BUSINESS
03/28/2008 02:45 am ET Updated May 25, 2011

Shell Posts "Obscene" Profit

Shell smashed all-time British company profit records today, posting 2007 earnings of $27.5billion (£13.9billion), and immediately ran into a storm with union leaders, who are demanding the Government hits the oil giant with a windfall tax.

Shell's profit surge - it is now making a staggering $75million (£38million) a day - on the back of a booming oil price that touched $100 a barrel this winter, was labelled as "obscene" by Tony Woodley of Unite, the UK's largest trade union, as Britons struggle with soaring energy costs.

"Shell shareholders are doing very nicely while the rest of us are paying the price and struggling," said Woodley.

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