Friday, January 30, 2009

Should they get a bailout

So everyone was on "Big Oil's" back when they were making record profits but now they're in bailout mode.

Royal Dutch Shell Plc, Europe’s largest oil company, posted its first quarterly loss in 10 years following a record plunge in oil prices, and warned that industry conditions “remain challenging.”

The fourth-quarter net loss was $2.81 billion, or $0.44 a share, compared with a profit of $8.47 billion, or $1.36, a year earlier, The Hague-based Shell said today in a statement. Revenue fell 24 percent to $81.07 billion.

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