huge oil find in Scottish Waters announced - a billion barrels. Shetlands.

Shexit

they need 12 billion for all pot holes in uk. this covers that, four times over.

Zorro showing the economic understanding typical of a Scottish Independence supporter - none.

I recall, when the oil was first discovered, it was suggested that we could be independent, and wealthy, like our Arabian friends!

Same good news about "Global Warming".....we would be bathed in sunshine like the mediterranean!

Scotland are loaded now AKA we got to go FREE

Thinking of handing my UKIP badge back in

The investments my band put into them and they are crumbling

The Shetlanders have an affinity with Scandinavia and their flag is based on the Nordic cross.
They've often spoke of independence should Scotland break away from the Union.
Guess where most of the oil is located. If they went so would most of the oil.

Yeah i here they want to breakaway

I say let them but they can worry about all the travel back and forth and nothing to do with Scottish workplaces to help out with.They can just buy speed boats or use a couple of their old fishing boats if they work in Scotland mainland.

You see The Stone Roses are at Hampden in June

Could be a few whity team you support scenes going on that day

Might head but planning the Wembley one instead and get away for 4-5 days or so

My son goes to the Stone roses concerts in Glasgow.

I can't remember. The SECC rings a bell.
He's done T in the Park a few times as well.

50 billion is a nothing to 'just checking' - it's one find, there might be more?

there is an industry that's been there since the mid seventies.

five million scots - £10,000 each? on one find. Oil will rise in price.

i guess they'll delay the referendum till they get it all out.

Zorro do you genunely need this explained to you? It beggars belief an adult needs this explained to them but I will waste my time and do so.

The oil is in the ground. It is worthless there but eventually may be converted to a market value. It costs money to find. It costs money to extract. It costs money to process. It costs money to market and ship. It costs money to re-sell, if it's acually used as a fuel product. Then there are the decommissioning costs that need set aside. Pension liabilities. 1 billion barrels of oil extracted and sold for $50 is a cost of -$10 a barrel if it costs $60 to get the product to the consumer, so that's 10 billion loss for whoever pays for it. Are Scottish Taxpayers prepared to pay $10 a barrel to get it out? And if that It's already been stated by experts that the North Sea may be at the point where it just a loss for the Tax Payer. This is why people talk about what is econmically viable.

To calculate the value to Scotland as total * price then divide it by the population is something is frankly just .. I'd better watch my words.

Anyone can surely can see that's wrong. Unfortunately however this is the level of understanding we tend to see from Scottish Independence supporters, who are not the sharpest. Salmond tried to tell them that the value of oil in the ground would be divided up between voters and they didn't see anything wrong with it. Totally clueless.

Did this really need explained?

i understand, i was a partner in a retail business once - i understand overheads.
there is already a thriving business there. it's not just one oil field.
there will be a profit margin across the board. if there was not one.
extraction would cease.

there is already a thriving business there. it's not just one oil field.

Zorro have you not read of how many fields have been closed down? Or how many people have been made redundant?
Whatever it is thriving it is not.
As regards this latest 'find' forgive me for being a bit suspicious of the reality of it. At this moment in time it is at best an honest speculation.

Who are they? Westminster or Holyrood? If the former I think wee Nicki would be screaming about it, don't you?

Scottish news - BP just sold a pipeline they've been using since the seventies today. to a private firm. 230 million. What did I tell you. they find buyers FKin quick? Into Private pockets. It's unprofitable? we'll sell it off. Then they find more and more oil. I remember watching weekend world in the eighties they said oil would all be gone around the world within fifty years, well that was BS. And they are still pumping BS out now.

they tried to sell the forests, the best bits of the NHS. anything to get a back hander.

$250m over 8 years tells you how poor a state the oil industry is in.

you just said 450,000 barrels a day.

that's 450,000 x 50 dollars a day

22.5 million a day x 365 days = 8,212.5 million a year

8 billion.

is it the only pipeline? in scotland ?

They say whiskey makes more money for Scotland?

it's running at a loss, temporarily - it's a way of controlling economies globally.
they need this stuff to run every country. If you stop pumping they move into a country and wreck it and install a new government. It's an essential.
the saudis have temporarily stalled it to get control of the satellite states who were under cutting the price. they're burning them off with a low ball price to FK them up. Once they agree to do what they are told, oil will sky rocket again. they need them all to follow orders. monopoly. back upto 110 soon.