High Prices lead to high profits. High profits lead to high director remuneration. QED - tis in the interest of the high priced help in Shell (etc.) to keep the oil price high -whatever they may say!
June 22nd, 2008:
Comment by former Shell executive Paddy Briggs: For once I (sort of) agree with Jeroen
Comment by Gayle on the Shell “Sarnia Refinery Project”
By Gayle
Just a bit of clarification on this article – “Time to draw a line in the oil sands”
The proposed refinery or Extended Facility as Shell is not calling it is not in Sarnia.
It is down river in a tiny community called Courtright, and the land that they want is currently wetland, farmland and woods. Some of which are rare and supposedly endangered. Shell also wants to build a new 3,000 foot dock to load coke and the gas, diesel and jet fuel produced is marketed for the US .I know whats under my house and its pipe lines directly to Michigan.
Chevron’s Nigerian Onshore Output Halted After Attack
June 22 (Bloomberg) -- Chevron Corp.'s Nigerian onshore oil output remained halted following an attack on a pipeline operated by the company, H. Odein Ajumogobia, the country's minister of state for petroleum, said today
Mashreq could play key role in gulf-europe gas transit – Shell
Gas prices are rising globally, reflecting the increasing cost and difficulty of finding and producing supplies to keep up with growing demand. According to John Mills, Executive Vice President for Shells Gas & Power business in North Africa, the Middle East and South Asia, this situation is not likely to change in the near future.
Little hope oil summit will cut prices: Shell CEO Jeroen van der Veer
Saudi Arabia (Reuters) - Crisis talks over record high oil prices are unlikely to quickly turn the tables on roaring markets, the chief of Royal Dutch Shell said on Sunday.
22 June 2008: AG Announces $120 Million Settlement with Shell
HARRISBURG - Attorney General Tom Corbett announced a $120 million settlement of a U.S. class action lawsuit against Royal Dutch Shell, which was accused of overstating oil and natural gas reserves and artificially inflating stock prices over a five year period, from April 1999 to March 2004.
OIL SUMMIT: Nigeria Oil Output At Lowest In 25 Yrs -Official
JEDDAH, Saudi Arabia -(Dow Jones)- Nigeria is pumping oil at its lowest level in 25 years, following militant rebel attacks on facilities in recent days operated by Royal Dutch Shell PLC (RDSB) andChevron Corp. (CVX), a senior Nigerian oil official said Sunday.
Oil Prices Gush, Stock Market Slides
After months of struggling to assess the impact of a crumbling real-estate market, many stock investors are focusing more on another worry: Just how badly will high oil prices eat into economic activity and share prices?
US energy chief: Low oil production drives price
JIDDAH, Saudi Arabia (AP) -- The U.S. energy secretary said Saturday that insufficient oil production, not financial speculation, was driving soaring crude prices.
Oil Powers Seek Tonic to Record Prices In Jeddah
Saudi Arabia will try to coax its few OPEC peers who have spare production capacity to join the kingdom in pumping more barrels, although some in the cartel have been openly skeptical that raising output will rein in prices they believe are driven more by speculation than market fundamentals
Iraq Oil Rush
Unfortunately, the evolving deals could well rekindle understandable suspicions in the Arab world about oil being Americas real reason for invading Iraq and fan even more distrust and resentment among Iraqs competing religious and ethnic factions.
Where does he find the energy?
Oil prices have doubled in a year and this month hit $140 a barrel. In the UK, utility bills are heading in the same direction and last month the worst power cuts for a decade plunged parts of the country into darkness. Britain is in the grip of a global energy crisis that seems to get worse by the day.
Darling sounds like a Martian, but this is not a repeat of Life on Mars
Asked on the Today programme how the 14 per cent extra pay over two years awarded to Shell drivers fitted in with the government's inflation policy, Darling said, if I heard him aright: 'The particular problems in relation to this problem are peculiar to this particular problem.' So there you have it.
Prime Minister Gordon Brown calls for ‘new deal’ to solve oil crisis
Gordon Brown is flying to Saudi Arabia to call for a "new deal" between oil producers and consumer nations in an attempt to solve the crisis which has sent prices soaring throughout the world.
Tanker drivers for Shell, after holding motorists to ransom last weekend, extracted a 14% two-year pay rise.
Everything seemingly is spinning out of control
Midwestern levees are bursting. Polar bears are adrift. Gas prices are skyrocketing. Home values are abysmal. Air fares, college tuitionand health care border on unaffordable. Wars without end rage in Iraq, Afghanistan and against terrorism.