After strong pushback from legislators here in the US and EU, Shell is pledging to funnel profits made from Russian oil to a fund which will assist Ukrainians.
Shell posted on Twitter, we will “commit profits from the limited amount of Russian oil we have to purchase to a dedicated fund.” Shell also promised they would work with humanitarian agencies in Ukraine on how best to allocate the money.
Russian oil makes up about 10% of the world’s supply behind the Saudis and the US, and Shell has been a consistent purchaser of Russian crude.
The Left: The US should use this opportunity to allow gas prices to hit all time highs, with the long game being a permanent switch from gasoline powered to electric vehicles before the end of the decade.
The Right: High gas prices are contributing to the pandemic recession’s length and severity, and conservatives believe that the boycott will not only hurt middle America, but creates a Russia that is more unpredictable and dangerous.