Friends of the Earth: Despite Dropping Crude Prices, Black Gold Still Buoys Shell in the Arctic

WASHINGTON, DC. —(ENEWSPF)—January 29, 2015. The Financial Times reported Shell’s (NYSE: RDS) annual profits for 2014, and even as oil prices came down from record highs, Shell’s 14 percent rise to $19.04 billion in profits rank it among the world’s most profitable corporations. In addition, Shell will likely receive a hefty share of $10 billion in U.S. taxpayer-funded subsidies again this year.

Oil giants Chevron and Statoil abandoned their Arctic drilling efforts late last year…