Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

For Immediate Release

Environmental Groups

Press Release

Environmental Groups React to Royal Dutch Shell Reporting 48% Decline in Expected Earnings

WASHINGTON -

Environmental groups across the country reacted today to Royal Dutch Shell’s announcement that company earnings for the quarter would decline 48% compared to the previous year. This is the third straight quarter of what the New York Times described as “disappointing” earnings results. Forbes described the report today as “disastrous” and “dreadful.”

“Shell’s been betting heavily on dirtier and harder to get oil for the last decade, and it’s clear now that it’s been a bad bet. The new frontier for energy is not dirty oil in the arctic, it’s clean energy,” said Steve Kretzmann, Executive Director of Oil Change International in Washington D.C.

"Given Shell's appalling profit warning, how we can we expect to trust Shell with the fragile Arctic environment? They can barely make money in the most profitable business the world has ever known," said Gustavo Ampugnani, a Greenpeace Arctic Campaigner in Washington D.C.

“Shell’s announcement today is just one example of the mounting body of evidence that fossil fuel investments are not only bad for the planet, but bad for bottom lines,” said Jay Carmona, National Divestment Campaign Manager of 350.org in Oakland, CA. “Pension funds, university endowments and future retirees should take note.”

Today’s news is only the most recent development in the uncertain financial picture for fossil fuel companies. Just last week, Goldman Sachs completely divested from their previously significant financial support for the expansion of dirty coal exports to China through the Pacific Northwest. Goldman Sachs’s divestment move is the first sign that they are following their own report last year arguing that the “window is closing” for profitable investment in dirty coal.

On Eve of Key Fight, Sanders Asks: 'Will Manchin and Sinema Vote With GOP?'

"We are not going to win the elections in 2022 unless our base is energized and ordinary people understand what we are fighting for, and how we are different than the Republicans."

Jake Johnson ·


UN Chief Urges Global Solidarity on Covid, Climate, and Debt Relief

"The last two years have demonstrated a simple but brutal truth, if we leave anyone behind, in the end, we leave everyone behind," said the secretary-general at the opening of the virtual Davos summit.

Jessica Corbett ·


Sinema's MLK Day Tweet Sparks Online Fury

One group criticized the Democratic senator from Arizona as "the white moderate MLK warned us about."

Andrea Germanos ·


Why Did Democratic AG Kill Flint Water RICO Case?

"Political corruption poisoned Flint and political corruption shielded the wrongdoers from accountability," said one critic following new revelations.

Kenny Stancil ·


Progressives Counter Cherry-Picked Quotes With MLK's True Legacy

Calling out those who have "weaponized" his words "to justify legislated white supremacy," Rep. Ayanna Pressley said King "was a radical dreamer with a bold vision for revolutionary change."

Jessica Corbett ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.


Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo