| Why Shell Cut Ties to Conservative Lobby Group Over Climate Change | |
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Does it matter that Royal Dutch Shell plans to cut ties to the American Legislative Exchange Council (ALEC) over climate policy? More from Bloomberg.com: For Norway, Oil at $50 Is Worse Than the Global Financial Crisis But without shilling for Shell, I'd argue that more is going on here than standard corporate double talk. Shell has developed a corporate mindset that recognizes the inevitable need to shift to renewable energy sources even as it justifies continuing to do what it's always done (drill for more oil). Shell even endorses imposition of taxes on burning oil and other CO2-emitting fuels, such as those enacted by some European countries (but not the U.S., China, or India). That's not going to satisfy environmentalists, and it shouldn't. But the company's decision to depart ALEC is a reminder that it's silly to expect a $420 billion corporation to cease doing the sole task it's designed to do, especially when there are buyers for its wares. (Current oil prices mean that Shell's Arctic venture wouldn't be profitable, but the company projects that rising demand for air conditioners and automobiles in Asia will push prices back toward $100 a barrel by the time Chukchi oil comes online.) More from Bloomberg.com: In Defiant Talk-Show Spots, Donald Trump Says He 'Cherishes' Women Instead of demanding that oil companies commit economic hari-kari, activists and politicians ought to focus on enacting the rules Shell professes to favor—and ALEC opposes—including carbon taxes, cap-and-trade systems, and the sort of emission reductions contained in the new Obama Clean Power Plan. Each time a major corporation, especially a major oil company, backs away from ALEC, the plausibility of real regulatory progress grows. More from Bloomberg.com
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Royal Dutch Shell
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CODE : RDSA.AS |
ISIN : US7802592060 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Royal Dutch Shell is a oil producing company based in Netherlands. Royal Dutch Shell is listed in Germany, in Netherlands, in United Kingdom and in United States of America. Its market capitalisation is €UR 187.4 billions as of today (US$ 214.0 billions, € 191.9 billions). Its stock quote reached its highest recent level on May 24, 2018 at €UR 31.38, and its lowest recent point on October 30, 2020 at €UR 10.10. Royal Dutch Shell has 8 222 179 840 shares outstanding. |