Shell Share Discussion Threads

[xxxxxy] 23/9/2021 08:01

Martin Lewis has warned up to 30 UK energy firms could go bust unless the wholesale price of gas goes down.Lewis, founder of MoneySavingExpert.com, said the massive rise in the cost of gas – up 70% since August and 250% since January – means customers and companies alike are facing a "catastrophe".He added even firms with more than a million customers could go down.Just hours after Lewis's warning, Avro Energy and Green – companies which served more than 800,000 households – became the latest to go out of business.They followed PFP, MoneyPlus, Utility Point and People's Energy which all exited the supply market in the past fortnight.Referring to the government's £140 Warm Home Discount Scheme during an interview on BBC 5 Live on Wednesday, Lewis had said: "The problem you've got is it's funded by energy firms and energy firms at the moment are being told to supply energy through the price cap of the low cost rate.Watch: Government preparing for long-term energy price hikes 0:300:58  World's biggest rooftop greenhouse opens in Montreal"So it's going to be quite tough to ask them to pay more than £140 on the warm home discount when we know there are currently around 40 energy suppliers, and unless the wholesale price starts to come down, it is quite possible there will only be 10 left at the end of this – 30 may well go under."So when I say we are in an energy bills and supply catastrophe at the moment, I don't think that is hyperbole."Lewis went on to say: "Barring the former big oligopolistic suppliers, I think [for] most firms there is a threat and it's very difficult to know which one's going to go under."He said this is because people only find out this information when a firm knows it's insolvent and has to announce this.?"We have to remember the wholesale prices right now are so much higher than the price cap that firms are supplying energy below cost, and you need a very, very strong balance sheet to be able to weather that."It's not [just] small firms at risk of going bust. There are many firms with over a million households with customers who are at risk right now. There is a substantial problem."This comes after Jonathan Brearley, chief executive of the Ofgem regulator, told the House of Commons business, energy and industrial strategy committee that "well above" hundreds of thousands of customers may be left in limbo as their energy suppliers go bust in coming months. (Follow this link for Ofgem's advice on what to do if your energy supplier goes bust.)Meanwhile, business secretary Kwasi Kwarteng told the same committee that the government would struggle to waive rules which ban one energy supplier from supplying more than a quarter of UK households.Read more:Brits warned food and drink shortages could continue despite last-ditch rescue planCancelled weddings and antidepressants: How the UK's cladding scandal is destroying livesBut he added that even in the worst-case scenario of only a handful of energy suppliers being left by the end of the year, it is unlikely that the limit will be breached.He told MPs: "In a scenario where you have 10 companies, it's difficult to see one having 25%, but I will definitely cross that bridge when I come to it."And also the competition rules are the competition rules, so I think it would be very difficult for a government simply to abrogate those."According to Confused.com, the "big six" energy suppliers – British Gas, EDF, E.ON, SSE, Npower and Scottish Power – currently make up 70% of the market.... Yahoo Finance

[partenope] 23/9/2021 07:18

from today's telegraph. i'd been wondering why the share price hasn't risen more given Shell's very strong LPG offering. An explanation is given in the article.

[partenope] 23/9/2021 07:16

Hi - I wanted to start a thread that concentrates solely on issues related to this fine and ancient company. Please do your utmost to stay on-topic :)

thanks - Pat

[xxxxxy] 23/9/2021 07:15

UK consumers pay £bns for climate policies while UK boosts World's biggest polluterRevealed: 10-fold jump in UK imports in last 20 years from China – the World's coal-fired emitter?Montage © Facts4EU.Org 2021Why should UK consumers pay for China to keep churning out more and more CO2?In just over five weeks' time the UK will host world leaders, the UN, assorted EU bureaucrats, and many thousands of climate change lobby groups at the United Nations Climate Change Conference (COP26) in Glasgow. The United Kingdom currently holds the presidency.This 10-day event will be an opportunity for Boris Johnson and his Government to showcase its leadership, in action on climate change. Readers may expect to see increasing coverage of the lead-up to this jamboree in the coming weeks, as well as saturation coverage by the BBC and Sky News during the event itself.How the UK is one of the countries encouraging China to pollute even more each yearOver the past 20 years the policies pursued by the Chinese Communist Party (CCP) have seen a large rise in its manufacturing sector and in its exports of goods worldwide. In turn, China's use of energy has increased enormously and this just continues to grow, with the building and commissioning of coal-fired power stations fueling the growth. This continues to this day, despite any token statements about climate change from the CCP.To give some indication, Facts4EU.Org has analysed the latest figures from the Office for National Statistics, looking at the growth in imported goods into the UK from China.BREXIT FACTS4EU.ORG SUMMARYThe 20-year growth in UK goods imports from China – a 10-fold increase2000 UK imports of goods from China: £5.45bn2020 UK imports of goods from China: £54.00bn (almost 10 times)?© Brexit Facts4EU.Org - click to enlargeMeanwhile, Britain's balance of payments deficit with China has ballooned. In 2000 it stood at -£3.75bn. At the end of 2020 it was -£36.35bn.The products the UK and the World buys from China are initially powered by coalThe number one source of CO2 is the burning of coal. And it is coal that is powering China's manufacturing base, which in turn churns out the increasing quantity of goods sold to the rest of the World.China's responsibility in this area dwarfs that of any other country. Below is a chart showing the top 10 countries using coal-fired power stations.BREXIT FACTS4EU.ORG SUMMARYNumber of coal-fired power stations - the top 10 countriesChina : 946USA : 286India : 253Russia : 96Germany : 96Poland : 71Indonesia : 70Japan : 51Australia : 28Turkey : 24?© Brexit Facts4EU.Org - click to enlargeOBSERVATIONSGlobal Britain is now looking outward, forging new trade deals around the World and – as we have reported in recent days – forming important alliances with partners such as the USA and Australia.As the UK trades more and more with the rest of the World, instead of being locked in by its previous EU membership, it is perhaps time to review which countries we are prepared to do business with, and on what scale.The British consumer is now being asked to pay more and more for the climate change policies of the Government, and these costs look set to increase considerably in the coming few years. As the UK feels the pain of switching out of carbon-based energy generation, it is worth remembering that the UK is responsible for only 1% of the World's emissions, despite being the World's fifth-largest economy.Not only is China the World's biggest coal-fired emitter of CO2, it shows little sign of cutting back drastically and thereby imposing hugely increased costs on its consumers at home. By buying increasing quantities of goods from a country like China, the UK is in effect merely exporting its 'carbon guilt' abroad. Emissions don't change, merely the source of those emissions, and the global climate remains the same or gets worse – depending on whether readers accept the whole 'climate change' argument.When the atrocious human rights record of China is included, together with its total disregard for international law, and its threatening behaviour to its neighbours, at what point must the United Kingdom reassess its reliance on that country and pivot with increasing urgency away from China and towards other countries?We predict with a high level of confidence that China's President Xi-Jinping will fail to show up at the COP26 world summit in Glasgow next month. If the United Nations were not as infiltrated as it is by Chinese influence, criticism would be forthcoming. Instead, it falls to other world leaders to express their 'frustration and disappointment' at what we expect to be his no-show. Boris Johnson and Joe Biden, over to you.

[xxxxxy] 23/9/2021 07:12

How could we provide more gas storage?

SEPTEMBER 23, 2021 POST A COMMENT

The government does need to win the green argument about gas. Much as it wishes it were otherwise, households and industry are going to continue to burn large quantities of gas this decade. It is a slow transition to new forms of domestic heating and to new ways of fuelling industrial processes.  It will take time to replace all the domestic gas boilers and petrol cars.  The UK therefore has a simple choice. Should more of this gas and oil come from own North Sea fields via a relatively short pipeline, or should we come to rely more and more on large tankers carrying LNG half way round the world? Surely the home production is both greener and better for UK jobs and prosperity. The government can stay focussed on leading a transition but it must ensure enough conventional fuel before it has developed more hydrogen or nuclear or battery power. It should ensure there are sufficient exploration, development and production licences for UK reserves, and a suitable tax regime to foster UK production.

The government should also wish to encourage more gas storage capacity at home. The business proposal would be that the owner of the store would fill it up during periods of low demand and soft prices, and make it available during periods of supply interruption and price spikes at prices which make them a profit but which support the market at lower prices than the  market price during the crisis. The government should call for owners of potential salt domes and old energy fields with suitable reservoirs to say on what terms they would be willing to make their stores available. They or others could bid for a role in management . The government could opt for a strongly interventionist model where it was effectively paying for a strategic reserve which it would entirely control and price when used, or for a less interventionist role where the private sector took more of the risk and kept and shaped more of the reward. The UK is an outlier with very little storage capacity compared to other advanced countries.

The government and Regulator need to procure more electrical power for the next few years. They need to cater for the retirement of substantial nuclear capacity as old plants are powered down. They need to cater for the likely increase in demand as their electric revolution progresses. They need to replace some of the vulnerable interconnector capacity and cut our import bill. They need to have a bigger buffer against days when the wind is not blowing.  They need to see what is the cheapest and best way to bridge the gaps and get new plant in place as quickly as possible. Nuclear and hydrogen may come to our assistance in the next decade but we need answers soon for the looming shortage.

.... John Redwood

[adg] 23/9/2021 06:45

Just a footnote to the discussion

If that said oilman (I am an oilman also) happened to be an American - then I am pretty sure he would keep his vote BUT he would pay taxes in his home country too if he were working for big oil company

[waldron] 22/9/2021 22:22

husted thanks for that

i guess i try and to be open minded and be an internationalist as far as possible



My share portfolios cross borders without too much ado,so pleased no restrictions there at present

take care

chuckle and cheers

[grupo guitarlumber] 22/9/2021 21:33

22 Sep, 21:30
Heads of Gazprom, Shell discuss situation on European gas market
The parties reviewed current issues pertaining to their joint activities, including the Sakhalin 2 project

MOSCOW, September 22. /TASS/. Chairman of the Gazprom Management Committee Alexey Miller and Chief Executive Officer of Royal Dutch Shell Ben van Beurden have discussed the situation on the European gas market, as well as the operation of the Sakhalin 2 project, the Russian gas producer said in a statement on Wednesday.

"The parties reviewed current issues pertaining to their joint activities, including the Sakhalin 2 project and the efforts being undertaken by the two companies to reduce their carbon footprint across the natural gas value chain. Alexey Miller and Ben van Beurden paid particular attention to the situation on the European gas market," the statement said.

Europe has been experiencing extremely low gas reserves in its underground facilities this autumn, which coupled with the other factors have pushed the prices for gas up to record highs. Particularly, the price of gas futures at the TTF hub in the Netherlands neared $970 per 1,000 cubic meters in the middle of September, though later it declined.

Sakhalin-2 has been running since 2009 and is Russia’s first liquefied natural gas plant. The first two processing lines allow for the production of about 11.6 mln tonnes of LNG per year. The operator of the project is Sakhalin Energy, with Gazprom owning a 50% plus one share stake, Shell having a 27.5% minus one share, and Mitsui & Co. Ltd holding a 12.5-percent stake. Additionally, Mitsubishi Corporation holds a stake of 10% here as well.


TASS

[kkclimber56] 22/9/2021 21:29

I was a shell man working abroad for 25 years. Always intended to return to uk but never paid a penny in uk tax for those years. The very idea of voting in uk elections during those years was an anathema to me

[grupo guitarlumber] 22/9/2021 21:29

Newbie of just 6 posts

its happens from time to time

you will have to bear it and post something important to counter these off subject movements

[partenope] 22/9/2021 21:17

any chance we could stick to talking about Shell on this thread? the previous twenty or so posts are not very interesting to me.

[waldron] 22/9/2021 19:44

thats it gecko

we disagree with your take on the right to vote

and await all British Citizens being given a life time right to vote during this year or the next


Votes for life’

The current Government is committed to removing the 15-year rule. In the March 2021 budget £2.5 million was committed to ending the 15-year limit, with legislation expected later in 2021.

[geckotheglorious] 22/9/2021 19:30

kipper999
Post 18412
"That is in part the problem with Democracy.
The 'scruff from a rotten borough' with not two braincell's to rub against each other, has the same vote as the well educated life long oil man"

Ah so you clearly believe that some votes should be worth more than others..
(let me guess, you include yourself in that category as well!)

Democracy, one man,one vote, is the least worst system we have.

Got a suggestion for a better system?

[geckotheglorious] 22/9/2021 19:28

waldron
Post 18411
"Are you implying that a senior shell type oil man is a scruff from a so called rotten borough, what ever that might be. Surprised at your response Gecko"

No. I wasnt saying that.

Oil exec has been an expat for 15 years, paid nothing in Income tax/NI front so why should he get a vote? Just because he is British?

As I actually said, Voting is perk, a privilege of being a British citizen, living in Britain, and paying taxes in Britain. Most voters are all three - some fail on the tax front being subsidised by the taxpayer in both gross and net terms.

And some people vote illegally (in more than one place) <-----scruffs!!!!!

Can't make it more simple than that for you.

[kipper999] 22/9/2021 18:35

That is in part the problem with Democracy.
The 'scruff from a rotten borough' with not two braincell's to rub against each other, has the same vote as the well educated life long oil man.

Just my opinion....

[waldron] 22/9/2021 17:47

Are you implying that a senior shell type oil man is a scruff from a so called rotten borough, what ever that might be

surprised at your response Gecko


GeckotheGlorious
22 Sep '21 - 17:38 - 18410 of 18410
0 0 0
Waldron

Voting is a perk as well!

We dont let jsut any old scruff vote now do we...(or perhaps we do in rotten boroughs!)

[geckotheglorious] 22/9/2021 17:38

Waldron

Voting is a perk as well!

We dont let just any old scruff vote now do we...(or perhaps we do in rotten boroughs!)

[waldron] 22/9/2021 17:28

Chuckle

He was still a british citizen and the taxes in main are for benefits whilst living
in the uk

roads,rail,infrastructures,medical care,police,miltary defence,education,welfare and many other perks that those living in the uk would have got

He did not have all those perks nor benefits that a home boy would have had

He might have well contributed to the UK STATE PENSION during his 25 years

Just for your information UK is one the rare examples of restricting voting rights
which might well soon change

[cassini] 22/9/2021 17:19

GTG,

Beat me to it.

It's the inverse of 'No taxation without Representation'.

i.e. No representation without taxation.

You've got to pay in, to take out.

[geckotheglorious] 22/9/2021 17:04

"With the event of Brexit said oilman then being disallowed to vote in the BREXIT referendum despite being a British Citizen as you have been outside the UK FOR OVER 15YEARS...what would you truly feel."


Did he pay UK taxes all the time he was an expat?
If no, why should he get a vote at all.

If you have left the country, and have resided overseas for more than 5 years you should not get a say on anything going on in the UK - unless you pay your UK Income tax/NI/NI stamp class 3.(See Defence/FCO posted overseas, still pay UK income tax etc)

Bet the Oilman paid nothing. For 15 years.

So tough.