UK News
Insights from the UK and beyond
from The Great Debate UK:
Facebook group defends “harassed” BP
BP’s chief executive Tony Hayward branded “the most hated man in America” may be surprised to find himself cast in the role of victim by a growing clan of web-based supporters on Facebook.
One such group ‘Support BP’ calls itself the defender of an “undeservedly harassed institution” and seeks to show that the public opprobrium BP faces over its now 60-day-old Gulf of Mexico oil spill is not universal.
Members have been increasingly vocal since a succession of strong rebukes of BP by U.S. President Obama and lawmakers at Thursday’s congressional hearing, which they are calling a “lynch mob”.
The outburst of sympathy follows an apology to Hayward from Texas Republican Representative Joe Barton on Thursday, later withdrawn, for having to agree to a deal with President Obama to set up a $20 billion fund for Gulf claim damages.
from Global Investing:
Is it time for a Scottish wealth fund?
Oxford SWF Project, a university think tank on sovereign wealth funds, is looking at reports that the latest entry in the field could be Scotland. The project has a new post about the Scottish government floating the idea of an oil stabilisation fund to use oil and gas revenues. It cites Scottish cabinet secretary for finance John Swinney looking abroad gleefully:
“We want to harness the benefit of oil revenues now for future years. An oil fund can
provide greater stability, protect our economy and support the transition to a low carbon economy. Norway’s oil fund is worth over £200 billion – despite the first instalment being made as recently as the mid 1990s – and Alaska’s oil fund even gives money back to its citizens every year.”
Walking the risk-reward tightrope in Iraq
It’s fair to say that investing in Iraq is not for the faint-hearted.
Just last week more than 200 people were killed in suicide bombings across the country, while kidnapping and armed assault remain commonplace.
That said, more than 600 delegates still turned up to the Invest Iraq 2009 conference held in London this week, eager to find out what opportunities there might be in the oil, construction, petrochemicals, engineering, agriculture, transport and tourism industries, to name a few.
How will the oil supply cut trickle down?
The Organisation of the Petroleum Exporting Countries agreed on Wednesday to make its deepest output cut ever to counter slumping demand and falling oil prices. The output cut has been received with cautious optimism by analysts.
Some say that the price of oil will fall further, while others say $40 a barrel was the lowest it will go.
Energy windfall tax — lifeline or legalised piracy?
A union leader has called for a windfall tax on oil companies after BP reported a big rise in profits.
Supporters say this “Robin Hood” tactic would help hard-pressed households struggling to meet eye-watering energy and petrol bills.
What’s your verdict on Gordon Brown?
By common consent, Gordon Brown’s first year is ending up as a shocker for Labour.
It may have started well last June with assured handling of a bomb threat and a swift response to the foot and mouth outbreak last August. Pledges to cut back on two largely unpopular measures: Tony Blair’s plans to open “super casinos “and the extension of drinking hours, also struck a chord with voters.
-
The Wall
