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Author Topic: UK to cut 90% of North Sea oil industry investment in 2016  (Read 160 times)
Jet Cash
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February 26, 2016, 07:40:03 AM
 #1

There is a short video about it here -
https://www.youtube.com/watch?v=FldLgb6OzVE

Despite this, our corrupt prime minister is encouraging the expansion of fracking to screw up our countryside, and to increase the banks reckless lending to frackers.

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bryant.coleman
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February 26, 2016, 08:45:09 AM
 #2

The cost of production for North Sea oil is very high, and after all the taxes (both the EU taxes and the UK taxes), most of the oil companies might be making a net loss right now. The cost is anyway higher for the offshore rigs. But in the United Kingdom, the situation is worsened by the higher than average labor costs and freight charges.

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