high prices expect some CHOOSE to put it before luxuries. Take it how you want in terms of blaming victims but myself, yourself and everyone else is a victim of high energy prices and we all act in a way we want with the responsibilities we have. IF it fits your agenda then carry on and feel that way but I know myself and many I know act responsibly and put things in an order they need to be for survival.
 
G

goingnowhere

Member
exiledinboro said:
The problem is the government is still borrowing billions to pay everyone in the UK towards their energy costs. At least £5 billion last month 🤷🏻‍♂️
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It's great they are helping but it should have been optional. I know myself would have opted out as I don't need it but know many do.
 
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exiledinboro

Well-known member
goingnowhere said:
It's great they are helping but it should have been optional. I know myself would have opted out as I don't need it but know many do.
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My point was it’s not capitalism if like the banking crisis the government bails out private companies or has to borrow billions once again to protect private corporations or protect profits
 
Redwurzel

Redwurzel

Well-known member
Apologies if it read as though the Nigerian government receives $10 per barrel royalty. I put it in as an example. I don't know the true royalty figure, but there will be one which is cost to Shell and other oil companies.

Ref Amazon has been criticised on here by me, for paying low taxes in the UK. Their business rates have been tiny in comparison with high street shops. They are registered in the Luxembourg as they did a special deal with that kingpin government of Europe, so profits generated in the EU could be filtered through Luxembourg to reduce corporation tax. Amazon has not profiteered from Ukraine war, but the profiteeered through Covid and the invention of the Smart phone and will do for many years to come..
 
SmallTown

SmallTown

Well-known member
goingnowhere said:
we are all victims as you put it to energy company high prices expect some CHOOSE to put it before luxuries. Take it how you want in terms of blaming victims but myself, yourself and everyone else is a victim of high energy prices and we all act in a way we want with the responsibilities we have. IF it fits your agenda then carry on and feel that way but I know myself and many I know act responsibly and put things in an order they need to be for survival.
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But it's the people with the flat screen TVs to blame yeah? Not the profit before people energy companies? That's the line you seem to be taking?
 
S

Soutra

Well-known member
Redwurzel said:
Apologies if it read as though the Nigerian government receives $10 per barrel royalty. I put it in as an example. I don't know the true royalty figure, but there will be one which is cost to Shell and other oil companies.

Ref Amazon has been criticised on here by me, for paying low taxes in the UK. Their business rates have been tiny in comparison with high street shops. They are registered in the Luxembourg as they did a special deal with that kingpin government of Europe, so profits generated in the EU could be filtered through Luxembourg to reduce corporation tax. Amazon has not profiteered from Ukraine war, but the profiteeered through Covid and the invention of the Smart phone and will do for many years to come..
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Amazon isn't a good example though. It lost money for years and years, then just about broke even. There were two years of profit boosts due to Covid, but now it's just about breaking even again. There has been a lot of infrastructure building in Europe, so whatever profits would have been made were reduced by that.

Microsoft and Apple generate lots of profit but realise most of it in the US through clever transfer pricing. Companies like that should pay tax based on their revenues in particular countries rather than engineer break even in most countries and take all the profit where corporation tax is lowest, like in Wyoming or South Dakota.
 
G

goingnowhere

Member
Redwurzel said:
Apologies if it read as though the Nigerian government receives $10 per barrel royalty. I put it in as an example. I don't know the true royalty figure, but there will be one which is cost to Shell and other oil companies.

Ref Amazon has been criticised on here by me, for paying low taxes in the UK. Their business rates have been tiny in comparison with high street shops. They are registered in the Luxembourg as they did a special deal with that kingpin government of Europe, so profits generated in the EU could be filtered through Luxembourg to reduce corporation tax. Amazon has not profiteered from Ukraine war, but the profiteeered through Covid and the invention of the Smart phone and will do for many years to come..
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I gathered you didn’t know the exact figures per barrel.
My point is more that the oil companies pay royalties to the country they get the oil from. The oil they pull from the countries land or sea and they should be receiving the tax from that oil. Why should a company pay tax on the money they make twice? Would you be happy paying tax twice on your earnings?

As for profiteering from the Ukraine war the gas price was high around 35p a therm in 2020, then by December 2021 was 270p which was before the war started in February 2022. Oil prices increase a bit during the war but again it is due to the Middle East dictating prices by adjusting their production. Also take a look and over the last 12 months the average price has been around $90/barrel which is only $15/barrel more than the average price the year before when covid was still limiting travel and oil production was lower. It’s a simple supply and demand issue not a company issue. Most of these companies also had to walk away from assets in Russia worth billions. Take a look at OPEC who control world oil prices and the the countries involved in it mainly Middle Eastern countries. Blaming the oil and gas companies for ripping everyone off is like blaming BASF for producing the gas the Nazis used to kill the Jews in the gas chambers.

Also Amazon and other online retailers profiteering from Covid and killing the high street and costing jobs is tragic so I hope Amazon does struggle but I’m sure Jeff Bezos won’t give a monkeys as I’m sure he’s made billions every year despite Amazon not making profits.
 
SmallTown

SmallTown

Well-known member
It's obscene isn't it? I would petrol bomb their head offices in protest. However I'm against the burning of petrol.
 
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