BP....Bumper Profits. Surely there's enough in the coffers to keep on the little guy for the rainy days, the fat guy needs to get used to losing a a few pounds anyway, ready for the renewables?
Tim Bradbury I think we need have a chat about risk and return on investment. Plus the fact that BP dividends, paid from the profit, fund over 10% of the money paid by all none state pensions in the UK. Without BP profit, there would be a lot of very poor pensioners. Mobile phone companies make 30% ROi with virtually no risk; oil companies BP , Shell and Exxon combined , produce only about 6% of the world's oil, at huge risk, and make about 13% ROI. 80% of the price you pay the pump is tax. Oil companies explore, discover and produce oil in 3000 metres of water, 15000 feet below the sea bed, build pipelines, refine and distribute the product, and receive less than the cost of bottled water for that product. The profit is a big number because they are big companies. Pro rata, the profit is not huge. Go freeze in the dark and walk to work if you can do without oil. If renewables keep increasing at present rate for next 20 years, they will then only contribute 5% of the world energy demand. Go figure. Meanwhile, say yes to fracking in Fylde.
January 18 at 1:49pm · Unlike · 4 ..
Adam Grant Fantastic and enlightening response Tim, thanks. I suppose giving BP a hard time in this situation is a bit like slating the milk farmers if they were forced to lay people off due to lowering milk prices when it's Tesco and the like who drive down the price and take most of the revenue. It just shows you how unsafe it is to be led by our media, I should have known that by now! Interesting to get a different angle on things, I feel a bit easier from a moral perspective about Annie's investments in BP, as well as naive and too quick to judge. I also forgot that somebody who knows a lot more about BP than me might be reading and may also with good reason feel a little loyalty towards them. I hope I haven't frustrated you, but I'm always happy to learn and never frightened to eat my words! Adx
January 18 at 7:40pm · Like · 1 ..
Tim Bradbury Hey buddie - you certainly haven't frustrated me. I will send you a pdf article that will help you know a little more about the energy industry.
Adam Grant Hi Tim, I received your PDF, thank you. I only respond on here for the benefit of Laurie Scott who I note likes your argument, and I mustn’t let it get out that I don’t hold my own in a debate. I was staggered at the level of dependence we have on oil and gas, it seems we need at least a century to allow our economy to adapt to becoming dependant on alternatives, and even then we need to establish what they might be. I really feel for those around after that time if we don’t start now, their pensions will be the least of their worries. I wonder if BP will adapt as an energy company, because let’s face it, if we’re using that much oil it isn’t going to last and it would be a shame if BP went under, that could affect Annie’s pension, and obviously a great deal more jobs than are currently at risk in BP.
Interesting fact about the Mayan civilisation being wiped out because they didn’t secure a long term energy source, I wonder if they’ll say the same about us in a couple of century’s time? It seems to me that it is the duty of highly advanced nations to start using more efficient technologies, but also to invest more heavily in alternatives, rather than falling victim to this Jevon’s Paradox.
Yes oil allows for a high quality of life, but for how long? We should be developing replacements now so that the status quo may be maintained when it runs out, world economics clearly depend on it.
I concede to your point on profit, risk and return on investment, which I suppose was my original dig, but I won’t be saying yes to fracking, it fucks up watercourses, and as you know, I love my fishing!
January 21 at 10:34am · Like ..
Adam Grant Finally on this, I have to say, I won't be giving the oil industry a hard time ever again, it's clear that without it we'd be living in a very different world, and if I were given a choice I wouldn't risk not picking this one.
January 21 at 2:35pm · Like ..
Tim Bradbury Just seen your water course comment. No it doesn't ! Urban myths and folks plumbing gas pipes to their taps so they can claim compensation .
January 21 at 2:43pm · Unlike · 1 ..
Adam Grant Well I guess we'll see first hand, I have no doubt it will be going ahead! Looking forward to a beer with you, dry January is to blame for all this.
January 21 at 4:03pm · Edited · Like ..
Rich Graham Mate - Send me this PDF please? This is a bloody interesting conversation to read!
This comment has been removed by the author.
ReplyDelete
ReplyDeleteTim Bradbury I think we need have a chat about risk and return on investment. Plus the fact that BP dividends, paid from the profit, fund over 10% of the money paid by all none state pensions in the UK. Without BP profit, there would be a lot of very poor pensioners. Mobile phone companies make 30% ROi with virtually no risk; oil companies BP , Shell and Exxon combined , produce only about 6% of the world's oil, at huge risk, and make about 13% ROI. 80% of the price you pay the pump is tax. Oil companies explore, discover and produce oil in 3000 metres of water, 15000 feet below the sea bed, build pipelines, refine and distribute the product, and receive less than the cost of bottled water for that product. The profit is a big number because they are big companies. Pro rata, the profit is not huge. Go freeze in the dark and walk to work if you can do without oil. If renewables keep increasing at present rate for next 20 years, they will then only contribute 5% of the world energy demand. Go figure. Meanwhile, say yes to fracking in Fylde.
January 18 at 1:49pm · Unlike · 4
..
Adam Grant Fantastic and enlightening response Tim, thanks. I suppose giving BP a hard time in this situation is a bit like slating the milk farmers if they were forced to lay people off due to lowering milk prices when it's Tesco and the like who drive down the price and take most of the revenue. It just shows you how unsafe it is to be led by our media, I should have known that by now! Interesting to get a different angle on things, I feel a bit easier from a moral perspective about Annie's investments in BP, as well as naive and too quick to judge. I also forgot that somebody who knows a lot more about BP than me might be reading and may also with good reason feel a little loyalty towards them. I hope I haven't frustrated you, but I'm always happy to learn and never frightened to eat my words! Adx
January 18 at 7:40pm · Like · 1
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Tim Bradbury Hey buddie - you certainly haven't frustrated me. I will send you a pdf article that will help you know a little more about the energy industry.
January 19 at 8:16am · Unlike · 1
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January 24 at 12:38pm · Like · 1
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Adam Grant Hi Tim, I received your PDF, thank you. I only respond on here for the benefit of Laurie Scott who I note likes your argument, and I mustn’t let it get out that I don’t hold my own in a debate. I was staggered at the level of dependence we have on oil and gas, it seems we need at least a century to allow our economy to adapt to becoming dependant on alternatives, and even then we need to establish what they might be. I really feel for those around after that time if we don’t start now, their pensions will be the least of their worries. I wonder if BP will adapt as an energy company, because let’s face it, if we’re using that much oil it isn’t going to last and it would be a shame if BP went under, that could affect Annie’s pension, and obviously a great deal more jobs than are currently at risk in BP.
ReplyDeleteInteresting fact about the Mayan civilisation being wiped out because they didn’t secure a long term energy source, I wonder if they’ll say the same about us in a couple of century’s time? It seems to me that it is the duty of highly advanced nations to start using more efficient technologies, but also to invest more heavily in alternatives, rather than falling victim to this Jevon’s Paradox.
Yes oil allows for a high quality of life, but for how long? We should be developing replacements now so that the status quo may be maintained when it runs out, world economics clearly depend on it.
I concede to your point on profit, risk and return on investment, which I suppose was my original dig, but I won’t be saying yes to fracking, it fucks up watercourses, and as you know, I love my fishing!
January 21 at 10:34am · Like
..
Adam Grant Finally on this, I have to say, I won't be giving the oil industry a hard time ever again, it's clear that without it we'd be living in a very different world, and if I were given a choice I wouldn't risk not picking this one.
January 21 at 2:35pm · Like
..
Tim Bradbury Just seen your water course comment. No it doesn't ! Urban myths and folks plumbing gas pipes to their taps so they can claim compensation .
January 21 at 2:43pm · Unlike · 1
..
Adam Grant Well I guess we'll see first hand, I have no doubt it will be going ahead! Looking forward to a beer with you, dry January is to blame for all this.
January 21 at 4:03pm · Edited · Like
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Rich Graham Mate - Send me this PDF please? This is a bloody interesting conversation to read!