UK Affiliate Terms Shell's Profits 'Obscene'

Transport and General Workers’ Union (T&G) of the UK termed Royal Dutch/Shell’s profits announcement as “obscene.” Shell made history last week by reporting the largest annual profit ever posted by a British company—£9.3 billion or US$18.5 billion. The massive earnings statement propped up by record oil and energy prices are making many in the UK— including ICEM affiliate T&G—call for a windfall tax bill. “With our pensions in crisis, (Shell’s) profits are 9.3 billion extra reasons for a windfall tax,” said T&G General Secretary Tony Woodley. “The government should grasp the nettle so everyone can benefit.”