Brits sentenced to death....

[Borr 4,505]

1 minute ago, Born Hunter said:

Oil demand dropped to basically nothing meaning the industry had to cut its overheads (staff) to get the supply back in line with demand. The price dropped because supply exceeded demand:

Demand rapidly rose again and industry hasn’t got its capacity back up to deliver the supply to meet that demand. So the price shoots up because demands exceeds supply.

There will still be a lot of hesitation from the industry to grow capacity by recruiting and investing due to uncertainty, but it’ll happen and the price will balance. Assuming the world steadies. It was a very good year for the industry, as the media keeps telling everyone, so the industry will be wanting to grow capacity to capitalise on the current boom, albeit cautiously so as not to get caught out, and that’ll get supply up online with demand and bring the price down. Again assuming the world steadies.

In my opinion that is bollocks , they have had massive profits and could've chosen to maintain productivity, but as with air travel and hospitality they decided to cut off staff and skills to be short sighted in the hunt for profits for share holders...all these industries including farming have had five years to get their shit together, whether gas storage or training staff it's pathetic.... Get and sort your shit

[Francie 6,362]

3 minutes ago, Borr said:

In my opinion that is bollocks , they have had massive profits and could've chosen to maintain productivity, but as with air travel and hospitality they decided to cut off staff and skills to be short sighted in the hunt for profits for share holders...all these industries including farming have had five years to get their shit together, whether gas storage or training staff it's pathetic.... Get and sort your shit

Sounds about right borr

[Born Hunter 17,639]

5 minutes ago, Francie said:

I don't think these big companies were in any difficulty a year ago born,they were still profiting then an more now billions an billions in profits,but I know gov takes around 50 percent of that.

I must have dreamt it all then.

BPs performance,

[Born Hunter 17,639]

5 minutes ago, Borr said:

In my opinion that is bollocks , they have had massive profits and could've chosen to maintain productivity, but as with air travel and hospitality they decided to cut off staff and skills to be short sighted in the hunt for profits for share holders...all these industries including farming have had five years to get their shit together, whether gas storage or training staff it's pathetic.... Get and sort your shit

So what? They all get together and fix the price? It’s total nonsense.

[Francie 6,362]

7 minutes ago, Born Hunter said:

I must have dreamt it all then.

BPs performance,

But did the companies still not have billions in the bank?when they layed of people an blamed covid doesn't mean they were skint,the top oil companies made a combined 180 BILLION  in 2021.

[Borr 4,505]

8 minutes ago, Born Hunter said:

So what? They all get together and fix the price? It’s total nonsense.

My point is not the price but the business and infrastructure, the lack of foresight and all expecting to be bailed out by the tax payer , 

[Francie 6,362]

10 minutes ago, Born Hunter said:

So what? They all get together and fix the price? It’s total nonsense.

No there eating tea an cake an cracking jokes lol,of course there conspiring to determine the best way to make a profit,that's what there about,through manipulation of various avenues to achieve there goal.

[Born Hunter 17,639]

3 minutes ago, Francie said:

But did the companies still not have billions in the bank?when they layed of people an blamed covid doesn't mean they were skint,the top oil companies made a combined 180 BILLION  in 2021.

Their asset worth is dependant on their profitability. If they do not look like a long term profitable company they won’t be worth f**k all. You’re massively oversimplifying how companies exist. They had to lay off half the workforce to keep investors interested and keep their value.

[Born Hunter 17,639]

4 minutes ago, Borr said:

My point is not the price but the business and infrastructure, the lack of foresight and all expecting to be bailed out by the tax payer , 

Remind me how the oil industry was bailed out by the tax payer? I’m not interested in any other industry, we’re talking about oil.

What foresight? What should they have done to prepare for a downturn? How can a company expect to continue to exist when they are making a loss? How can they Mai Tain their current OpEx and staff levels when they are making a loss because of a market crash in demand?

[Born Hunter 17,639]

5 minutes ago, Francie said:

No there eating tea an cake an cracking jokes lol,of course there conspiring to determine the best way to make a profit,that's what there about,through manipulation of various avenues to achieve there goal.

Yeah if you say so. 

[Francie 6,362]

1 minute ago, Born Hunter said:

Their asset worth is dependant on their profitability. If they do not look like a long term profitable company they won’t be worth f**k all. You’re massively oversimplifying how companies exist. They had to lay off half the workforce to keep investors interested and keep their value.

So which major oil company's have gone bust in the last few years due to not making a profit born?

If the top 20 companies have made a combined profit of 180 billion in 2021 how long will that money last until there in bother,there naw short of a few bob.

[Born Hunter 17,639]

Just now, Francie said:

So which major oil company's have gone bust in the last few years due to not making a profit born?

If the top 20 companies have made a combined profit of 180 billion in 2021 how long will that money last until there in bother,there naw short of a few bob.

What’s your point?

[dogmandont 9,370]

21 minutes ago, Born Hunter said:

I must have dreamt it all then.

BPs performance,

Im well out of my depth when talking about these things but surely an industry as big and well financed as the oil industry can weather a drop in profits for a year or two with out driving prices up to claw back what they lost. 

Like i said I know nothing about these things other than less money in my pocket at the end of the week. 

[Francie 6,362]

Just now, Born Hunter said:

Yeah if you say so. 

 

1 minute ago, Born Hunter said:

Yeah if you say so. 

I haven't a clue about oil sales but I know one thing,sales an profits are discussed daily I would say in there company meeting,is thst not what sales teams an big wig executives get paid for born,there not sitting round fifa 22 lol

[Born Hunter 17,639]

Just now, dogmandont said:

Im well out of my depth when talking about these things but surely an industry as big and well financed as the oil industry can weather a drop in profits for a year or two with out driving prices up to claw back what they lost. 

Like i said I know nothing about these things other than less money in my pocket at the end of the week. 

They could if they acted together, but despite such claims, they don’t. One company cuts OpEx and staff to make themselves more attractive to investors and the rest follow. Because it’s a competition.

If they don’t cut fat, they die.