{"id":275173,"date":"2010-02-04T05:26:01","date_gmt":"2010-02-04T10:26:01","guid":{"rendered":"http:\/\/www.businessinsider.com\/oil-giant-shell-says-demand-is-weak-outlook-is-uncertain-and-that-its-going-to-be-giving-out-more-pink-slips-2010-2"},"modified":"2010-02-04T05:26:01","modified_gmt":"2010-02-04T10:26:01","slug":"oil-giant-shell-says-demand-is-weak-outlook-is-uncertain-and-that-its-going-to-be-giving-out-more-pink-slips","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/275173","title":{"rendered":"Oil Giant Shell Says Demand Is Weak, Outlook Is Uncertain, And That It&#8217;s Going To Be Giving Out More Pink Slips"},"content":{"rendered":"<p>If you figure a giant oil multinational is a good proxy for the global economy, then Shell&#8217;s latest report won&#8217;t be too comforting.<\/p>\n<p>The company reported a <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748704041504575044442461332392.html\">Q4 profit of $1.96 billion<\/a>, but the company&#8217;s refining business is still getting killed on weak end-customer gasoline demand.<\/p>\n<p>And so it intends to cut another $1 billion out of its expenses, and slash another 1,000 jobs in the new year.<\/p>\n<p>If you want to see a chart that really explains what&#8217;s going on, this one <a href=\"http:\/\/www.businessinsider.com\/oil-traders-dont-realize-america-is-kicking-its-oil-habit-2010-1\">we posted yesterday<\/a> from Schork tells the story.<\/p>\n<p>We&#8217;re just not headed to old gas consumption highs.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4b681bef000000000081a38b-436-327\/schork-gasoline-consumption.gif\" border=\"0\" alt=\"schork gasoline consumption\" width=\"436\" height=\"327\" \/><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/oil-giant-shell-says-demand-is-weak-outlook-is-uncertain-and-that-its-going-to-be-giving-out-more-pink-slips-2010-2#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/oil-traders-dont-realize-america-is-kicking-its-oil-habit-2010-1\">Oil Traders Blind To The Fact That America Is Kicking Its Oil Habit Fast<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/forget-becoming-an-oil-power-again-iraq-is-a-nuclear-wasteland-2010-2\">Forget Becoming An Oil Power, Iraq Is Actually A Toxic Nuclear Wasteland<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/buffets-bet-is-off-track-on-burlington-northern-railway-2010-2\">Buffett&#8217;s Bet Is Off Track On Burlington Northern Railway <\/a><\/li>\n<\/ul>\n<p><a href=\"http:\/\/feedads.g.doubleclick.net\/~a\/7aGSw-JGmp_apvz5lJdAPPgBDRc\/0\/da\"><img decoding=\"async\" src=\"http:\/\/feedads.g.doubleclick.net\/~a\/7aGSw-JGmp_apvz5lJdAPPgBDRc\/0\/di\" border=\"0\" ismap=\"true\"><\/img><\/a><br \/>\n<a href=\"http:\/\/feedads.g.doubleclick.net\/~a\/7aGSw-JGmp_apvz5lJdAPPgBDRc\/1\/da\"><img decoding=\"async\" src=\"http:\/\/feedads.g.doubleclick.net\/~a\/7aGSw-JGmp_apvz5lJdAPPgBDRc\/1\/di\" border=\"0\" ismap=\"true\"><\/img><\/a><\/p>\n<div class=\"feedflare\">\n<a href=\"http:\/\/feeds.feedburner.com\/~ff\/greensheet?a=DzQSH6Aaajc:ewrpYAcjsmc:yIl2AUoC8zA\"><img decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~ff\/greensheet?d=yIl2AUoC8zA\" border=\"0\"><\/img><\/a> <a href=\"http:\/\/feeds.feedburner.com\/~ff\/greensheet?a=DzQSH6Aaajc:ewrpYAcjsmc:F7zBnMyn0Lo\"><img decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~ff\/greensheet?i=DzQSH6Aaajc:ewrpYAcjsmc:F7zBnMyn0Lo\" border=\"0\"><\/img><\/a> <a href=\"http:\/\/feeds.feedburner.com\/~ff\/greensheet?a=DzQSH6Aaajc:ewrpYAcjsmc:V_sGLiPBpWU\"><img decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~ff\/greensheet?i=DzQSH6Aaajc:ewrpYAcjsmc:V_sGLiPBpWU\" border=\"0\"><\/img><\/a> <a href=\"http:\/\/feeds.feedburner.com\/~ff\/greensheet?a=DzQSH6Aaajc:ewrpYAcjsmc:qj6IDK7rITs\"><img decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~ff\/greensheet?d=qj6IDK7rITs\" border=\"0\"><\/img><\/a> <a href=\"http:\/\/feeds.feedburner.com\/~ff\/greensheet?a=DzQSH6Aaajc:ewrpYAcjsmc:gIN9vFwOqvQ\"><img decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~ff\/greensheet?i=DzQSH6Aaajc:ewrpYAcjsmc:gIN9vFwOqvQ\" border=\"0\"><\/img><\/a>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/greensheet\/~4\/DzQSH6Aaajc\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you figure a giant oil multinational is a good proxy for the global economy, then Shell&#8217;s latest report won&#8217;t be too comforting. The company reported a Q4 profit of $1.96 billion, but the company&#8217;s refining business is still getting killed on weak end-customer gasoline demand. And so it intends to cut another $1 billion [&hellip;]<\/p>\n","protected":false},"author":810,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-275173","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/275173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/810"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=275173"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/275173\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=275173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=275173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=275173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}