Critics Accuse Shell of Profiting, From the War in Ukraine .<br />Critics Accuse Shell of Profiting, From the War in Ukraine .<br />BBC reports that oil and gas giant Shell saw <br />record annual profits in 2022 after energy prices <br />soared following Russia's invasion of Ukraine. .<br />In 2022, profits for Shell hit $39.9 billion, <br />double the total of the year prior and the <br />highest in the company's 115-year history.<br />In 2022, profits for Shell hit $39.9 billion, <br />double the total of the year prior and the <br />highest in the company's 115-year history.<br />Energy firms around the world have been <br />registering record earnings since the price of oil <br />and gas jumped amid Russia's war with Ukraine.<br />The record profits come as <br />households around the world are <br />struggling with the rising cost of bills.<br />The record profits come as <br />households around the world are <br />struggling with the rising cost of bills.<br />BBC reports that opposition parties called Shell's record profits "outrageous" and accused the government of letting energy firms "off the hook.".<br />No company should <br />be making these kind <br />of outrageous profits <br />out of Putin's illegal <br />invasion of Ukraine, Ed Davey, Liberal Democrat leader, via BBC.<br />Following Russia's invasion, <br />the price of Brent crude oil <br />shot to nearly $128 a barrel.<br />Last year, the U.K. government introduced the Energy <br />Profits Levy on the "extraordinary" earnings of energy <br />firms to help reduce the price of gas and electricity bills.<br />On February 2, Shell said that it was due <br />to pay $134 million in taxes to the U.K. <br />and an additional $500 million in 2023.<br />However, critics point out that the U.K.-based <br />company has been paying more to its shareholders <br />than it spends on investments in renewable energy.<br />However, critics point out that the U.K.-based <br />company has been paying more to its shareholders <br />than it spends on investments in renewable energy
