Oil Contracts

[Sysman]

obin Allan, chairman of the independent explorers' association Brindex, told the BBC that the industry was "close to collapse".

He's talking about his bit of the industry, and that's the bit oil companies will be using their cash on when prices are high.

Oil exploration is often a very long term investment because stuff they find that's uneconomical to extract today might become economical to extract with some combination of new technology and future prices.

But it's very reminiscent of the early 80s.

Oil price too low: it's hurting our income.
Oil price too high: pound too high and it's hurting our exports.

I got sick of it then and I'm sick of it now.

[BlasterBates]

Yup the cuts will come.

[Paddy]

I believe that decline in the oil industry will be offset by the upward trend in every other business caused by the falling energy prices and lower costs. About time to cut the huge profits of the oil giants. Too bad it will be the low end employees who will take the brunt of the cuts.

Subsidize them? WTF

Lets increase the fuel duty, keep the petrol prices the same and use the proceeds to subsidize the oil giants...

Right on..

[JRCT]

Yup the cuts will come.

Is that a typo?

[BlasterBates]

Is that a typo?

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