The writer of the Sunday LNP | LancasterOnline Nov. 6 letter “Soaring profits for corporation” complained about what he perceived as corporate greed with Shell oil and its third-quarter profits of $9.5 billion.
He should have checked the prior years for this company, as its last profitable year was 2019, with $15.3 billion. Yes, it’s a lot of money. But in 2020 and again in 2021, it lost more than a combined $42 billion.
I do not own stock in Shell, but I am tired of national politicians and others who continue to complain and bash these large oil corporations.
If the letter writer recalls, President Joe Biden suspended the leases for all new oil and gas drilling in January 2021. Such drilling possibly could have reduced prices and/or allowed countries in Europe to purchase oil from the United States, instead of Russia.
As for high gasoline prices, Pennsylvania now has the highest state gas tax at 56.7 cents per gallon. It doesn’t sound like much, but it adds up. This time we can blame our state politicians. Again, it is not all the fault of the oil companies.
Think about this: Without the research and technology from Shell and other companies, we might not be enjoying conveniences such as cellphones, electronic tablets, golf balls or even pacifiers, since these are a few items that do have some component of fossil fuel.
In addition, I am sure that these large corporations give back in the cities in which they are headquartered, be it through United Way, parades, health fairs, Scouting or many other programs.
East Hempfield Township