North Sea oil industry

JockoJocko Posts: 7,046Member, Moderator
edited August 2016 in Totally Not Guitars
North Sea oil industry 'close to collapse'I don't think so. According to a senior oil industry spokesperson, the recent drop in oil prices has led to a near collapse of the industry. Just because world wide oil prices have dropped it still doesn't stop the oil industry from raking in billions in profit. They may not want to invest much at the moment  but close to collapse it isn't. 

Comments

  • Reg SoxReg Sox Posts: 3,121Member

    Very true.  The bulk of our cost of consumption is tax.  And a lot of that is fixed rather than percentage as well.  Oil is a tradable commodity and it's price bears absolutely zero relation to the cost of production.

     

    Cheers, Reg.

  • Kevin PeatKevin Peat Posts: 3,144Member

    Remember the 'Fuel Duty Stabilizer', which sets Fuel Duty to rise automatically in the event that the price of oil falls below $75.

     

    Thank George Osborne for that one. 

  • JockoJocko Posts: 7,046Member, Moderator

    BBC were doing more scaremongering this morning, and spoke to an industry "heid yin" and a member of Aberdeen Chamber of Commerce and neither of them would back up the BBC's stance, that we are all going to hell in a handcart. In fact the industry man said we had been down the same road, twice before in the last 20 years, and they just dealt with it. Price fluctuations are just part of the business of selling oil.

  • MegiMegi Posts: 7,153Member

    To be fair to the BBC, there is this article on their webpage now http://www.bbc.co.uk/news/business-30545300 . And they have just reported what various people in the industry have said, they don't claim any particular view of their own.

     

    Of course, there could be some selection of what/who to report going on, and I perhaps I would see things very differently were I living in Scotland, and was independence minded. But I somehow don't think that any bias is a big as is claimed, and it is a fact that oil prices are now at their lowest for some considerable time - that surely will lead to legitimate comment and discussion, which should be reported in the news.

  • JockoJocko Posts: 7,046Member, Moderator

    The BBC report now, is after Sir Ian Wood refused to acquiesce to their doom and gloom scenario, on this mornings news. I don't feel it is a Independence issue - not now - but it shows the BBC news is following the red banner newspapers, in putting sensationalism before fact.

  • MegiMegi Posts: 7,153Member

    This is the original article I saw on the Beeb website,

     

    http://www.bbc.co.uk/news/business-30525539

     

    ...in which it is made clear that it was Robin Allan, chairman of the independent explorers' association Brindex - who was claiming that the North Sea oil industry is close to collapse. The BBC themselves never said that was their opinion - they were just reporting that such fears existed, and giving the views of an industry insider. I would defend their right to do that, to be honest.

     

    And since that opinion has been expressed, and reported, other contradicting views have been put forward, and the BBC has reported those as well. So I simply don't see the bias that you claim. But perhaps we'll have to agree to differ...

  • MegiMegi Posts: 7,153Member

    FWIW, I do agree with you that the NS Oil industry is not close to collapse Jocko.

  • Mark PMark P Posts: 2,314Member
    Originally Posted by Jocko:

    but it shows the BBC news is following the red banner newspapers, in putting sensationalism before fact.

    In terms of radio / TV they (including the BBC) do tend to have "sensational headline", followed by more detailed item (as far as possible in 2 or 3 minutes) that maybe has a balance of views but ending with a repeat of the "sensational headline" in some way. The result being that listeners / viewers tend to remember only that headline. I fell into that trap myself for long enough, and it came as a shock to see how I was being manipulated by the news media - particularly by what I'd thought of as a more professional outfit like the BBC.

     

    I've also noticed that the launch of an unbalanced report with the "sensational headline" is high up in the running order on the news programme and if there is then a follow up taking a more balanced or opposite view a day or two later it is often much further down the running order. So a balanced view has sort of been allowed, but the emphasis placed on the differing views means it really hasn't.

     

    Give it time and we'll have reached the levels of Fox News over here. Not too far to go.

  • MegiMegi Posts: 7,153Member

    Not saying the Beeb is perfect, but it doesn't seem like that to me Mark. Anyway, we don't agree - that's fine really. image

  • JockoJocko Posts: 7,046Member, Moderator

    Another thing the BBC does,that really gets my goat, is leading with a news story, which turns out to be a trailer for Panorama, later that day. They may be important issues but they are not news.

  • Mark PMark P Posts: 2,314Member
    Originally Posted by Megi:

    Not saying the Beeb is perfect, but it doesn't seem like that to me Mark. Anyway, we don't agree - that's fine really.

    No problem here Graham!

     

    It's really all a bit like noticing a slight flaw in the sound of a favourite guitar. Once concious of it then it's impossible not to hear it, and it becomes a major irritant even if it's only minor in effect, and even if no-one else hears it. Then the only cure is to sell the damn thing ... I've worn that T-shirt!

     

    In this case the irritant has become so major I've almost completely given up on TV and radio news entirely this last few months, and were it not for the occasional good music program and MOTD I'd be seriously considering jacking in the licence fee. Probably on at the most 3 hours live viewing a week now - if I had the patience to wait for watching on catch up and not live I'd have gone no-licence already.

     

    Good point about trailers masquerading as news Jocko. The more the media outlet becomes commercialised the more this will happen of course. Also the more commercialised the media outlet becomes the more their commercial agenda will dictate the views that will be implicitly and explicitly aired. The perils of the Green Manalishi.

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