“It’s not going to look good paying about $3bn in [quarterly] dividends to shareholders if at the same time local fishermen are having their livelihoods destroyed in the Gulf.”
However, BP’s dividend is of crucial importance to the City and to the pensions of millions who depend on payouts from profitable companies to boost their retirement funds. Together with rival Shell, BP accounted for 25% of the total dividends of £50bn paid in the UK market last year. Any cut in the dividend could result in investors selling BP shares, further weakening the company, which has lost nearly 30% of its value since the disaster began. [guardian]
Read those figures and weep! 25% of all dividends paid on the UK share market came from 2 oil companies. It really says it all.. just how addicted are we ? and just how vulnerable are we to shocks in the oil market. Hey our present supply, transport and survival lines depend on it and our capital makrets and pensions – or those of you who have pensions are tied up in oil futures. Aint that a paradox! Oil is not the future people.. get with the programme!!
Not only are BP pumping millions of barrels into the gulf of Mexico, they are pumping billions of pounds into our economy .. What price the envionment? We are actually investing in our own destruction.. whilst leading ourselves ever further up a blind alley of dependence on fossil fuels.
No prizes for guessing what my opinion is on the subject then?
We have to wean ourselves off all fossil fuels as fast as possible.. it will be to everyone’s advantage to do this as quickly as we can and to prioritise that over pretty much all other things. No need to go crazy, just start using less energy every day and start building strategies to work together with your local community to solve more complex challenges, like transport and energy… Its called the great transistion.. get on board folks!
