Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.

countries who have no other choice for exploiting their resources than teaming up with "Majors" such as BP, all this to receive a meagre share of the profits

It's the other way round. The biggest problem of the majors is that they are welcome in so few countries these days that those that are willing to work with them can pretty much call the shots and set the terms (or improve further the terms set in earlier years). Host countries typically get 90% of the marginal revenues these days.

As to the aggressiveness of financial structures, it never got too bad, apart for pricing, which is a lesser problem. And now that the sector is so rich anyway, operations have all but dried up.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Thu Nov 30th, 2006 at 09:30:54 AM EST
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