On 12 December news surfaced that the Dutch pension fund of Royal Dutch Shell is heavily in deficit, with a 40% plunge in value as a result of share market turmoil. A $45 million exposure to the "Madoff" fraud was revealed a few days later following speculation surrounding the stability of the fund.
December 21st, 2008:
Royal Dutch Shell Pension Fund Machinations
Lower energy prices aren’t fueling economic returns
Royal Dutch Shell PLC, for example, has postponed a near-doubling of production in Canada's oil sands an operation that some analysts say requires oil to be above $70 a barrel to be economically feasible.