Dod101 wrote:That will presumably miff the Dutch and will be a fillip .... The new chairman seems to be in the business of tidying up company share structures
I had to give you a rec for 'miff' and 'fillip' in the same post
I hope the new broom does not try to retire their Preference shares, although this is perhaps not the right board to say so.
One wonders how much of a recovery we can expect in the divi. A commentator on the wireless this morning was comparing the oilies to the water cos, in that the water cos are responsible end to end for their product, the cleanliness of the water to the cleanliness of the sewage or perhaps irresponsible in the case of the sewage, but anyway, he was comparing this to the oilies where they sell the product and the waste is then dumped into the atmosphere.
This is not a terribly good analogy as the oilies have no control over use or disposal, but he was suggesting that the oilies should offset themselves by carbon capture. Which of course might be a good thing but jolly expensive.
In practice, on a day when China alone mined 12,000,000 tons of coal, the notion of capture on that scale seems comical, but if govts are looking for someone to blame and pay for cleanup, the concept of producer pays might be dusted off again.
And the oilies don't help themselves when they are still flaring gas, seems almost unbelievable really.
If this sort of thinking does takes root it might be good for the planet, but not so good for shareholders, even though they mostly live on the planet of course.
V8