Oil at the roulette table
As the super rich oil barons and market traders play at the roulette table that represents the crude oil and related industries the direct impact of their detachment from the ordinary lives of people throughout the world is laid bare. Joining the ranks of politicians across the country the gulf between super rich, politicians and the people is so great that they are immune to the thought that their actions have a direct impact on life.
As the bankers before them, the oil industry is now gambling with a basic commodity of our every day lives with no consideration other than their own ‘market share’, their own income security and their own almost insane drive to amass wealth at any cost. As the market traders bet the oil floor hitting $20 dollars a barrel the real effects are now being felt across the world.
In the UK to date in excess of 1000 lives have been directly affected during the play at the casino table. Over 1000 people no longer have an income, have the stress of losing that income, the threats associated with paying their bills, the strain on relationships, turmoil in their family lives and the worry over finding another job, most likely not in the oil industry at this time.
Economic downturns have happened before in this industry 1996 is cited as one downturn, but never before has a downturn been so clearly engineered with a motive aimed at domination by the few over the many. The drive for alternative energy sources in the UK must shift gear. Take away their markets and their power over the source and restore security over energy to the nation states.
So who are the big players in the North Sea?
Shell said it employs about 4,500 staff and core contractors in Scotland, and has about 1,000 additional contractor positions. Shell UK announced it was cutting 250 jobs in August.
BP currently employs 3,500 people in the North Sea, with a further 11,000 elsewhere in the UK.
January 15 they announced 300 job losses. http://www.bbc.co.uk/news/uk-scotland-scotland-business-30817678
Talisman Sinopec employ 3000 staff January 29th they said 100 staff and 200 contractors would be affected, from a workforce of about 3,000.The company said it needed to take appropriate action to offset the declining oil price and increasing operating costs. http://www.bbc.co.uk/news/uk-scotland-north-east-orkney-shetland-30897571
Apache entered the North Sea in 2003 when they acquired the Forties field from BP. They imposed a 10% reduction on its contractors’ wages from 1 January.
ConocoPhillips, the US based giant has 1,650 jobs in the UK
Chevron UK has a turnover of £1.17bn. It announced last July it was cutting 225 jobs and cutting contractor rates.