Can't see oil going up for some considerable time to come which is pretty much what most experts think albeit they were probably the same folk denying it would drop in the first place. When/if it does rise to silly money (as it has been for many years), a by product of fracking is highly likely to keep the lid on prices. Simply put horizontal drilling has revealed some unrealised positives. Curiously I'm still seeing certain oil/gas companies investing and remarkably Saudi building a brand new refinery and a large one at that. I'm sure Iran will only serve to further pressurise other oil/gas producing nations.
Oil Prices
- Thread starter Stark
- Start date
Saudi finance minister said on TV in the Middle East last week that the objective has nearly been achieved, that is - 60% of domestic fracking companies have already now gone bust.
They did the same in 1986 - they wiped out the domestic mom and pop drilling operations in the US.
He also said they need to recover the revenue lost due to the low prices.
Huge amounts of money is changing hands at this very moment, oil futures, company take overs etc ....... this is how the rich people get even richer ......
bring it on ........ oh yes, 10 mpg in my Jeep lol
They did the same in 1986 - they wiped out the domestic mom and pop drilling operations in the US.
He also said they need to recover the revenue lost due to the low prices.
Huge amounts of money is changing hands at this very moment, oil futures, company take overs etc ....... this is how the rich people get even richer ......
bring it on ........ oh yes, 10 mpg in my Jeep lol
mattwaltersz4m
Member
teamemmenracing said:
Is it nice on cloud cuckoo land? Its about time that these oil companies and the contractors riding the gravy train got it in the arse and are brought back down to earth. A flood of high end motors up for sale in Scotland soon... 
By the seaside...
Given the recent oil price slump, it's somewhat amusing to recall that, only 18 months ago, a big chunk of the SNP's financial argument for independence was based on the 'billions' Scotland would receive from 'their' oil.... and, a month before the referendum, Nicola Sturgeon visited the Shetlands and told residents they were “on the cusp of the second oil boom" - don't think they realised that by 'boom' she meant that it was going to blow up in their faces.....
I wonder what would have been happening about now had the Scots voted 'Yes', as, according to Alex Salmond's timetable for the transition, Independence Day for Scotland would have been in March 2016
I wonder what would have been happening about now had the Scots voted 'Yes', as, according to Alex Salmond's timetable for the transition, Independence Day for Scotland would have been in March 2016
mattwaltersz4m
Member
PerryGunn said:
An extremely lucky escape! Would have been brilliant to see the Scotch come cap in hand
Can't tell you how much I laughed at our new Scottish MD who like Sturgeon seriously believed oil and gas was going to be Scotland's saviour and in his eyes, our company too. All wrong and if he cared to read a newspaper he might have picked up a few clues.
I suspect fracking may well have taken a hit but without a shadow of doubt it could return in an instant. Again various on shore wells I deal with are still investing and clearly still making money. When there is easy access your input/output figures can still make it viable as is being proved. North Sea isn't however one of those.
I suspect fracking may well have taken a hit but without a shadow of doubt it could return in an instant. Again various on shore wells I deal with are still investing and clearly still making money. When there is easy access your input/output figures can still make it viable as is being proved. North Sea isn't however one of those.
Yeh, I saw lots of Aston Martins and Porsche`s in Aberdeen the last time I was there.mattwaltersz4m said:Its about time that these oil companies and the contractors riding the gravy train got it in the arse and are brought back down to earth. A flood of high end motors up for sale in Scotland soon...
Maybe I could pick up a bargain
love a good political blast
Obviously blissfully unaware of a few important points .......
Government revenue from scottish whiskey, just saying like, accounts for 25% of all UK food revenues and for some strange reason, its classified as english revenue .....
its called creative accounting.
With no grand nuclear bollox to support, Scotland would be several billion better off
Revenue per head in Scotland is the 2nd highest in Europe .......
Reality is, just like Denmark, with no oil revenue at all ....... Scotland would do quite well on its own .........
Answer me this, if Scotland was such a drain on the UK economy as the government claims, why on earth did they go to such lengths to stop Independence ? ........... forgetting of course that more than 50% of the land mass in Scotland is owned as estates by English Toffs who pay no land taxes whatsover whilst joe blow has to pay council taxes on his wee semi detached.
I do love a good rant ...........
oh yes ..... I nearly forgot, did nobody mention that had Scotland become independent, plans had already been approved to downgrade Englands credit rating ........
I shall prepare myself for a beating .......
........... and got this from an english newspaper ......
The MoD has revealed that the safety arrangements for Devonport do not permit the presence of submarines carrying Trident nuclear warheads. The MoD's safety experts are not considering changing that.
The problem is that the dockyard is in a densely populated area and, if there were an accident, thousands of people would be at risk. The worst accident scenario envisaged by the MoD would kill up to 11,000 people in Plymouth and would not meet the official criteria for what is acceptable, according to a new report.
Having them in Scotland is ok then .........
Obviously blissfully unaware of a few important points .......
Government revenue from scottish whiskey, just saying like, accounts for 25% of all UK food revenues and for some strange reason, its classified as english revenue .....
its called creative accounting.With no grand nuclear bollox to support, Scotland would be several billion better off
Revenue per head in Scotland is the 2nd highest in Europe .......
Reality is, just like Denmark, with no oil revenue at all ....... Scotland would do quite well on its own .........
Answer me this, if Scotland was such a drain on the UK economy as the government claims, why on earth did they go to such lengths to stop Independence ? ........... forgetting of course that more than 50% of the land mass in Scotland is owned as estates by English Toffs
who pay no land taxes whatsover whilst joe blow has to pay council taxes on his wee semi detached.I do love a good rant ...........
oh yes ..... I nearly forgot, did nobody mention that had Scotland become independent, plans had already been approved to downgrade Englands credit rating ........
I shall prepare myself for a beating .......
........... and got this from an english newspaper ......
The MoD has revealed that the safety arrangements for Devonport do not permit the presence of submarines carrying Trident nuclear warheads. The MoD's safety experts are not considering changing that.
The problem is that the dockyard is in a densely populated area and, if there were an accident, thousands of people would be at risk. The worst accident scenario envisaged by the MoD would kill up to 11,000 people in Plymouth and would not meet the official criteria for what is acceptable, according to a new report.
Having them in Scotland is ok then .........
teamemmenracing said:
25% is a nice statistic, but when you put it in context it means nothing, sure - take your whisky exports.. £1.2bn a year - nice! But put it next to the total UK exports of around £500bn? Not so important.
Trident? Yep - you'd save a few billion maybe, but ratings agencies already confirmed a loss of nuclear firepower would immediately impact Scotland's credit rating - which would already of dropped heavily from being removed from the UK and thus the EU. Foreign investment in a country with a rating starting with a B? You're going to need more than a few billion to fix that.
A quick look into Revenue per capita in Scotland suggests it's heavily driven by Financial services (see above why that might suck after a yes vote), Manufacturing exports (again, see above), Defence and shipbuilding? Well.. if you want to cull the trident rebuild, that's a wedge of cash that wont be going to Scotland, likewise the defence exports are sold through UK and EU trade deals that Scotland wouldn't have.
Oil is a tricky one, for some reason they ignore it in per capita revenue calculations, but it's included in Scotland's total GDP (which i think is around 10-12% of UK GDP). I'm not sure of the make up - but if you assume that a healthy chunk, i mean.. a LOT of it is oil based - and oil is now 1/5th of what it was and likely to drop further - i can't help but think it would affect things somewhat.
Don't forget, we all get brainwashed on both sides of the border - the people campaigning for independence have the most to gain (SNP), who don't seem to be doing a brilliant job of running things as it is. I'm not sure the SNP is to thank for Scotland's decent revenue figures, so god knows why there's so many people wanting them to run things going forward with a short and not-too-successful management run thus far.
The beauty of the UK is the diverse breadth of the economy we have, being solely reliant on Whisky exports (when the world is overtaking Scottish whisky in rankings) and at a time when oil is down, leaves Scotland heavily exposed, thus able to rely on other earnings within the UK. Sure in glory days Scotland theoretically is a big earner, but so could be said for British Steel, Mining, Manufacturing etc in their respective 'good times'.
Personally i'm more concerned about the effect our EU membership is having on our Economy and Society.
Disclaimer: Most of the above is from what i can remember of my research whilst sat on a Scottish beach during the referendum week - my memory is terrible thus i probably have some things wrong
Liked that.teamemmenracing said:love a good political blast
Obviously blissfully unaware of a few important points .......
Government revenue from scottish whiskey, just saying like, accounts for 25% of all UK food revenues and for some strange reason, its classified as english revenue .....
With no grand nuclear bollox to support, Scotland would be several billion better off
Revenue per head in Scotland is the 2nd highest in Europe .......
Reality is, just like Denmark, with no oil revenue at all ....... Scotland would do quite well on its own .........
Answer me this, if Scotland was such a drain on the UK economy as the government claims, why on earth did they go to such lengths to stop Independence ? ........... forgetting of course that more than 50% of the land mass in Scotland is owned as estates by English Toffs
I do love a good rant ...........
oh yes ..... I nearly forgot, did nobody mention that had Scotland become independent, plans had already been approved to downgrade Englands credit rating ........
I shall prepare myself for a beating .......
........... and got this from an english newspaper ......
The MoD has revealed that the safety arrangements for Devonport do not permit the presence of submarines carrying Trident nuclear warheads. The MoD's safety experts are not considering changing that.
The problem is that the dockyard is in a densely populated area and, if there were an accident, thousands of people would be at risk. The worst accident scenario envisaged by the MoD would kill up to 11,000 people in Plymouth and would not meet the official criteria for what is acceptable, according to a new report.
Having them in Scotland is ok then .........
Everybody just seems to think that oil is the be all and end all.
Im sure it was put during the referendum that having oil would just be the icing on the cake.
