Shell Oil Company is under fire for buying Russian oil, and rightly so.
According to CNBC:
Oil major Shell has sought to defend its decision to buy a heavily-discounted consignment of oil from Russia, saying it would commit the profits to a fund dedicated to humanitarian aid for Ukraine.
On Friday, Shell purchased 100,000 metric tons of flagship Urals crude from Russia. It was reportedly bought at a record discount, with many firms shunning Russian oil due to Moscow’s unprovoked invasion of its neighbor. The purchase did not violate any Western sanctions.
Shell said in a statement late Saturday that it had been in “intense talks with governments and continue to follow their guidance around this issue of security of supply, and are acutely aware we have to navigate this dilemma with the utmost care.”
“We didn’t take this decision lightly and we understand the strength of feeling around it,” the statement read.
Besides the questionable morality involved, one has to wonder what are the prices Shell is charging for their gasoline, given that they got their Russian oil at a "heavily-discounted" rate? Are they passing on the discount to consumers? Shell gasoline is generally overpriced anyway.
Why are we even buying from Russia when we are sitting on vast supplies of oil here? We can thank Joe Biden for this.
A boycott of Shell is in order.
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