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> This took the total capital spending down from around US$40 billion to around US$25 billion. Further reports stated that even this US$25 billion figure was re
by Karrot_Kream 5y ago
> This took the total capital spending down from around US$40 billion to around US$25 billion. Further reports stated that even this US$25 billion figure was reduced by another US$5 billion, taking the total capital spending in the year from US$25 billion to US$20 billion. However, every second of every day of every month of every year - whatever Aramco does, whatever it sells, whatever it cancels, whatever it cuts back, however many people it sacks – the meter keeps on running, adding US$205 million every day
Notice the convenient change of units between billions and millions there which makes this seem much worse than it actually is. I also didn't realize Oilprice's bias, but seeing that change of units certainly warned me.
- jsnell 5y agoThe dividend "millions" are per day. The capital spending "billions" are per year. We'd already repeatedly been told that the dividends were 75 billion per year.
- wavefunction 5y agoWhat would you have preferred, US$0.205 billion every day?
- mioasndo 5y agoWell it goes from billion/year to million/day, which is actually closer to billion/year than billion/day. It's also a more natural way of writing it than $0.205 billion. I doubt they indented people to miss the change in units and assume aramco was losing $205 billion per day.