Oil Price

[rob murray]

Oil prices today is as below : predicted wipe out of marginal field work and suspension of ongoing work across many rigs in North Sea, hundreds laid off in ABerdeen by large players ( full time staff jobs ) with key service companies reducing conttacting rates : Ian Wood predicting the North Sea could go the way of coal...ie disappear. What chance has Salmon now got of being elected at the general election and if he is, what creditibility will he have at westminster ie he'll be laughed at - the man who was gambling an entire nations well being on sums which were out by billions. Remember his whole campaign was based on oil revenues raised from $100 a barrel, the low price will not escalate overnight !! So if we were free, we would be totally screwed as revenues would be short by billions. Oh in case I forget, the same idiot championed Scotland as the saudi arabia of renewables : well Polamis went bust a couple of weeks a go and Aquamarine ( both wave power generators ) is now down to a minimum core staff with large redundancies,wave power is practically dead, still at least we have wind farms !To those who voted NO, thank you very very much ! Those who voted YES get down on yer knees and give thanks to the sane amongst us who didnt trust the YES brigade, blatant lies and their big chief.

WTI crude oil : $56.47
Brent crude oil : $59.80

[sids]

Doesn't rule out a big SNP vote.

[tonkatojo]

Oil prices today is as below : predicted wipe out of marginal field work and suspension of ongoing work across many rigs in North Sea, hundreds laid off in ABerdeen by large players ( full time staff jobs ) with key service companies reducing conttacting rates : Ian Wood predicting the North Sea could go the way of coal...ie disappear. What chance has Salmon now got of being elected at the general election and if he is, what creditibility will he have at westminster ie he'll be laughed at - the man who was gambling an entire nations well being on sums which were out by billions. Remember his whole campaign was based on oil revenues raised from $100 a barrel, the low price will not escalate overnight !! So if we were free, we would be totally screwed as revenues would be short by billions. Oh in case I forget, the same idiot championed Scotland as the saudi arabia of renewables : well Polamis went bust a couple of weeks a go and Aquamarine ( both wave power generators ) is now down to a minimum core staff with large redundancies,wave power is practically dead, still at least we have wind farms !To those who voted NO, thank you very very much ! Those who voted YES get down on yer knees and give thanks to the sane amongst us who didnt trust the YES brigade, blatant lies and their big chief.

WTI crude oil : $56.47
Brent crude oil : $59.80

There is always the IMF if we would qualify lol.

[rob murray]

Doesn't rule out a big SNP vote.

Aye I suppose you base that on the very large % increae in SNP membership ? A lot of very scary scenarios have been very quietly avoided by the SNP, but the day of reckoning has come, given the SNP have had minority and absolute power since 2007 they cant blame everything on westminster can they ? Oh the oil melt down and concequences will ceratinly erode the SNP's standing given their crap on $100 a barrel / large tax takes to fuel the land of milk and honey. Surely idiots can see that a YES vote would have pushed us right over ?? Fact : SNP economics behind "freedom" were based on nonsense, and a lot of new SNP members hung up on progressing the freedom agenda will I predict run for cover come 2016.

[sids]

I base it on people not alway voting the way I would vote.

The hard times you predict may make people discontented. Then they may look for a handy scapegoat. The SNP could even go so far as to suggest one.

[rob murray]

I base it on people not alway voting the way I would vote.

The hard times you predict may make people discontented. Then they may look for a handy scapegoat. The SNP could even go so far as to suggest one.

Not a prediction...facts / scapegoat = SNP mis management / lies, ie they have to carry the can, you cannot blame westmister for millions in subsidies paid to now failed wave power companies, mis management of Scottish NHS funds, centralising police / services, frozen council tax ( less local revenues ) and freebies that disproportionaly favour the better off = SNP : fact !

[sids]

Let's see if the SNP reckon they actually can blame Westminster and claim that our problems will still be solved by "freedom."

[sam09]

Let's see if the SNP reckon they actually can blame Westminster and claim that our problems will still be solved by "freedom."

What a total load of crap. Scotland has more to offer than just oil. Lets just wait and see who the Tories blame for the now big black hole in U.K. economy due to the slump in North Sea Oil Revenue.

[Rheghead]

Oil prices today is as below : predicted wipe out of marginal field work and suspension of ongoing work across many rigs in North Sea, hundreds laid off in ABerdeen by large players ( full time staff jobs ) with key service companies reducing conttacting rates : Ian Wood predicting the North Sea could go the way of coal...ie disappear. What chance has Salmon now got of being elected at the general election and if he is, what creditibility will he have at westminster ie he'll be laughed at - the man who was gambling an entire nations well being on sums which were out by billions. Remember his whole campaign was based on oil revenues raised from $100 a barrel, the low price will not escalate overnight !! So if we were free, we would be totally screwed as revenues would be short by billions. Oh in case I forget, the same idiot championed Scotland as the saudi arabia of renewables : well Polamis went bust a couple of weeks a go and Aquamarine ( both wave power generators ) is now down to a minimum core staff with large redundancies,wave power is practically dead, still at least we have wind farms !To those who voted NO, thank you very very much ! Those who voted YES get down on yer knees and give thanks to the sane amongst us who didnt trust the YES brigade, blatant lies and their big chief.

WTI crude oil : $56.47
Brent crude oil : $59.80

The drop in the price of oil would be great for an independent Scotland so long as we are hooked on fossil fuels for our energy and we ignore climate change. If you haven't notice, we live in a pretty sparsely populated country. It is funny that you have framed the failure of the Yes campaign due to the price of oil when we all know the factors for it are outwith Scotland's influence. Even sir Ian Wood says that the contraction of the oil industry in Scotland would be just 10% despite his claims of disaster. Since Scotland has so much more to offer than just oil then an independent Scotland could easily shrug that one off.

Fail. Next...

[sids]

Let's see if the SNP reckon they actually can blame Westminster and claim that our problems will still be solved by "freedom."

What a total load of crap. Scotland has more to offer than just oil. Lets just wait and see who the Tories blame for the now big black hole in U.K. economy due to the slump in North Sea Oil Revenue.

Can "Let's see" really be a total load of crap?

Do you not like seeing?

[Scout]

The drop in the price of oil would be great for an independent Scotland so long as we are hooked on fossil fuels for our energy and we ignore climate change. If you haven't notice, we live in a pretty sparsely populated country. It is funny that you have framed the failure of the Yes campaign due to the price of oil when we all know the factors for it are outwith Scotland's influence. Even sir Ian Wood says that the contraction of the oil industry in Scotland would be just 10% despite his claims of disaster. Since Scotland has so much more to offer than just oil then an independent Scotland could easily shrug that one off.

Fail. Next...

I'm sorry but the SNP was totally relying on oil price for tax. The Whisky industry has seen drop in sales overseas, house tax will go up from April next year making it more expensive for people to sell and buy. Land reform has more tax on fragile industry. If we were independent now be disaster for Scotland.

[Southern-Gal]

I have not read all the thread BUT why has the price of oil suddenly dropped?
Have we all suddenly started using a lot less energy in the middle of the winter? Or are the new measures to divert our energy use to greener types of energy started to affect the price of oil? If this is the case then the European and government plans to reduce our dependence on fossil fuels are working.
Anyone who is daft enough to put all their eggs into the oil basket and not have a back up plan should really not be trying to force everyone else to do the same! So yes I do agree the yes voters should be thanking the no voters for saving their skins as the oil was the yes campaigns biggest asset. Or so they thought!
Does everyone in oil from the bottom to the top expect the money to keep rolling in non stop forever? Wake up and move some of your eggs into greener energy or another field altogether before you go broke.

[Tubthumper]

It's remarkable that, after a period of apparent international business downturn and austerity with record high oil prices, the bottom falls out of the oil market placing Russia in a very bad position, just as they're getting a bit uppity. The 'reasons' for the falling price seem a bit dubious - You'd almost think that the 'free market' was being manipulated.

[sids]

I have not read all the thread BUT why has the price of oil suddenly dropped?
Have we all suddenly started using a lot less energy in the middle of the winter? Or are the new measures to divert our energy use to greener types of energy started to affect the price of oil? If this is the case then the European and government plans to reduce our dependence on fossil fuels are working.
.

Efficiency measures appear to be a minor part of the reasons for the drop in oil price.

Renewables need high oil prices, or they become economic suicide.

Short term, it appears that the main cause of low oil price is World economic downturn and a bit of increased supply from Lybia, among other things that I don't know about. I could Google a bit more!

[sids]

placing Russia in a very bad position, just as they're getting a bit uppity.

Annexing territory is very uppity.

[Rheghead]

I'm sorry but the SNP was totally relying on oil price for tax. The Whisky industry has seen drop in sales overseas, house tax will go up from April next year making it more expensive for people to sell and buy. Land reform has more tax on fragile industry. If we were independent now be disaster for Scotland.

I don't know what world you have been observing but it isn't this one.


A spokesman for Mr Swinney said: “Oil is a bonus, not the basis of Scotland’s economy"

http://www.telegraph.co.uk/finance/o...edictions.html

This is in contrast with the UK economy where the oil is definitely being relied upon and it saved Thatcher's economic woes throughout the 80s.

[Scout]

I don't know what world you have been observing but it isn't this one.


A spokesman for Mr Swinney said: “Oil is a bonus, not the basis of Scotland’s economy"

http://www.telegraph.co.uk/finance/o...edictions.html

This is in contrast with the UK economy where the oil is definitely being relied upon and it saved Thatcher's economic woes throughout the 80s.

I'm only observed the one before the referedum SNP based their tax on oil to support Scotland being independent, of course now the oil falls low SNP would say it bonus to Scotland, for consumer yes for the country no

[windymiller]

The 'reasons' for the falling price seem a bit dubious - You'd almost think that the 'free market' was being manipulated.

No way, really?

[Oddquine]

I have not read all the thread BUT why has the price of oil suddenly dropped?
Have we all suddenly started using a lot less energy in the middle of the winter? Or are the new measures to divert our energy use to greener types of energy started to affect the price of oil? If this is the case then the European and government plans to reduce our dependence on fossil fuels are working.
Anyone who is daft enough to put all their eggs into the oil basket and not have a back up plan should really not be trying to force everyone else to do the same! So yes I do agree the yes voters should be thanking the no voters for saving their skins as the oil was the yes campaigns biggest asset. Or so they thought!
Does everyone in oil from the bottom to the top expect the money to keep rolling in non stop forever? Wake up and move some of your eggs into greener energy or another field altogether before you go broke.

Pretty good explanation here........http://www.economist.com/blogs/econo...ist-explains-4
and here http://www.vox.com/2014/12/16/740170...prices-falling

Seems to me the oil price is a bigger worry for the UK than it would have been for an independent Scotland......because, however much every unionist seems to think that an indy Scotland would spend all the country's income on the same immensely bloated Government set-up, international presence, and WMDs etc as does the UK, the oil income would not be so necessary to meet day to day obligations in the short/medium term post 2016. It may well have been useful initially, on first achieving independence, to help cover our share of UK debt interest until we got essential departments sorted out, sensible and cost-effective tax/benefit/procurement etc policies up and running and economic growth encouraged, but it was never going to be as essential to the Scottish economy as it has been to the UK one since the 1970s.

Scotland's public revenue, without oil income, is only 0.1% different from England’s.....and we wouldn't be spending so much helping to finance the above mentioned bloated Westminster machine...and the city-state of London.

[Scout]

Pretty good explanation here........http://www.economist.com/blogs/econo...ist-explains-4
and here http://www.vox.com/2014/12/16/740170...prices-falling

Seems to me the oil price is a bigger worry for the UK than it would have been for an independent Scotland......because, however much every unionist seems to think that an indy Scotland would spend all the country's income on the same immensely bloated Government set-up, international presence, and WMDs etc as does the UK, the oil income would not be so necessary to meet day to day obligations in the short/medium term post 2016. It may well have been useful initially, on first achieving independence, to help cover our share of UK debt interest until we got essential departments sorted out, sensible and cost-effective tax/benefit/procurement etc policies up and running and economic growth encouraged, but it was never going to be as essential to the Scottish economy as it has been to the UK one since the 1970s.

Scotland's public revenue, without oil income, is only 0.1% different from England’s.....and we wouldn't be spending so much helping to finance the above mentioned bloated Westminster machine...and the city-state of London.

So why was it big issue for SNP to push for Independent, all the TV debate from Alex was on oil.