Scottish Referendum / Independence - Vol 6
Discussion
HD Adam said:
Depends how quick Putin caves in and OPEC slows production.
There are only 12 states in OPEC these days. Much as Putin may be an issue the reality is that the USA now produces a lot of their own oil and that goes in addition to others that is not OPEC. The simple reality is that supply now exceeds demand because of the new ways of producing it.gofasterrosssco said:
I think most people are getting a bit excitable about the recent oil price drop, and the supposed decimation this will have on the NS industry and Scotland. Assisted by inevitable "collapse" headlines from various media outlets..
This is most likely the same cyclic pattern that the industry has seen over all the years the NS has been active. Its constantly either booming or going bust.. Same thing happened in 2009 when the oil price was nearer $40. It quickly recovered to double this in a matter of months as global demand perked up a bit.
So there's no reason to say the same may not happen again. To an extent, some form of cost control is a good thing, as the industry was quickly pricing itself out of competitiveness anyway, given cost of extraction and maintenance..
The more serious issue may be if demand, and therefore price doesn't pick up in the next couple of years, as its over this timescale that we would see real issue in the feasiblity of large parts of the NS..
No doubt the Nats will perk back up again once the sector is on the up again..
But this price shift has different causes, it's far more that the Saudis are pumping more oil and less of a case of slowdown in demand.This is most likely the same cyclic pattern that the industry has seen over all the years the NS has been active. Its constantly either booming or going bust.. Same thing happened in 2009 when the oil price was nearer $40. It quickly recovered to double this in a matter of months as global demand perked up a bit.
So there's no reason to say the same may not happen again. To an extent, some form of cost control is a good thing, as the industry was quickly pricing itself out of competitiveness anyway, given cost of extraction and maintenance..
The more serious issue may be if demand, and therefore price doesn't pick up in the next couple of years, as its over this timescale that we would see real issue in the feasiblity of large parts of the NS..
No doubt the Nats will perk back up again once the sector is on the up again..
I don't know why the Saudis have decided to produce so much oil, it may be to stick one to Iran, one of their long term adversaries, or it may be to choke off new supplies of oil and gas, such as from the USA. Until the Saudi's motivation becomes clear it's difficult to know how long we'll have low oil prices for.
I don't the US is going to stop shale oil production even if the oil price stays low.
For the US, this isn't just about the economics. It is about energy security and reducing/ removing the dependence on the Middle East and all the crap that goes with that region. Having to produce shale oil at an uneconomic level is still much cheaper than paying for an occupying invasion of an Arab state.
For the US, this isn't just about the economics. It is about energy security and reducing/ removing the dependence on the Middle East and all the crap that goes with that region. Having to produce shale oil at an uneconomic level is still much cheaper than paying for an occupying invasion of an Arab state.
The wily old fox is smacking his lips in anticipation of being in the middle of the henhouse
http://www.theguardian.com/politics/2014/dec/19/sa...
http://www.theguardian.com/politics/2014/dec/19/sa...
simoid said:
Wonder what his conditions would be. Shirley not independence related...
No Trident renewal. http://www.bbc.co.uk/news/uk-scotland-scotland-pol...
No way they will get that though. They will probably end up settling with more tax raising powers and more borrowing powers.
BlackLabel said:
No Trident renewal.
http://www.bbc.co.uk/news/uk-scotland-scotland-pol...
No way they will get that though. They will probably end up settling with more tax raising powers and more borrowing powers.
I am sure the welsh would be fhttp://www.bbc.co.uk/news/uk-scotland-scotland-pol...
No way they will get that though. They will probably end up settling with more tax raising powers and more borrowing powers.
king delighted to host tridentI think westminster should pull all military spending out of scotland just to keep the nats happy
Rollin said:
A spokesman for Mr Swinney said: “Oil is a bonus, not the basis of Scotland’s economy" 
Well actually since it's magic where, in SNP logic, you could save it and spend it at the same time it makes sense to being able to do both without having to earn it in the first place.Rollin said:
A spokesman for Mr Swinney said: “Oil is a bonus, not the basis of Scotland’s economy"
fk me - It does make you wonder if they actually believe that or not? Or that the sound bite works well for the plebs. For any plebs here the UK decided rather than to increases taxes in the 1970's instead to use oil tax revenue as a component part of the tax receipts. They never changed that policy from then to date.
So the only time it is a "Bonus" is when the oil tax receipts are above the budget forecast be that due to price or volume. If its lower then its a burden the black gold is a burden no matter what the SNP say.
Strocky said:
The wily old fox is smacking his lips in anticipation of being in the middle of the henhouse
http://www.theguardian.com/politics/2014/dec/19/sa...
I see he has also said England should have a people's revolt and do away with the House of Lords.http://www.theguardian.com/politics/2014/dec/19/sa...
Presumably that revolt including the break up of the union would be a bonus "Oh look, England kicked us out."
He really is an odious
.If it comes down to the SNP holding the balance of power, I can actually see the other parties accepting a minority government., rather than having the whole of the UK have another "dance along with Salmond".
Can you imagine the SNP being given key cabinet roles?
Chancellor of the exchequer?
Defence?
Home office?
etc.
Shudder.
Can you imagine the SNP being given key cabinet roles?
Chancellor of the exchequer?
Defence?
Home office?
etc.
Shudder.
Interesting how the oil sector is being considered now for a reduction in tax, one having already been made albeit small.
There have only being 28 wells driven this year, the smallest since in the 1960s and 15 of those to 'determine the size of ones already delivered'.
Of course oil history recently has been:
And employment history is already showing a likelihood reduction of 37,500 working in the area.
Not a time to be reliant on oil.
There have only being 28 wells driven this year, the smallest since in the 1960s and 15 of those to 'determine the size of ones already delivered'.
Of course oil history recently has been:
And employment history is already showing a likelihood reduction of 37,500 working in the area.
Not a time to be reliant on oil.
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