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Biden says Shell is misusing its profits by not cutting gas prices

Commodities Oct 27, 2022 05:06PM ET
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2/2 © Reuters. U.S. President Joe Biden arrives at Hancock Field Air National Guard Base in Mattydale, New York, U.S., October 27, 2022. REUTERS/Evelyn Hockstein 2/2
 
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SYRACUSE, N.Y. (Reuters) - U.S. President Joe Biden blasted Shell (LON:RDSa) plc on Thursday for funneling profits to shareholders rather than lowering gas prices, after the British oil giant said it would boost its dividend and buy back shares.

Shell earlier on Thursday said its third-quarter profit was a near-record $9.45 billion, as it sharply boosted its dividend by 15% and announced plans to buy $4 billion more of stock over the next three months.

Biden says Shell is misusing its profits by not cutting gas prices
 

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Comments (9)
Andrew Ulferts
Andrew Ulferts Oct 28, 2022 9:06AM ET
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I’ll create a crisis, and spend your money to “fix” it.
gab nea
gab nea Oct 28, 2022 7:17AM ET
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what would jesus say about Republicans helping the rich and starving the poor? they want to sunset your medicare and social security! they love evil russia over democratic ukraine? they lost it! vote them out, save America!
gab nea
gab nea Oct 28, 2022 7:15AM ET
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how the Republicans like putin the devil brutally annihilating innocent civilians over free democratic ukraine defending itself? have they lost their minds? and they help the rich ,starve the poor! what would jesus say? evangenitals?
gab nea
gab nea Oct 28, 2022 7:11AM ET
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I wish the Republicans would stop trying to ruin america! if you like tyranny and a leader who fixes elections like the ex traitor tried, then you should go back to the country you came from! you are truly not american, and certainly not native!
Connecticut Yankee
A_Jaundiced_Eye Oct 27, 2022 5:28PM ET
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"Having finished attacking American companies, President Biden began attacking companies of America's allies. 'I'm going after whoever comes up on my teleprompter!'"
Casador Del Oso
Casador Del Oso Oct 27, 2022 5:26PM ET
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Giving away free money isn't too popular with shareholders.
Shah King
Shah King Oct 27, 2022 5:24PM ET
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funny
EL LA
EL LA Oct 27, 2022 5:17PM ET
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That's not how this works, Joe.
Andrew Allen
Andrew Allen Oct 27, 2022 5:11PM ET
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I mean, his son worked for an oil and gas company. I'm sure Joe knows what he's talking about
 
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