Shell Admits Their Renewable Power Business Model Is Not Sustainable

Shell Admits Their Renewable Power Business Model Is Not Sustainable

May 25, 2023

Shell executives are waking up and admitting that much of their renewable power business model has not been successful and is on a financially unsustainable path. At an internal town hall, Shell Executives warned their renewable power sector of Shell that is need to pull back from the less successful elements of its clean-energy strategy and become more profitable. 

Bloomberg reports, 

“That was the message from Steve Hill, executive vice president of Shell Energy, at an internal town hall for his team on Wednesday, according to comments from the meeting reviewed by Bloomberg. It’s part of a revamped strategy from new Chief Executive Officer Wael Sawan that will be fully revealed in June, as he seeks to improve Shell’s performance and eliminate businesses that aren’t producing adequate returns.”

“Delivery will be the mandate of the organization going forward,” Hill told the gathering. “The things we’ve been less successful with, we need to scale back or stop.”

Shell’s new stance shows once again that – despite the bankrupt agenda radical green groups – the basic laws of economics cannot be ignored over the long-run. Without a sound business model and financial discipline, shifting too quickly to unreliable resources will not only cripple businesses and jobs, but eventually our entire economy.