Oil Price

[welshbairn]

Just now, bob the tank said:

 

What do transportation costs have to do with anything? The petrol stations nearest the Grangemouth refineries have the highest priced fuel in central Scotland

 

Higher oil prices mean higher costs for all industries. I'm not sure if the benefits to the oil industry would outweigh that for the Scottish economy as a whole.

[Brother Blades]

If only we had followed the Norwegian model decades ago.... their “oil of the people, for the people” & associated oil fund used to be taught as part of the Norwegian standard offshore survival training. If only the UK had such forward thinking.
As an oil worker, I’m happy with the rise in price, but not sure what impact this would have on industry generally, obviously an independent Scotland could mitigate these risks as we would have a similar pot with 90% less people to support....

[strichener]

27 minutes ago, Brother Blades said:

If only we had followed the Norwegian model decades ago.... their “oil of the people, for the people” & associated oil fund used to be taught as part of the Norwegian standard offshore survival training. If only the UK had such forward thinking.
As an oil worker, I’m happy with the rise in price, but not sure what impact this would have on industry generally, obviously an independent Scotland could mitigate these risks as we would have a similar pot with 90% less people to support....

Yes, we shouldn't be sharing it with England, Wales and NI.  Much better that we create an EU Common Oil Policy that will allow the Germans, French et al. to have a share.  If it's good enough for other resources such as Farming and Fishing then why not oil.

[Brother Blades]

Yes, we shouldn't be sharing it with England, Wales and NI.  Much better that we create an EU Common Oil Policy that will allow the Germans, French et al. to have a share.  If it's good enough for other resources such as Farming and Fishing then why not oil.

Strichener, we all get that you hate the EU, but at least be reasonably coherent in your arguments?
As part of the union (UK), I fully believe that oil is a shared resource within that union, but, when Scotland becomes independent, it is Scotland’s resource.
I can’t recall a common coal policy that enforced Poland to share its sovereign resource with the rest of the EU, so you’re just being a tit.

[strichener]

2 hours ago, Brother Blades said:

Strichener, we all get that you hate the EU, but at least be reasonably coherent in your arguments?
As part of the union (UK), I fully believe that oil is a shared resource within that union, but, when Scotland becomes independent, it is Scotland’s resource.
I can’t recall a common coal policy that enforced Poland to share its sovereign resource with the rest of the EU, so you’re just being a tit.

Poland that is a net importer of coal and has been since it joined the EU   So much for coherent arguments.

[lichtgilphead]

5 hours ago, strichener said:

Poland that is a net importer of coal and has been since it joined the EU   So much for coherent arguments.

According to official BEIS figures, the UK has been a net importer of crude oil every single year since 2004. That's the same year that Poland joined the EU.

The initial ownership of a sovereign asset does not determine whether that asset is put to internal or external use.

[SmudgePop]

Oil prices has been increasing lately

[strichener]

6 hours ago, lichtgilphead said:

According to official BEIS figures, the UK has been a net importer of crude oil every single year since 2004. That's the same year that Poland joined the EU.

The initial ownership of a sovereign asset does not determine whether that asset is put to internal or external use.

What does this have to do with an independent Scotland?  We would be  a net exporter.

[Baxter Parp]

12 hours ago, strichener said:

Poland that is a net importer of coal and has been since it joined the EU   So much for coherent arguments.

But Poland does have coal, dolt.  It's not forced to share it with anyone is the point.

[topcat(The most tip top)]

But Poland does have coal, dolt.  It's not forced to share it with anyone is the point.

You've clearly not thought about what happens if that coal happens to swim under the Czech border.

 

 

[Brother Blades]

But Poland does have coal, dolt.  It's not forced to share it with anyone is the point.

Which was precisely my point. Thanks.
As an aside, does anyone know if oil has tariffs applied in cases of no trade deal?
For instance, in a hypothetical Independent Scotland, within the EU. Would Germany be able to buy our exported oil at a cheaper price than a hypothetical rUK with no Brexit trade deal / CU etc?

[Brother Blades]

Poland that is a net importer of coal and has been since it joined the EU   So much for coherent arguments.

You’ve been firmly put in your place by Baxter Parp, again. So,I don’t really feel any need to add anything, other than - your insinuation that any sovereign resources would become some sort of central melting pot for all EU to share was completely ridiculous- net importer or exporter matters not a jot.
I look forward to your future posts on the Mediterranean nations being forced to share their tourism revenue with the rest of the EU.

[Blue-Toon]

Good news for BP.

UK-headquartered BP chalked up pre-tax profits totalling £6.7 billion, up 190% year-on-year, while revenues increased to £111bn from £86bn.

https://www.energyvoice.com/oilandgas/178022/investors-rewarded-as-bp-increases-dividend-amid-soaring-profits/

[John Lambies Doos]

Good news for BP.
UK-headquartered BP chalked up pre-tax profits totalling £6.7 billion, up 190% year-on-year, while revenues increased to £111bn from £86bn.
https://www.energyvoice.com/oilandgas/178022/investors-rewarded-as-bp-increases-dividend-amid-soaring-profits/

No voting wankers

[SandyCromarty]

On 5/15/2018 at 10:05, Blue Brazil Forever said:

Maybe they should reconsider the Ban (sorry moratorium ) on fracking. Only saying like.

The industry was fracking in the North Sea back in the seventies and eighties and beyond, early days saw strings of explosives lowered into the hole and then radio silence etc until ignition, all very improvised but gladly the system was made safer and massively improved later.

[SandyCromarty]

On 5/15/2018 at 15:45, Brother Blades said:

If only we had followed the Norwegian model decades ago.... their “oil of the people, for the people” & associated oil fund used to be taught as part of the Norwegian standard offshore survival training. If only the UK had such forward thinking.
As an oil worker, I’m happy with the rise in price, but not sure what impact this would have on industry generally, obviously an independent Scotland could mitigate these risks as we would have a similar pot with 90% less people to support....

If only we had done so and not allowed the Westminster Government squander it as they have done.

I note that this thread opened with a quote from an 'oil analyst', how often do we see these so called experts getting it so feckin wrong, no one on this planet can forecast oil prices as the industry is so volatile, consider the present situation where the Saudis are determining the price by their push for increased production levels to raise  the oil price, Iran was the greatest objector to the increase and they detest the Saudis and have been actively supporting the Yemeni's against Saudi Arabia, so with that you will never have stability and an assured oil price.

BTW the Saudis pumped out 10 million barrels in May and at the Opec meeting in June they stated that they were increasing production.

It is interesting that through the oil industry bad times you very rarely hear any statement from any major oil company chairman regarding pricing, instead we have the 'analysts' or experts such as Ian Wood who has done well but he still runs a service company and could never be considered as a major player in the oilfield.

As for pricing, well in the early days in drilling in the North Sea there always was good times and then bad times so the norm was seven years from trough to peak to trough,186 was bad and then the next one in the early nineties, however that last boom went on for far too long with the likes of Seadrill and the rest pumping out deepwater rigs like there was no tomorrow and young people coming into the industry thinking that it was always going to be good times, well banks who now own some of those new rigs through loan default repossessions are cutting them up for scrap in Singapore and the companies who came through it all have learned how to tighten their belts and adjusted their budgets sensibly and accordingly.

The one thing we do know is that with the increase in electric car production and the world hysteria over oil based plastic there could possibly be a far lower demand for oil in twenty years. time

[Jacksgranda]

12 hours ago, SandyCromarty said:

 

The one thing we do know is that with the increase in electric car production and the world hysteria over oil based plastic there could possibly be a far lower demand for oil in twenty years. time

It will have run out by then...

[Suspect Device]

3 hours ago, Jacksgranda said:

It will have run out by then...

 

You are being sarcastic I assume. Alluding to the BS we were fed pre-referendum.

[Jacksgranda]

21 minutes ago, Suspect Device said:

 

You are being sarcastic I assume. Alluding to the BS we were fed pre-referendum.

Very perceptive, young man.

[welshbairn]

8 hours ago, Jacksgranda said:

It will have run out by then...

Maybe not but where are we going to find the electrical energy to replace all the petrol and diesel we use today?