Wednesday, 17 September 2014

A Serious Item On Oil

The question of oil is one of the central issues at the heart of the Referendum debate and the case made by the N56 body of Aberdeen that the prospects are optimistic is at the centre of the Yes campaign.

Euan Mearns of the former Oil Drum site and an oil man has taken a hard look at this in the context of what is involved in drilling and taking oil and does not agree.

This item suggest that the figures simply do not stack up in reality and we are talking in trillions of pounds.  It is an intricate read and it would be as well to look down the comments where a number of experts do add to the debate.

As someone with a long memory, I can recall major sectors of the economy in the past now gone where optimistic politicians and government advisers foretold futures that did not happen.

The common feature was that there came a time when issues, some predictable, many not, led to contraction and losses and with it decline or the need for costly state support or worse.

1 comment:

  1. The graph at the beginning of Euan Mearns' post seems to say it all.