How BP will handle the crisis, going forward
- Thread starter blacbird
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Note that they're talking about pension funds, not pensions. The reduction in the share price will hit some funds, no doubt, but if BP cannot restore its dividends back to previous levels, then the pension funds will look elsewhere for value. Exxon and Shell are probably looking like good bets.
Oh, of course. I don't think the pension funds are the most vital thing to be worrying about just now either. As Priene says, there's always Exxon and Shell. Perhaps it's our media trying to put a British angle on the story, but it's misplaced.
BP are currently deep-water drilling off the coast of Shetland, something we're not hearing very much about. Our government hasn't banned it yet or asked for a moratorium, and I fervently hope this operation doesn't lead to disaster too. Perhaps there are reasons why it would or wouldn't, and maybe blac could give his opinion on that if he has time.
The people most worried about pension fund are the pension fund managers. If their funds are heavily invested in BP, their yearly results will be awful, and their bonuses will suffer. Barack Obama has probably made some revoltingly rich people not quite as rich as they would have been. But an individual's pension is sculpted by economic events and decisions taken over decades.
As far as I can make out, a few fund managers have been whingeing. Plus Boris Johnson, but if he's going to be taken as representative of Britain, we might as well sever all communication with the outside world. The man's a buffoon, and an idiot, and a bumbling fool, and one of the problems with the internet is that the nonsensical statements of people like him are seen by outsiders who haven't had previous experience of their behaviour.
As far as I can make out, a few fund managers have been whingeing. Plus Boris Johnson, but if he's going to be taken as representative of Britain, we might as well sever all communication with the outside world. The man's a buffoon, and an idiot, and a bumbling fool, and one of the problems with the internet is that the nonsensical statements of people like him are seen by outsiders who haven't had previous experience of their behaviour.
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