That Grangemouth Strike

So, strike at a refinery, shortages of fuel on the way.

Nicol Stephen, leader of the Lib Dems, claimed that ministers were "pretending" they had secured ample supplies of fuel. He also raised the issue of retailers increasing prices at the pumps because of the threat of shortages.

Erm, yes, that\’s what retailers are supposed to do. Remember that supply equals demand at a particular price. Thus if supply is curtailed, prices should rise to balance demand and supply again. The alternative is rationing and allocation: look at the US during the two oil shocks to see where that gets you.

Our Nicol clearly comes from the dim Dem side of the party, not the Liberal.

8 thoughts on “That Grangemouth Strike”

  1. BTW, does anyone know whether the Grangemouth strike is:
    1) workers having their final salary pensions abolished;
    2) existing workers keeping their final salary pensions but new workers not getting to join the scheme?

    I’ve seen a couple of reports that imply 2, in which case it’s the most appallingly unjustifiable strike ever and I’m tempted to suggest it should be illegal. If it’s 1, fair enough – massive cuts in total effective compensation are a Bad Thing…

  2. Johnb,

    I think it started out as (1) but then the company gave in and suggested (2) – but that wasn’t good enough for the union… But don’t take my word for it that’s just based on news reports for hte last few days…

    Z.

  3. Hmm, I guess if the company started with 1 then the union might be sceptical of their intentions when they suggest 2.

    Still, massive f**-up all round. Just goes to show the benefits of shareholder/private equity ownership – there’s no way in hell a company owned by outside shareholders (Ineos is owned by the CEO) would have let things get this far…

  4. Survival of the fittest is king eh gents? Ive met your sort many times, two of your rank have now had a disabled child. It was interesting to see they’re views change..almost overnight! Sorry gents, but contrary to popular belief it doesn’t take brains to be cynical and smug.
    Long live compassion and understanding!
    Eddie Stoner
    Southampton
    Hants
    UK

  5. As a retired manual worker my sympathies are open to both sides… Maybe if the Country knew the average wage of these people. We may be able to decide,who to support.

  6. Well done the strikers. How can anyone claim the pension costs are unaffordable when the profits are as high as they are. Greedy owners and probable high bonus for the plant director when he screws the little man.

  7. But what about this situation is different from every other final salary scheme that has ended.
    I agree with Angela, it must hurt more when the company is so rich, but it has happened to all of us. I find it hard to feel that the workers have been treated unfairly.

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