SMcoolJ Posted January 7, 2015 Share Posted January 7, 2015 Apology accepted. Quote Link to comment Share on other sites More sharing options...
Orraloon Posted January 7, 2015 Share Posted January 7, 2015 That's already been covered. I'm pretty sure Peston reads the TAMB. Which user name do you think he uses? Quote Link to comment Share on other sites More sharing options...
saintlyscot Posted January 7, 2015 Share Posted January 7, 2015 I would imagine the loss in tax receipts to the treasury will be greater than the boost to gdp through lower costs. More broken spending and borrowing projections. Osborne must be bricking it. Quote Link to comment Share on other sites More sharing options...
Orraloon Posted January 7, 2015 Share Posted January 7, 2015 I would imagine the loss in tax receipts to the treasury will be greater than the boost to gdp through lower costs. More broken spending and borrowing projections. Osborne must be bricking it. We are a net importer of oil and gas. Overall a lower oil price helps the UK economy. It's not great for folk working in the oil industry obviously, but most of them are wealthy enough to ride it out. Oil and gas revenues contribute less than 1% to the overall revenue take of the treasury. Osborne has bigger things to worry about than reduced oil revenues. Quote Link to comment Share on other sites More sharing options...
G-Man Posted January 7, 2015 Share Posted January 7, 2015 (edited) I'm pretty sure Peston reads the TAMB. Which user name do you think he uses?Fud.Edited to say that's his user name not you. Although others may call you it I never have. Well once, but I was on the baileys. Edited January 7, 2015 by G-Man Quote Link to comment Share on other sites More sharing options...
Orraloon Posted January 7, 2015 Share Posted January 7, 2015 Fud. Edited to say that's his user name not you. Although others may call you it I never have. Well once, but I was on the baileys. I wish I'd read that before you edited it. Quote Link to comment Share on other sites More sharing options...
The Laud Posted January 7, 2015 Share Posted January 7, 2015 Saw the odious sarwar speaking in parliment to cameron about the low oil price and laughing about the snp figures pre referendum on price.But the worst thing of all was another red tory donahue i think hes called roaring and laughing behind him Quote Link to comment Share on other sites More sharing options...
scotlad Posted January 7, 2015 Share Posted January 7, 2015 Saw the odious sarwar speaking in parliment to cameron about the low oil price and laughing about the snp figures pre referendum on price.But the worst thing of all was another red tory donahue i think hes called roaring and laughing behind him That's probably Brian Donahue. Horrible guy. Quote Link to comment Share on other sites More sharing options...
biffer Posted January 8, 2015 Share Posted January 8, 2015 There's another avenue for Oil and Gas workers which wasn't really so available the last time the industry hit the buffers - Renewables, particularly offshore wind. The renewables industry has had a huge amount of difficulty recruiting experienced engineers as they're all hoovered up by O&G. The wages won't be quite the same as the rigs, but there's likely to be an increasing amount of offshore work as the third round of offshore licenses are granted this year. Quote Link to comment Share on other sites More sharing options...
johnnie x Posted January 8, 2015 Share Posted January 8, 2015 Do these doughnuts not realise the price will go back up? Quote Link to comment Share on other sites More sharing options...
FuNsTeR Posted January 8, 2015 Share Posted January 8, 2015 the UK's balance of payments is dependent on our Oil, Gas and Whisky ..... the funny thing is Cameron was basing oil prices on being $134 a barrel before the referendum Scotland's economy is not reliant on oil compared to the UK as a whole as our economy is more diverse Quote Link to comment Share on other sites More sharing options...
jockodile Posted January 9, 2015 Share Posted January 9, 2015 Oh...never thought of that...something to look forward to. I spoke to a few soft no voters about this when I was over on holiday last month. On That day in 2016 when the flag would have come down from Edinburgh castle and fireworks would have gone off in every town and city across the country would for each Scot, local or expat,young or old, left wing or rightwing, male or female and a million other differences be a defining day of our lives. The looks on their faces that they lost this most special moment because of believing downright lies from Better Together on pensions, currency or devomax was so sad. Next time. Quote Link to comment Share on other sites More sharing options...
Toepoke Posted January 9, 2015 Share Posted January 9, 2015 Being discussed on Morning Call today. From the audience responses I heard most people don't seem to be swallowing the line from UK politicians about it highlighting the folly of Scottish self determination... H Quote Link to comment Share on other sites More sharing options...
johnnie x Posted January 9, 2015 Share Posted January 9, 2015 What is the inverse of a price bubble? Quote Link to comment Share on other sites More sharing options...
fishcumnock Posted January 9, 2015 Share Posted January 9, 2015 A black hole ? Quote Link to comment Share on other sites More sharing options...
vanderark14 Posted January 9, 2015 Share Posted January 9, 2015 (edited) Anyone seen Jackie baillies tweet this week? In August she said setting up an oil fund would take money away from public services and had a link to the BT website .......... Now the wants to setup an oil fund http://wingsoverscotland.com/the-goldfish-principle/ Edited January 9, 2015 by vanderark14 Quote Link to comment Share on other sites More sharing options...
Mee Posted January 12, 2015 Share Posted January 12, 2015 48.70 dollars today. I thought it cost more than that to get it out the ground on average Quote Link to comment Share on other sites More sharing options...
hampden_loon2878 Posted January 12, 2015 Share Posted January 12, 2015 48.70 dollars today. I thought it cost more than that to get it out the ground on average Depends which field you are working, i heard the buzzard can go down to 25 dollars the barrel and still turn a profit other installations like the heather,thistle,claymore ect would require a high oil price to remain viable,,,, the first thing to be effected is drilling and exploration which then has knock on effects for the future Quote Link to comment Share on other sites More sharing options...
Clyde1998 Posted February 2, 2015 Share Posted February 2, 2015 Slowly starting to rise again: Quote Link to comment Share on other sites More sharing options...
phart Posted February 2, 2015 Share Posted February 2, 2015 (edited) Slowly starting to rise again: With the death of the Saudi leader, the new king King Salman bin Abdulaziz al-Saud has put his own son as the 2nd in command in the ministry of oil, so maybe a change of policy with a change of head of state. https://twitter.com/Anas_Aljumaily Edited February 2, 2015 by phart Quote Link to comment Share on other sites More sharing options...
Toepoke Posted February 24, 2015 Share Posted February 24, 2015 (edited) Worst annual performance in 40 years http://m.bbc.co.uk/news/uk-scotland-scotland-business-31590604 Edited February 24, 2015 by Toepoke Quote Link to comment Share on other sites More sharing options...
Robroysboy Posted February 24, 2015 Share Posted February 24, 2015 Whats the chances for the oil price to drop even further ? Is a £1 a litre for diesel possible in the near future ? Quote Link to comment Share on other sites More sharing options...
Flora MaDonald Posted February 25, 2015 Share Posted February 25, 2015 Archer laying off 400 staff - most in Aberdeen. Quote Link to comment Share on other sites More sharing options...
Orraloon Posted February 25, 2015 Share Posted February 25, 2015 Oil companies are using "low" ish oil prices as a big stick for negotiations with the government and with their own workforces. Even at $50 (it might go lower) it is still almost double the historic averages over the last 70 years (adjusted for inflation). The price has only been higher since the spike in 2005. I think the average price for a year has only been over $100 in one year out of the last 70 and that was only by a few cents. Oil is getting harder to get out of the ground but there is still plenty of it. Quote Link to comment Share on other sites More sharing options...
ShedTA Posted February 25, 2015 Share Posted February 25, 2015 Read an article the other day that said oil would soon rebound and will go higher than ever due to the current lack of investment being made due to the low oil price. wonderful. Quote Link to comment Share on other sites More sharing options...
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