THE BUSINESS: Regulators must bring Shell directors to book
“a deliberate attempt by Shell, over a number of years, not just a few months, to overstate their oil and gas reserves.”
29/31 August 04
THE reports by Britain’s Financial Services Authority (FSA) and America’s Securities & Exchange Commission (SEC) into Shell’s overstating of reserves are far more damning than expected.
The two regulators conclude that there was intent to mislead on the part of Shell executives, some of whom, like former chief executive Sir Philip Wilts, have walked away with large payoffs.
So no simple arithmetical mistake, then. It was a deliberate attempt by Shell, over a number of years, not just a few months, to overstate their oil and gas reserves.
The more information that is uncovered by the regulators, the more disgraceful the affair becomes. Perhaps the most damning of all is the regulators’ conclusion that Shell overstated its reserves because of “its desire to create and maintain the appearance of a strong reserve replacement ratio”.
The regulators are now looking at the individuals responsible. Let’s hope it is on the basis that those who are privileged to lead, but instead mislead, should be punished.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
