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Surley folk that work in oil make a decent amount and therefore should have had the sense to save some of it?

Not sure folk are aware of just how expensive it is to live in Aberdeen. The wages are good but the cost of living is high. Look at house prices.

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There's also the assumption that these peoples employers have been honest with them. My Mrs has a friend from inverurie who's husband was told last summer his job was not in danger. In December last year he was told his job was safe until at least July 2016... He lost his job on Monday.

They don't live extravagant lifestyles, but they will struggle now. As per in Britain, fingers are pointing in the wrong direction.

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Not that much of the new resources are unknown. They're now economically recoverable due to new technologies.

Abiotic oil is another pseudoscience argument pushed by creationists / neocons. Can you explain any rational mechanism by which it would work? Without being wishy washy.

What a nutcase you are seriously.

https://en.wikipedia.org/wiki/Abiogenic_petroleum_origin

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Was it someone on here who raised the question how come we faced a world economic crisis when OPEC jacked up the price of oil but now again when it falls back down? Make your fecking minds up.

Aye, it was. :ok:

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Wow that is pretty bad considering this is just the start of it... Number of houses on the market since the same time last year up 133%!

There are going to be a lot of folk in negative equity I would think. The prices in Aberdeen had bubble written all over them and this could be the big pop.

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There's also the assumption that these peoples employers have been honest with them. My Mrs has a friend from inverurie who's husband was told last summer his job was not in danger. In December last year he was told his job was safe until at least July 2016... He lost his job on Monday.

Standard management technique.

Rule number one - take everything your boss tells you with a huge pinch of salt.

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Standard management technique.

Rule number one - take everything your boss tells you with a huge pinch of salt.

I take everything I say with a truckload of salt!

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Standard management technique.

Rule number one - take everything your boss tells you with a huge pinch of salt.

^^^

I never believe them when they come out with stuff like that - they'd pull the plug without a moment's hesitation if they thought it 'necessary'.

Edited by Charlie Endell

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I think I might buy shares in salt?

Have you considered video games? Massive profits and an exploited workforce... A capitalists dream.

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Can you explain any rational mechanism by which it would work? Without being wishy washy.

Using diamond anvil high pressure cells... or in other words in the conditions provided by the upper mantle.

Now if you asked was all hydrocarbons produced this way, i'd say no, but since you just want the mechanism, it exists.

"There is widespread evidence that petroleum originates from biological processes. Whether hydrocarbons can also be produced from abiogenic precursor molecules under the high-pressure, high-temperature conditions characteristic of the upper mantle remains an open question. It has been proposed that hydrocarbons generated in the upper mantle could be transported through deep faults to shallower regions in the Earth's crust, and contribute to petroleum reserves. Here we use in situ Raman spectroscopy in laser-heated diamond anvil cells to monitor the chemical reactivity of methane and ethane under upper-mantle conditions. We show that when methane is exposed to pressures higher than 2GPa, and to temperatures in the range of 1,000-1,500K, it partially reacts to form saturated hydrocarbons containing 2-4 carbons (ethane, propane and butane) and molecular hydrogen and graphite. Conversely, exposure of ethane to similar conditions results in the production of methane, suggesting that the synthesis of saturated hydrocarbons is reversible. Our results support the suggestion that hydrocarbons heavier than methane can be produced by abiogenic processes in the upper mantle."

http://adsabs.harvard.edu/abs/2009NatGe...2..566K

Edited by phart

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you can argue that with any job,,, no job is certain,,, a lot of the hostility is being directed towards offshore workers and its due to jealousy i have no doubt,,,, i did a six year apprenticeship and worked for peanuts for years,i also put myself through collage at nights,, i have not been handed anything and have had to work for it...i am sick fed up hearing we are over paid

Are there really people working in that industry who didnt realise it was a volatile commodity? Being FINITE and all? Seriously? Does nobody wonder why they're getting paid over the odds for what they do?

I'm sorry for those people, it must be a horrible situation to be in, but it wasn't impossible to imagine.

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I read a russian report on the theory,,, very interesting and convincing,, i put it to a freind who is in the exploration sude of the industry and he basically said its anyones guess how it formed,,, he did say that oil is found at greater depths than organic matter is found so that its self tells a story

Using diamond anvil high pressure cells... or in other words in the conditions provided by the upper mantle.

Now if you asked was all hydrocarbons produced this way, i'd say no, but since you just want the mechanism, it exists.

"There is widespread evidence that petroleum originates from biological processes. Whether hydrocarbons can also be produced from abiogenic precursor molecules under the high-pressure, high-temperature conditions characteristic of the upper mantle remains an open question. It has been proposed that hydrocarbons generated in the upper mantle could be transported through deep faults to shallower regions in the Earth's crust, and contribute to petroleum reserves. Here we use in situ Raman spectroscopy in laser-heated diamond anvil cells to monitor the chemical reactivity of methane and ethane under upper-mantle conditions. We show that when methane is exposed to pressures higher than 2GPa, and to temperatures in the range of 1,000-1,500K, it partially reacts to form saturated hydrocarbons containing 2-4 carbons (ethane, propane and butane) and molecular hydrogen and graphite. Conversely, exposure of ethane to similar conditions results in the production of methane, suggesting that the synthesis of saturated hydrocarbons is reversible. Our results support the suggestion that hydrocarbons heavier than methane can be produced by abiogenic processes in the upper mantle."

http://adsabs.harvard.edu/abs/2009NatGe...2..566K

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As a non oily or even related, I look forward to being able to buy a house in Aberdeen and cut down on my 3 hour commute per day.

My house was valued last year for remortgage purposes as increased 15-20% what I paid in 2013. Expecting that to have dropped to be at zero, but if I can get a 2014 300k house in Aberdeen for half that, I'm not bothered about losing on my house. Buy some life back and cut down travel cost.

BTW I've family and friends in the industry, they ain't worried on the whole. They've jobs lined up overseas standard rota but in middle East, instead of North Sea. One guy had to take an 8 week on /off in stavanger, nearest hardship I've heard.

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No its not back to normal,,,it was nothing like this when it was this price back in 2004

I think he is saying that the price is back to normal. The reaction of the oil companies may be different. But that's not surprising. Back in 2004 the oil price had been at around $30 for about 2 decades. It is the drop in price that the oil companies have reacted to.

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you can argue that with any job,,, no job is certain,,, a lot of the hostility is being directed towards offshore workers and its due to jealousy i have no doubt,,,, i did a six year apprenticeship and worked for peanuts for years,i also put myself through collage at nights,, i have not been handed anything and have had to work for it...i am sick fed up hearing we are over paid

I dont know about you personally but on most metrics (probably all) oil workers in general are overpaid for what they do. Part of that is due o the uncertain ature of thise jobs. Anyone who denies it has some kind of misguided sense of entitlement.

I could earn at least twice as much doing what I do in the oil industry or financial sector but I couldn't assume i'd have a job in 10 years like I can now (maybe in finance I could but that's a whole other messed up story).

I'm sorry that this opinion always seems to tick off the oil workers though!

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Aye in most engineering jobs in Scotland £30-40k is decent money.

Would oil workers take a cut if it meant more job security?

£30-40k is an engineers starting salary.

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Mate of mine is a sparky on a rig, and was on over £50k at the very least for two weeks on/three off, plus bonus, before the price collapsed, and now is two on/ two off, and had a 20% cut in pay. still no bad money though.

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£30-40k is an engineers starting salary.

What kind of engineer? The term gets a bit overused in the UK where the boy who comes to put the satellite on the wall is called an engineer. Is he on 30-40k?

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What kind of engineer? The term gets a bit overused in the UK where the boy who comes to put the satellite on the wall is called an engineer. Is he on 30-40k?

He's not an engineer.

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