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TheCountOfNowhere

Bp Makes Record Loss And Axes 7,000 Jobs

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7000 more potential property investors

Yeah, that's a staggering number when you do a fag pack calculation @ £50k salaries.

Even more so when you add on the 10,000 upcoming job cuts from Shell.

Then add that to the already reported 65,000 jobs cut from the UK O&G sector.

In the region of £4 billion-ish.

The trickle down effect adding to the rout; local workshops, support industries, transport & logistics, spare parts, fuel & consumables.

And that is a heck of a lot of income tax / VAT / duties not getting paid.

Edited by cashinmattress

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"He blamed the annual loss, plus a fourth quarter deficit of $2.2bn, on the collapse in oil prices coupled with continuing fallout from the Deepwater Horizon disaster in the Gulf of Mexico."

Surely an oil co's costs are per unit (barrel in this case) so dont see why their profit was affected unless they were gouging excess margin based on its previously high value, I mean they would never do that would they ....

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Yeah, that's a staggering number when you do a fag pack calculation @ £50k salaries.

Even more so when you add on the 10,000 upcoming job cuts from Shell.

Then add that to the already reported 65,000 jobs cut from the UK O&G sector.

In the region of £4 billion-ish.

The trickle down effect adding to the rout; local workshops, support industries, transport & logistics, spare parts, fuel & consumables.

And that is a heck of a lot of income tax / VAT / duties not getting paid.

OAG is subcontracted to the limit.

7K BPers = 20K subbies too,

Watch AmecFosterWheeler

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Pretty sure the government would step in to bailout if anything happened. Its in the nations best interest too. Oil prices will rebound in due course. No chance they will let BP fail beacuse of some market volatility.

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OAG is subcontracted to the limit.

7K BPers = 20K subbies too,

Watch AmecFosterWheeler

Well aware of my EPC nemesis's impending job apocalypse.

Good riddance to the lot of 'em.

Pretty sure the government would step in to bailout if anything happened. Its in the nations best interest too. Oil prices will rebound in due course. No chance they will let BP fail beacuse of some market volatility.

No bailout required. They already got a free pass with Macondo. BP 'should' have been liquidated at that point and the monies spent on recovering the economy and ecostructure in the GOM.

Edited by cashinmattress

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Inflationary. :lol:

It would seem their inflation post QE was short lived....except in asset prices.

I dont see now how the current insanity can be sustained any longer.

Sure they can print more money but me think's there will be riots shorts after.

People have realised what their plan was

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Well aware of my EPC nemesis's impending job apocalypse.

Good riddance to the lot of 'em.

No bailout required. They already got a free pass with Macondo. BP 'should' have been liquidated at that point and the monies spent on recovering the economy and ecostructure in the GOM.

fair comment

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I'm not convinced that the fight hasn't been TV'd out of the masses tbh.

This, sadly. 99/100 could be switching off and getting real The only one still watching would think the others are all mad.

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I am thinking a mega oil merger will mark the end of the low oil prices.

A bit like when Brown sold the gold. When it was time to hold gold.

That could be a long way off in the future though.

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