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Posts on ‘November 21st, 2009’

The SEC Surrenders to the Oil Industry

By Felix Salmon (Left)

November 20, 2009

What are the consequences of allowing multi-billion-dollar systemically important multinational corporations to report their assets using proprietary mark-to-model tools involving discredited Monte Carlo simulations? I think we all know the answer to that one. But unbelievably, after such shenanigans contributed enormously to the greatest financial meltdown in living memory, the SEC is now set to allow more or less exactly the same thing in the oil industry. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Stanlow Refinery Sale: Union warns Essar Oil of dispute with Shell

By John Donovan

Talks with Shell regarding expansion of union recognition for workers at the Stanlow Refinery have broken down. Unite the Union intends to pursue the issue through “legal channels”.

The union sent a related letter today (printed below) to Essar Oil Limited, the company named by Shell as the preferred bidder for the refinery. A deadline for the completion of negotiations between Shell and Essar for the sale of the refinery is only days away.

Part of the deal with Essar reportedly involves Shell taking a stake in the Indian company.
read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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