market betting no deal, page-6

For Shell the big question is whether than can make the huge capex subsequent to purchase work or not. I very much doubt they can under the current RSPT proposal, unless the Chinese offer to fully debt fund it at 6% (LOL).

The purchase of AOE is small beer in comparison. They may even see it largely as optionality, and attempt to get it now for gas banking at a cheaper price. Simply warehouse until more fiscally favourable times return.

Easy to see 4 state governments putting concerted pressure, as well as the govt facing a series after series of job losses and project deferrals/cancellations/acquisitions by Chinese/Indians throughout the election campaign.

Really if they couldn't stand the ETS heat....

EL