Thursday 12 December 2019

Light Relief - While We're Waiting

Here's an hilarious vanity project to make you chuckle on a dank December election day:  Saudi Aramco valued at $2 trillion!

Yeah, right.  The 2019 flotation flopperoo was one of the biggest damp squibs in corporate history.  But MbS needed his face saving; so every sheikh and stooge across the ME has been required to buy a couple of shares at crazy prices on the Riyadh exchange.  And $2tn it is!

2019 - what a year to choose to float a hydrocarbon producer.  When the entire world decided "de-carb" is a Thing, and that joining the 'Adaptation' gravy train is the only game in town.

2019!

ND

6 comments:

Swiss Bob said...

Bizarre float, the smallest of free floats. Investors who want exposure to the oil sector can find superior options. The interesting aspect is how many middle class Saudi households have been co-opted and the problems this could generate.

dearieme said...

Oil is a fine source of transport fuel and lubricants. It has other uses too. It seems, however, to be somewhat less combustible than lithium-ion batteries. Maybe someone should design an internal combustion engine to use the aforesaid batteries as fuel.

Elby the Beserk said...

dearieme said...
Oil is a fine source of transport fuel and lubricants. It has other uses too. It seems, however, to be somewhat less combustible than lithium-ion batteries. Maybe someone should design an internal combustion engine to use the aforesaid batteries as fuel.
=========================================================

You got it, dearieme

The Internal Spontaneous Combustion Engine(™)

Anomalous Cowshed said...

dearieme; me no chemist, but it seems that li and water produces heat plus hydrogen, and lithium hydroxide, which binds co2.

What's not to like? Presumably, something has a distressing tendency to explode somewhere.

andrew said...

Sounds like a centre left party will be in power tomorrow.

E-K said...

"What's not to like? Presumably, something has a distressing tendency to explode somewhere."

The Labour Party and Lib Dems.

I voted Tory yesterday. I was going to mooch on down with the dog and do the photo thing outside the polling station and then mark a cross beside the Brexit independent but then Hugh Grant and Steve Coogan stuck their oar in and insulted me. I thought "Stuff the dog ! Fire up the Alto ! These smug bastards can't be allowed to win."

Great win.

Lib Dems smashed too and may that man with the megaphone put a sock in it and give us all a rest, as Boris says.

Now comes the usual spin as to how Remain really won this.