Have you noticed, with all of the countries kicking in with help for Ukraine, the OIL COMPANIES

[BComplex]

are all staying silent? Obviously they don't have a lot of patriotism for democracies around the world.

It's way past time that the United States QUIT letting the oil & gas companies get away without paying any, or almost no, income taxes. It's beyond absurd that this has gone on for so long. With the planet in melt-down mode due to fossil fuels, and all the money that climate change costs the government in terms of fires and hurricanes, they still get away with all this crap.

You notice Saudi Arabia refused to hold the price on oil. And you KNOW Jared Kushner has been on the phone with his Saudi pals.

One thing the war in Ukraine has definitely helped the world see is WHO, and WHICH COMPANIES are behind democracy, and who isn't.

[PortTack]

1. BP has dropped it's 19.75% interest on Rosneft, shell has dis-invested today as well

[BComplex]

4. That's great news! Who is shipping gas to the parts of Europe that have been relying on Russian oil?

We need the big oil companies to step up and get the Europeans some gas! If everyone quit buying Russian gas (or threatened to on a long term basis because they now had a viable alternative), this bloody fiasco would be over in a New York minute.

[WarGamer]

6. EU nations are imprting Russian energy... every day. Yesterday, today and tomorrow.

They have no replacement right now.

[BComplex]

10. "Right now" is the key here.

I'd love to see the oil companies step up, in a big way, and help give Europeans an option for the long run. Russia has them over a barrel, so to speak.

[WarGamer]

12. the problem is... it's a Global commodity so that's why the price is so stable.

Oil from the Dakotas is ALSO worth $100/bb as is Saudi crude.

The US can certainly export more oil and gas but some folks here don't want the US to do that.

It's a political "hot potato"

[NickB79]

23. The US has sent dozens of LNG tankers so far

The problem is that gas transported by tanker is more expensive than gas via pipeline. Replacing all of Russia's gas with tanker-imported sources would drastically increase energy costs in Europe.

Europe's only long-term play to get sufficient energy without blowing through their Paris Accord pledges for climate change are more wind, solar and nuclear. But that will take a couple of decades to build out.

[relayerbob]

2. No, they all aren't

Shell and BP have already ending partnerships and divesting. Others are following suit

[lagomorph777]

3. I hate them too, but they do seem to read the writing on the wall.

And it no longer says "For a good time, call Vlad"

[Deuxcents]

5. Past time that we stop giving them allowances from our taxes

And then more taxes at the pump. Their bonuses prove they’re doing just fine.

[WarGamer]

8. Although it's fairly obvious that the OIL CO's

will just consider increased taxation to be "Cost of Business" and jack up prices to maintain profit levels for shareholders.

ECON 101

[Lancero]

7. Gas companies have been leading the way in hitting Russia's top exports.

BP yesterday, Shell today.

Gas and oil companies have done more to hit back against Russia's top exports than any world government has. Fucking sad state of affairs when they're the ones serving as a example.

[onenote]

9. Apparently you haven't noticed that companies like Shell and BP have led the way

in cutting ties with Russian oil companies.

https://www.ft.com/content/d85c2133-8917-4a00-8fba-6cef570ed5b7

So maybe you should amend your post?

[BComplex]

13. The point is, they're cutting ties, but that's not answering the demand.

I'm really glad that a couple of the big companies are getting out of their relationships with Russia, but there's still a problem with helping....especially right now...to get the gas/oil to the European countries that are dependent on Russian oil.Especially Germany! They've really taken a hit, and stepped up as a country to shut down Russia's pipeline, to their own detriment.

[onenote]

19. The point is that you should amend your claim that oil companies are remaining "silent"

and your implication that they are enemies of democracy.

[Ocelot II]

15. So has Equinor.

[Budi]

16. Yup.

https://www.google.com/amp/s/thehill.com/policy/energy-environment/596139-shell-joins-bp-in-divesting-from-russia%3famp
February 28, 2022 - 01:40 PM EST
Shell joins BP in divesting from Russia


https://www.google.com/amp/s/www.marketwatch.com/amp/story/swedish-truck-maker-volvo-halts-production-in-russia-271646059210
Swedish Truck Maker Volvo Halts Production in Russia
Published: Feb. 28, 2022


https://www.google.com/amp/s/uk.finance.yahoo.com/amphtml/news/swedish-engineering-group-sandvik-pauses-130457502.html
Swedish engineering group Sandvik pauses Russian operations
28 February 2022, 07:04
STOCKHOLM (Reuters) - Swedish engineering group Sandvik is suspending its operations in Russia, the company said on Monday.

Russia accounted for 3.5% of Sandvik's sales in 2021. The group has no production in the country but about 900 employees in sales and services.
Its shares were down 6% at 1215 GMT.

UPDATED MON, FEB 28 2022 4:41 PM EST
Russia and Ukraine say first talks have ended, Canada to ban Russian oil imports
https://www.google.com/amp/s/www.cnbc.com/amp/2022/02/28/russia-ukraine-latest-updates.html

There's a long & growing list of suspensions begining & one affect another.
Remember that the suspension of global oil & gas just cannot be halted in one day, as its far more complicated than that.
Oil cos & the supply chain connected to their product on a global scale, will be a process rather than an absolute stoppage.

[msongs]

11. they will be war profiteers if they raise oil and gas prices now nt

[BComplex]

14. The prices are already going up.

Everywhere. Even in the USA.

[mahatmakanejeeves]

17. No, I haven't. Perhaps you ought to pay a visit to news.google.com.

https://news.google.com/search?q=oil+companies+russian+assets&hl=en-US&gl=US&ceid=US:en

[Disaffected]

18. BP & Shell don't fall into that category

but I'll be interested to see what Exxon-Mobil etc do.

[hippywife]

20. Sorry, no. You need to catch up with the news.

Just because you haven't heard/seen it doesn't make it so.

[mahatmakanejeeves]

21. Anyone Selling Russian Assets Faces Few Options, Big Losses

Lots of people trying to sell; no one wanting to buy

Markets

Anyone Selling Russian Assets Faces Few Options, Big Losses

• Norway’s wealth fund, BP among investors in Russian retreat
• Taking a major writedown may be one possible fallout

Investors seeking to offload holdings in Russian assets will find that the actual unwinding will be a complex and potentially expensive endeavor.

A growing number of institutions are rethinking their portfolios in the wake of Russia’s invasion of Ukraine. Norway said it’s removing Russian assets from its $1.3 trillion wealth fund, while U.K. oil giant BP Plc is looking to offload its stake in Rosneft PJSC.

But selling shares in the open market and finding buyers for these investments won’t be easy, given a dramatic increase in sanctions that have turned Russia into a political and economic pariah. ... Here are some of the complexities -- and possible losses -- that investors will need to consider if they want to follow through.

{snip}

[mahatmakanejeeves]

22. Russia-Ukraine war: The companies that have taken action so far

Yahoo Finance

Russia-Ukraine war: The companies that have taken action so far

Brian Sozzi and Alexandra Semenova
Mon, February 28, 2022, 4:58 PM

All eyes are on Russia this week as the West’s growing docket of financial penalties deal a harder-than-expected blow to the country’s economy, challenging a decades-long effort by President Vladimir Putin to make the system sanction-proof.

To add to the economic blowback, Corporate America and a growing number of multinational companies have joined in protest of Moscow’s military attack on Ukraine, moving to sever business dealings with Russia or take a stand in support for Ukrainian refugees.

Measures by the U.S. and Europe, including a move to block some Russian banks from the SWIFT payment network and sanctions on the Central Bank of Russia, have already sent the ruble cratering more than 30% and kept the Moscow Stock Exchange closed on Monday. A sharper economic fallout is underway, with JPMorgan warning the country is poised to enter a recession.

More penalizing announcements from multinational companies expected in the week ahead are likely to further derail the economic picture for Russia and the way of life for its citizens.

{snip}

[BComplex]

24. So what everyone here is saying is that the oil companies are going to take up the slack

in demand for European oil from Russia without driving the price of oil through the roof for the whole world?

When I heard that Saudi Arabia refused to increase production, that means that the price is going to go sky high. They're already saying on the news that gas in California will likely be $5.00/gallon by the middle of March.

The oil companies are still going to make their trillions selling oil. They aren't going to suffer! They're not going to miss a dividend. And all the countries that are supporting Ukraine are going to pay out the nose for oil.

I'm really glad that companies that have been in bed with Russian oil will wake up and do the walk of shame after noogling with this dictator. That takes a financial hit, for certain, for those companies, and I respect that! But they're also protecting themselves, now that they've seen that Putin will be crazy enough to do whatever, whenever.

But the entire American oil industry has not been in bed with Putin and his oligarchs. What are they going to do for Germany and the others? Germany just gave up a BIG deal, many years in the making, when they stopped the pipeline because of Ukraine.

[mahatmakanejeeves]

25. There's something the Germans can do to begin to take up the slack by themselves.

Fri Dec 31, 2021: Germany shuts down half of its 6 remaining nuclear plants

Source: AP

By FRANK JORDANS

BERLIN (AP) — Germany on Friday is shutting down half of the six nuclear plants it still has in operation, a year before the country draws the final curtain on its decades-long use of atomic power.

The decision to phase out nuclear power and shift from fossil fuels to renewable energy was first taken by the center-left government of Gerhard Schroeder in 2002.

His successor, Angela Merkel, reversed her decision to extend the lifetime of Germany’s nuclear plants in the wake of the 2011 Fukushima disaster in Japan and set 2022 as the final deadline for shutting them down.

The three reactors now being shuttered were first powered up in the mid-1980s. Together they provided electricity to millions of German households for almost four decades.



FILE - The nuclear power station is seen in Gundremmingen,southern Germany, May 23, 2006. Germany on Friday, Dec. 31, 2021 is shutting down half of the six nuclear plants it still has in operation, a year before the country draws the final curtain on its decades-long use of atomic power. (AP Photo/Christof Stache, file)

Read more: https://apnews.com/article/technology-business-germany-angela-merkel-gerhard-schroeder-11b97717f822a38c90fb7483ffc825aa

[Igel]

26. Instead they've announced plans

to begin planning for building LNG terminals. I'm sure they'll be online by ... Today's Monday? ... Thursday, this week. Or Thursday, next decade.

Long-term solution to an absurdly immediate need.

A solution proposed not just a couple of years ago and panned but over a decade ago and likewise panned. But it was "risky." Nord Stream *2* was safer and sounder.

Yeah, that turns out to have been prescient. Wise. Far-sighted. Gandalfian in outlook.

As for the nuclear plants ... it was required. If you're a Green, the only good nuke is a never-having-been-conceived nuke.