Well Chevron still is totally absent and has no sense of urgency. This is of huge national interest in Australia as it will hurt foreign investment. It is all over the news. It is also all over the news that Chevron seems "unorganized" to handle this dispute! Unorganized is being to kind. I still firmly this is being used by leadership as an out for it's total and complete failure. They know this project, going at it's current rate, without a industrial action (strike) would not even be finished in 2016. So lets get the heat off us for at least a while and a dam strike can really get the average person pissed at the workers while we get a breather. But in the end, we pay for this bullshit as employees. We all know what not finishing this project by 2016 will do to this company. Leadership knows all to well too. I truly believe someone will stand up and actually fix this issue before the strike commences. My cohorts say I am crazy as this is Chevron and nobody ever fixes anything they just blame others. We will see who is right.
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Alienating the strikers to an area further away from amenities will only result in pissing them off even more. If this is Chevrons way of dealing with things, they will only prolong the strike and trying to come to an equitable solution will be harder to attain. - Just my view on it.
The strike is being talked up and is unlikely to go ahead. The construction camp will be out of bounds to striking workers since it is the workplace of the camp services contractor. Those on strike will need to find some other place to go for the period of the strike. Since Chevron controls every aspect of BWI, this will likely be under a piece of tarpaulin some distance away from the usual amenities.
Sitting at Gorgon my wife is over there and called me thinking this would be big news here in the stated as we all know what is riding on getting this project done. She said it is collectively agreed upon that Gorgon in not set to be complete until late 2016. She said it is not an opinion but said matter of fact way. Especially with the joint Shell/XOM meetings. Is that your take?
Wow. If the earlier posts on this board are correct, i.e. Chevron's cash expenditure on Gorgon and Wheatstone is ~$3B/month, then when does CVX go into cash deficit ? I believe there is also significant on-going cash outlays to repair the botched Bigfoot and Angola LNG projects. At some point, and maybe sooner rather than later, CVX will have to cut or eliminate the dividend, and/or issue bonds to raise cash. Barring a miracle, and crude prices going above $60/BBL, the financial picture looks bleak.
If the company has to fess up in the 3Q earnings conference call that Gorgon will not be completed until 2016, on top of reporting a net loss for the quarter, CVX stock will sink below $69.
Thank you for the information. In the States, the company has been suspiciously quiet about this whole thing and nobody is talking about it. I suspect you are right and the upper, upper management plans to use the strike as the excuse for yet another massive delay for the project.