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Posts Tagged ‘Vince Cable’

Saudi purge may lift lid on Shell’s money-laundering role in £43bn BAE al-Yamamah arms deal 

By John Donovan

The Times has published an article today, 11 November 2017, under the headline “Saudi purge may lift lid on £43bn BAE arms deal

Extract: Britain’s biggest -ever arms deal faces renewed scrutiny after Saudi Arabia placed it at the centre of an urgent criminal investigation as part of the kingdom’s anti-corruption drive. One of the hundreds of princes, ministers and businessmen held in the country’s unprecedented purge of senior figures is Prince Turki bin Nasser, the royal at the centre of the so­ called al-Yamamah scandal, The Times has been told. read more

Did Vince Cable recuse himself from Kiobel v Shell controversy?

Screen Shot 2014-05-01 at 11.34.46

Vince Cable Described As ‘Minister For Shell’ In Letter From Oil Giant

By John Donovan

Vince Cable, the Secretary of State for Business, Innovation and Skills was formerly a senior Royal Dutch Shell executive.

It has recently come to light that Shell successfully lobbied his department to intervene on Shell’s behalf in a case being heard by the US Supreme Court: Kiobel-v-Shell.

The UK Information Commissioners Office (ICO) has just released its decision in regard to a complaint:

Extract read more

Ex Shell chief economist Vince Cable says ‘no-one needs to earn £1m a year’

Screen Shot 2014-03-16 at 10.11.56Extracts from a BBC News article published 15 March 2014 under the headline: Vince Cable says ‘no-one needs to earn £1m a year’

Business Secretary Vince Cable has said he does not understand why people need to earn £1m per year. “I’ve asked one or two of the more sympathetic bankers to explain it to me,” the Liberal Democrat said in an interview with the Observer newspaper. He said their response was “because others get it so I should, too”. “That is a ludicrous mindset. What on earth do these people think they are doing?” said Mr Cable, who recently criticised bonuses paid out by RBS. read more

Vince Cable Described As ‘Minister For Shell’ In Letter From Oil Giant

Vince Cable Described As ‘Minister For Shell’ In Letter From Oil Giant

A letter describing Vince Cable as the “contact minister for Shell” has raised fresh questions about the business secretary’s relationship with the oil giant. In the letter to Cable dated 19 March 2012, Malcolm Brinded, the then chief executive of Shell Upstream International, sets out how the company would like the coalition to harden its line against the European Fuel Quality Directive, a policy initiative aimed at reducing emissions from transport fuels. …

www.huffingtonpost.co.uk read more

The Guardian: We have been here before: the price of oil will fall

FROM OUR AUGUST 2005 SHELL NEWS ARCHIVE…

Forecast in August 2005 from Vince Cable,  the former Chief Economist of Shell: “We have been here before: the price of oil will fall”

Monday August 8, 2005

Vincent Cable

One piece of conventional wisdom which is hardening into a truism is that oil prices will continue to rise. Recent headlines include: “Shell predicts two decades of rising oil prices” and “Oil will hit $100 by winter”.

The futures markets are expecting prices to continue to rise from just over $60 a barrel to $64-$65 in six months. The mainstream forecasters anticipate continued high prices in the short and even long term.

We have been here before. At the peak of the 1979/80 oil shock, when prices reached $80 a barrel in today’s terms, a poll of forecasters showed a consensus expecting prices to rise indefinitely. The forecasts were underpinned by the belief that supplies were becoming exhausted or that the Opec cartel had limitless capacity to adjust supply to maximise revenue. Little account was taken of the supply and demand response which led to the collapse of prices within five years. The old adage of all commodity markets that high prices lead to low prices was forgotten. It is being forgotten again. read more

The Guardian: We have been here before: the price of oil will fall

The Guardian: We have been here before: the price of oil will fall

“One piece of conventional wisdom which is hardening into a truism is that oil prices will continue to rise. Recent headlines include: “Shell predicts two decades of rising oil prices” and “Oil will hit $100 by winter”.

Monday August 8, 2005

Vincent Cable

One piece of conventional wisdom which is hardening into a truism is that oil prices will continue to rise. Recent headlines include: “Shell predicts two decades of rising oil prices” and “Oil will hit $100 by winter”.

The futures markets are expecting prices to continue to rise from just over $60 a barrel to $64-$65 in six months. The mainstream forecasters anticipate continued high prices in the short and even long term.

We have been here before. At the peak of the 1979/80 oil shock, when prices reached $80 a barrel in today’s terms, a poll of forecasters showed a consensus expecting prices to rise indefinitely. The forecasts were underpinned by the belief that supplies were becoming exhausted or that the Opec cartel had limitless capacity to adjust supply to maximise revenue. Little account was taken of the supply and demand response which led to the collapse of prices within five years. The old adage of all commodity markets that high prices lead to low prices was forgotten. It is being forgotten again. read more

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