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Thread: BP and the Price of Oil

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    Default BP and the Price of Oil

    CNN.com reports "UK oil company BP shuts down two more pipelines in Georgia as a precautionary measure."

    Hmm, not trying to spook the commodities markets and drive up the price of oil by any chance, are they?

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    Very possibily. But what has annoyed me recently is the price of oil has continued to drop but I have only seen one drop in price!
    Now I need a turbo to keep up!

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    It's the same with everything, quick to put it up slow to bring it down. BP make too much profit as it is.

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    The Russian president has announced a cessation to the military operation there.

    BP take action to artificially increase oil prices ??? Never.

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    its all to do with whats happening at bp on sunday,, carnt say much as will get shot...

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    Quote Originally Posted by simon1 View Post
    its all to do with whats happening at bp on sunday,, carnt say much as will get shot...
    ...they're having a charity car wash at their Wakefield filling station..?

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    Now I need a turbo to keep up!

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    Quote Originally Posted by simon1 View Post
    its all to do with whats happening at bp on sunday,, carnt say much as will get shot...
    they're changing their name to Bigger Prices?

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    nope none of the above

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    There is more to this story, than just what CNN have put!
    Georgia "invaded" South Ossetia, Russia retaliated and quite rightly

    BP, through its Russian partner TNK, had already closed the main oil and gas supply lines from Georgia

    Now that the "conflict" is over that has reduced Georgias tax revenue from this oil and gas revenue by about 80%
    Russia can easily offset this reduction from its own resources
    The fear now is that Georgia could face severe financial problems unless it is able to recommence exporting oil and gas through Russia

    As with previous wars on oil and gas, dressed up as "ethnic cleansing" and all kinds of other reasons, but read between the lines and the truth will set you free...
    The post-Iraq conflict has seen the member countries gain tax revenues from Iraq for the next 100 years, that'll do nicely thank you very much!

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