Royal Dutch Shell today said it would cut another 1,000 jobs this year after reporting a 69% slide in annual profits to $9.8bn (£6.1bn).
The Anglo-Dutch firm also reported a steep drop in fourth quarter earnings – down 75% to $1.18bn – after pressure on margins in refining offset a year-on-year increase in oil prices.
What horrors and of course we must subsidise the company.
Hmm, what\’s that?
Oh, well, it\’s just basic logic. When profits rose there were huge cries that there should be a windfall tax on the oil companies. They were profiting at our expense or something. Now that they\’re hurting exactly the same logic leads to the necessity for us to subsidise them.
So come along now Compass and all points lefty. Time to step up and prove you really do believe in the logic of what you say.