Shell Scraps Plans to Cut Oil Production, Raises Payouts to Wealthy Shareholders
Shell announced Wednesday that it is raising payouts to wealthy shareholders and scrapping plans to cut oil production by up to 2% annually, a move that environmental groups said lays bare the futility of relying on fossil fuel corporations to voluntarily curb their climate-destroying activities. The London-based company, which more than doubled its annual profits last year, said in a press...