OT Branson asks for £ 500m bail out from our government

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Originally Posted by MadAmster

Possibly a grey area here. He himself is, indeed a tax exile, paying his personal taxes in some tax dodger's paradise. The company, Virgin Atlantic/Media/Whatever it's called is headquartered in Crawley and is therefore, I believe, subject to UK Tax Laws............. inasmuch as the 1% and the huge corporations appear to "stick to the tax Laws" which some may say isn't very much at all.

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Yep, just down the road from my office. Don't think they pay much corporation tax here though, probably transfer price it to a lower tax rate domicile. The issue is more the job loss and the PAYE and NIC the UK economy would lose, which will underpin the request

Oil just crashed to $37 a barrell.

I think people like Branson could be out of luck.

PS who's telling Sturgeon?

https://www.bbc.co.uk/news/business-52350082

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Originally Posted by Trickytreesreds

Oil just crashed to $37 a barrell.

I think people like Branson could be out of luck.

PS who's telling Sturgeon?

https://www.bbc.co.uk/news/business-52350082

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Reports last night on the news that US oil now has a negative price. You buy a barrel and they give you money to take it away.

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Originally Posted by MadAmster

Reports last night on the news that US oil now has a negative price. You buy a barrel and they give you money to take it away.

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That has a knock on effect back to the middle east. They are usually very reluctant to cut back production.
However, the price is the price.
Unstable region again?

I think I'll buy half a dozen barrels and stick them in the garage, pocketing the cash as a bonus. Hopefully nice wooden barrels 😉. Have petrol pump prices dropped in response though??

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Originally Posted by Geoff Parkstone

I think I'll buy half a dozen barrels and stick them in the garage, pocketing the cash as a bonus. Hopefully nice wooden barrels ��. Have petrol pump prices dropped in response though??

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They never do Geoff.

I read the other day, that petrol had fallen 14p/litre. Yet not all of them passed it along
Usually when the oil price drops, they hold out on the price, claiming its because the fuel in use was bought at a higher price.

Yet when it goes up, the pump price goes up over night. The same floating stock is never counted then, robbing *******s.

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Originally Posted by MadAmster

Reports last night on the news that US oil now has a negative price. You buy a barrel and they give you money to take it away.

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The long story short is that everyone is panic selling futures contract before they have to take delivery of the physical oil they signed up to buy. Obviously price hasn't risen enough since they bought the contract to make them resellable and still even yesterday people didn't want to buy.

In essence it's not a physical issue but a secondary market issue. Hence loads of VLCCs etc being chartered as floating storage facilities.