The pay package for Shell’s CEO jumped by half last year to nearly $12 million, the fossil fuel giant said Thursday, as oil and gas companies made record profits from skyrocketing energy costs that have driven a cost-of-living crisis.
High-level European officials are furious with the Biden administration and are now accusing the US of profiting from the war in Ukraine while Europe is facing a potential energy crisis.
A German bakery was slapped with a €330,000 (US$330,000) gas bill after a new energy company suddenly terminated their contract which guaranteed pricing until the end of 2023, Junge Freiheit reported, citing Bild.
Over the past week, shocked Europeans - mostly in the UK and Ireland - have been posting viral photos of shockingly high energy bills amid the ongoing (and worsening) energy crisis.
Energy prices have risen sharply since Russia’s invasion of Ukraine, and are expected to continue at “historically high” levels until 2024, harming economic growth, according to the World Bank.
