Email of the day
Comment of the Day

April 05 2017

Commentary by David Fuller

Email of the day

On job security over Brexit:

I am a professional gas and oil trader and see the impact on the industry and other related areas, most of it related to the changes with regards to a future Brexit that has not even happened yet. It made me wonder even last year when people who work in this industry argued (viciously even) - before the June referendum - in favor of it; people who will certainly lose their jobs over the next 2 years (aside the possibility of relocating to a EU country) from what I can see already happening.

Of course there are other aspects, but it would be quite hard to find positive aspects in terms of employment and opportunities for the industry I am working in at least.

These are hard facts and the arguments I am reading are pretty soft i.e. independence. Just some thoughts...

Best regards

Herbert (German national currently located in Vienna Austria)

David Fuller's view

Many thanks for your important email.

Yes, there is considerable uncertainty, including for international traders in your position.  Responsible corporations will inevitably have various contingency plans.  Sensible people hope that the UK and EU will be able to agree on a mutually beneficial Brexit but we cannot count on this. Brexit is a development in progress. 

We know that the UK will leave the EU but we do not know what the terms of separation will be. Nevertheless, I see no reason why oil and gas trading will diminish anytime soon.  Moreover, successful multinational traders such as yourself will remain in demand.

Good luck and let me know how this plays out for you.

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