Shell’s record profits branded ‘obscene’

  • guardian.co.uk,
  • Thursday January 31 2008
  • Shell petrol pump

    Shell petrol pump. Photograph: David Sillitoe

    Shell was today accused of making “obscene” profits at a time when pensioners, motorists and industry are struggling with higher energy prices when it unveiled annual earnings of $27.6bn (£13.9bn).

    The oil major has made British corporate history with the record figures, which are equivalent to more than £1.5m an hour and come at the end of a three month period when crude prices have averaged over $90 a barrel.

    Jeroen van der Veer, chief executive of Royal Dutch Shell, described the performance as “satisfactory” and admitted that overall production for the year had actually dropped 2%.

    He said the company had benefited from launching new oil and gas projects but had suffered in the last quarter from weak refining margins.

    Read more

    Stagflation is Here

    by Prof. Rodrigue Tremblay 

    War—after all, what is it that the people get? Why—widows, taxes, wooden legs and debt.

    Samuel B. Pettengill

    James Madison, 4th U.S. President (April 20, 1795)

    “Let me issue and control a nation’s currency and I care not who makes its laws”.

    Nathan Rothschild, 1791

    Last summer, I observed that there was a “solvency crisis” underneath the ongoing subprime mortgage liquidity squeeze. Central banks can alleviate a “liquidity crisis”, but they cannot solve a solvency crisis.

    Last year also, before the events, I warned that the U.S. was heading toward stagflation.

    This was due to three fundamental factors.

    First, the structural fiscal imbalances of the federal budget in a period of prosperity, as a result of the Bush-Cheney administration’s continuous deficit spending linked to the Iraq and Afghanistan wars and to its large tax cuts;

    Second, the over-indebtedness of the overall U.S. economy coupled with an overall saving rate close to zero (in 1981, it was 12 percent), and, as a consequence, the rapidly increasing foreign debt of the U.S.; and,

    Third, the required decline in the U.S. dollar to reverse and correct the deteriorating American balance of payments. The second factor was a harbinger of less consumer spending in the coming months while the third factor would stoke the fire of overall inflation. And with already high budget deficits, there would be less leeway for an aggressive fiscal policy to sustain economic activity. The table was thus set for a bout of stagflation, i.e. slow growth and rising inflation.

    Read more

    Haliburton Enjoys $15.3 Billion in Revenue for 2007

    Halliburton reported that revenue was $15.3 billion for the full year 2007, an increase of 18% from the full year 2006, and operating income was $3.5 billion, an increase of 8% from the full year 2006. Income from continuing operations for the full year 2007 was $2.5 billion, or $2.66 per diluted share, compared to 2006 income from continuing operations of $2.2 billion, or $2.07 per diluted share. 2007 earnings per share were positively impacted by improved operating performance, a lower share count, and the favorable income tax impact from the ability to recognize United States foreign tax credits that were previously assumed not to be fully utilizable. Net income in 2007 was $3.5 billion, or $3.68 per diluted share, compared to 2006 net income of $2.3 billion, or $2.23 per diluted share. Income from discontinued operations in 2007 included a net gain of $933 million recorded for the separation of KBR, Inc.

    read more

    Unimaginable Intentional Human Suffering

    By Peter Chamberlin

    27/01/08 “ICH” — – Perhaps one day we shall know the truth about being, and being alive on planet earth, whether life on every living planet is as messed-up as it is here. Earth’s problems must be unique, as they are of man’s own creation, man-made disasters caused by ambitious men who are allowed to rise to the top, where they dominate us for self-gain. We allow our leaders to take the positions of power that they desire, instead of actually choosing who shall lead us. Humans tend to submit to those who claim authority, since it is easier to believe in symbols of power, than it is to personally submit to the tedium of the reasoning process. As a people, we tend to follow the natural order of things along the path of least resistance. By taking the easy way out, we give our blessing to the law of the jungle.

    It is natural for societies to become dominated by powerful elites, who gain control of the inner workings of government and commerce, in order to bend them both to their will. “Meritocracy” and other forms of “social Darwinism,” describe the belief that “success” by this definition justifies the survival of the fittest capitalism (globalism) that has decimated the world. The brutal belief system widely promoted as “neoconservatism” is behind the fascist agenda that emerged from the bowels of corporate-owned “think tanks.” These elitist thinkers believe that it is necessary for our government to “cull” the “useless eaters” from the face of the earth, through forced population reduction and perpetual war. They are the true radicals, possessed by “extremist belief systems.” Their plans for us are the end program of a centuries-old class war between the elitist self-proclaimed neo-aristocrats, who would be masters of mankind and the rest of the human race. The neocons are nothing new, just the latest, most-concentrated form of this egotistical brand of pure evil.

    If the elitist “one-worlders” were correct about being the “natural leaders” of the world, dedicated to saving the most noble of mankind from the excesses of the dirty masses, then their cold-blooded plans might be justified by the results, by anyone who survived them. The plan is to kill-off a significant portion of the earth’s “dead weight,” keep another segment as a labor force and extend their own lives through genetic and eugenic research. They are not being all that secretive about this research, only about where it all is meant to lead us. If the idea of rich men carrying-out a plot to kill-off billions of poor people isn’t enough to motivate the masses into torch-carrying mobs, I can’t imagine what would be enough.

    Read more

    Dying first responder + U haul truck = 911 was an inside job.

    What more do you need to realize that the attacks of September 11 2001 were an inside job?

    and than read visualization aid wtc towers

    Tony Blair starts $1M bank job

    Tony, mate give us say… half a year eh? We’ll see you right. Just keep schtum and you’ll never have to work a day in your life again.

    LONDON, England (CNN) — Former UK Prime Minister Tony Blair, who left office last June, has taken up a part-time job with a Wall Street bank on an estimated $1 million salary.

    art.us.blair.jpg

    JP Morgan Chase did not say how much Blair will make in the part-time position.

    Blair will work with JP Morgan Chase, a firm with assets of $1.5 trillion and operations in more than 50 countries. He will advise the bank on global political and strategic issues, a company statement said.

    “We operate our business all over the world, and Tony Blair will bring our leaders and clients a unique and invaluable global perspective that is especially critical in turbulent times like these,” said Jamie Dimon, chairman and CEO of the company, in the statement.

    Neither Blair nor the bank would say how much the former PM would be paid. A New York recruitment consultant though told the Financial Times that the job was likely to be worth more than $987,000 (£500,000) a year.

    SPECIAL REPORT: Turning The Police State Apparatus Against Dissenters

    Second major phase of the coordinated destruction of freedom in America targets those who refuse to go along with it
    Turning The Police State Apparatus Against Dissenters
    A sustained media propaganda campaign in support of the move to swing the apparatus of tyranny away from phantom Muslim terrorists and towards the American people is in full operation and may pave the way for further attacks on US soil to be blamed on dissenting Americans who speak out against the war and the rise of the domestic police state.

    A sustained media propaganda campaign in support of the move to swing the apparatus of tyranny away from phantom Muslim terrorists and towards the American people is in full operation and may pave the way for further attacks on US soil to be blamed on dissenting Americans who speak out against the war and the rise of the domestic police state.
    Over the past decade we have witnessed an extreme acceleration of the physical implementation of a framework and infrastructure ready to receive those who will not go along with a coordinated destruction of traditional American values and freedom. With 9/11 came the first opportunity of the 21st century to radically alter the mentality of America and introduce a new order of society.

    The corporate media is now preparing the psyche of the American public for a second major shift. This time the effort will be to direct the understanding of the manufactured and fraudulent “war on terror”, away from “Islamofascists” and “Al Qaeda” and towards dissenting American citizens.
    Over the past month or so we have highlighted this ongoing propaganda campaign in the following articles:

    Read more