North sea oil and gas

[j.sabourn]

John ref. To the tea bags , my wife drinks green tea at nights , with all the talk about China these days there is a good chance that it will be superceded by yellow tea , maybe the members of parliament are getting their speeches ready for such. Am sure the Greenies will be the first to take umbrage . JS
Cappy probably got his 3/9 years ago when he was slipped a half an hours loss of sleep money , he slept that 30 minutes so probably didn’t notice . JS

[Des Taff Jenkins]

Why has Britain waited so long before exploiting these Gas and oil fields? Were they quite content to just bludge along as always on imports? Russia's gas pipeline to Europe is' from what I read finished and ready to go, which means the gas line through Ukraine is shut off, no more money for them there. It also means that American gas may not be wanted by Europe. It's all tied up in finance, I read a report the other day about America that is devastating, in that they are in desperate financial trouble, if Iran and Venezuela were allowed to freely sell their oil the States would be in greater financial strife, hence the embargos as they can't control that oil.
Putin is worried about the creep from Nato, so he has a build up of troops, America is worried about China's naval expansion so they have a build up of ships in the Pacific, one blown up the other not so.
Des

[j.sabourn]

There is always more to a story than what you are told Des. If Scotland leaves the UK, and some foreign power decides to come in, in their place, how do you think England would take that and like it ? JS

Nationalisation of an Industry is unacceptable by many people and considered intolerable. In certain industries which are essential to the national interest it is very feasible to have. This is where the communist like countries hold the advantage. Just think if shipping had been nationalised years ago how busy the flag makers of the Red Ensign would have been today. JS

[j.sabourn]

#7.. Is that senior in rank or senior in years Cappy. Probably some anti government old amnesia ridden old trouble maker everyone has them. By all reading that will think Putin has trouble, maybe Putin even put him up to it for some dubious reason we will never know . By all accounts the same once was General should be on his way to the Gulag , so will have to watch that space where that piece of info came from , no doubt the media’s job and will see how good they really are in reporting the news as it happens. All that is really required is one common soldier of the army of occupation at the border as to what he has been told his future duties are and his feelings on the subject. I am sure one of the American special services could pop across and snatch one for interrogation. They do it all the time in the movies . See you did get repaid the 3/9 you just forgot that’s all , Cheers JS

[cappy]

#7.. Is that senior in rank or senior in years Cappy. Probably some anti government old amnesia ridden old trouble maker everyone has them. By all reading that will think Putin has trouble, maybe Putin even put him up to it for some dubious reason we will never know . By all accounts the same once was General should be on his way to the Gulag , so will have to watch that space where that piece of info came from , no doubt the media’s job and will see how good they really are in reporting the news as it happens. All that is really required is one common soldier of the army of occupation at the border as to what he has been told his future duties are and his feelings on the subject. I am sure one of the American special services could pop across and snatch one for interrogation. They do it all the time in the movies . See you did get repaid the 3/9 you just forgot that’s all , Cheers JS

aye ye sent the 3/9......but ye nivver paid the 2 bob interest ye spalpeen.......cappy

[j.sabourn]

That must be Putins favourite dance the Hokey Pokey, " You put your right foot in your left foot out , your left foot in and you shake it all about ", he maybe do this little dance when lecturing his Generals how to keep order. JS

[Rodney Mills]

On our news this a.m. B.P announced its earnings, I assumed for the past year, as the first quarter is not over yet. It announced record earnings and it was attributed to the increased prices of gasoline/petrol. Which means to me that if gasoline is $2.00 a gallon (or two of any currency of MN Friends's respective countries) and BP's profit is 10% (just a number to make this example easy) BPs per gallon profit we can assume is 20 cents per gallon.

If the price of gasoline is raised to $3.00 per gallon, due to a shortage caused by a rig blowing out, rain in the North Sea or whatever, then BP's profit per gallon rises to 30 cents a gallon. Common sense says bad news for production is good news for management, sure there will some cut down in sales due to people slowing down on discretionary driving, but will you really cancel that driving holiday you promised the kids?

Perhaps the answer is to fix the price of profit on a sliding scale, if the price of gasoline goes up the profit return goes down. With a median price set,

The oil companies cannot lose really, because if you tell the kiddies we can't go on that driving holiday so we will all stay home and enjoy the garden. The oil company can't lose, because it slows down on pumping up oil and the oil not used stays in the earth and stays part of the Companie's inventory.

Just the same as if I stop or cut down on spending my savings, my money stays in the bank. oil like my money is finite resource it's not used then it stays in the ground. Eventually we will both run out.

So, oil is not a renewable resource, neither is my money, bank interest rates are a joke, at 84 I would be stupid to invest, if I pick a dud I don't have the time to financially recover. Yet unlike my money, oil can keep increasing as prices go up.

Management presents a budget; management is given an employment contract. If management achieves its budgeted profit target, management gets a bonus. Management (as BP's management have just done) increases the stockholders dividend. Stockholders are happy, management's employment contract will be renewed or extended. Everybody wins, except you and I and the others pulling up to the pump.

P.S. i know the examples I have used are real in business, because I was CEO of a, tiny in relationship to an oil company, multi-national company for seven years, snr, VP of operations for 3 years and a managing director of an international division for 3years, all together 17 years with the same company. And I benefited from the forementioned rules.

Cheers, and happy driving.

[j.sabourn]

#27 Whenever BP is mentioned everyone assumes the Company is only associated with oil they are to a certain extent but they are diversified into other products. My son in law was head hunted at University and on gaining his Ph.d worked for BP.at Grangemouth , he was at the time specialised in plastics. I can remember him saying to me long before the uproar about plastic waste ,” if I can find a method of breaking down plastic “ I will be a millionaire. Unfortuanetley he was pensioned off at an early age due to ill health , so don’t know how far the process went to what he was working on. The big comglamorate out here is BHP ( Broken Hill Proprietary) I don’t know how close some of these big companies work together, but in a free market they rule the world. Governments in a Democracy come and go , the big boys are the real controllers of your destiny in the money market. JS

[happy daze john in oz]

It was announced by BP a couple of weeks ago that they will make more money from recharging points for EV than they will from oil.

Here in Oz most servos are franchises, very few owned directly by the oil companies.

One of the reasons for high fuel price, besides the cost of oil now at about $90 a barrel, is the margin put on by the owners of the franchise.
It can be as high as 30 cents per liter.

Shell is the most expensive in our area with BP the lowest apart from the independents, who incidently buy their fuel from the big boys.

In Bendigo Sunday Diesel was from $1.71 to $1.78 per liter.

On the way home saw an independent at $1.61 so filled up half a tank.

One kilometer down the road an Ampol site at $1.78, opposite an independent at $1.54 for the same fuel.

[Des Taff Jenkins]

Is this common sense? Yesterday it was announced that an Australian company, who build charging points for Electric cars, are going to build a huge factory in the States, our Govt welcomed this, DU what about building it here and exporting the product, this Govt is always talking about bringing our manufacturing back home. WE used to build ships, and lets not forget about those Subs, which we are no longer going to build but import.
Des