Shell profits doubled in 2010

And we give Big Oil tax breaks because…why? They look like they’re doing fine so maybe it’s time they operate without government welfare. If Washington is obsessed with giving away handouts, maybe they should give the tax breaks to another industry that actually needs help growing. BBC News:

The oil giant Shell has reported profits almost doubled from $9.8bn to $18.6bn (£11.5bn) for 2010 thanks to rising oil prices and production.

Its chief executive, Peter Voser, said the company had made good progress and that there was “still more to come”.

During the year, the company made $7bn of acquisitions and invested $3bn in exploration.

For the final quarter Shell made profits of $5.7bn, compared with $1.2bn for the same period in 2009.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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