Shell’s ‘Obscene’ Profits Face Backlash in Its Own Backyard

Shell Plc’s blockbuster earnings last year are triggering the ire of British politicians, unions and policy analysts, who say they’re outraged the oil major made so much money while customers struggled through a cost-of-living crisis driven partly by soaring energy prices.

The criticism raises the stakes for Shell in its home market as the company decides how to pursue investments that will boost the traditional fossil-fuel business along with lower-carbon options. With the Labour Party leading opinion polls heading into the next general election, the company may become a campaign issue and eventually face higher windfall taxes as it sends more profits to shareholders.