The problem with Shell's announcement of record profits last year (something in the region of $1.5million
an hour
) is that they didn't announce the results of their oil reserve analysis at the same time. That has widely been taken as a sign that the results are not going to benefit the consumers.
In other words the results suggest Shell (and Exxon etc) are removing more oil from the ground than they are discovering elsewhere. Which means all the political lobbying in the world is going to have little impact on the price of a barrel. If their research suggests we are running low on
known oil reserves, the price of oil simply cannot drop. More likely $85 a barrel will be a fond and distant memory.
So all this suggests Ryanair, one of the most profitable airlines in the world, are looking at anything up to a 50% reduction in profits. Ryanair losing 50% of it's profits?
Oh dear
The party is over. Those with £80k of debt, 200hrs and a lovely stack of CV's have my sympathy
Harsh, but looking increasingly accurate. Good luck to everyone, even those of us with airline jobs are going to need it.