Ooops that should read EI (Energy Institute) president. My brain, damaged by living through the 60s and 70s, misread the Energy Voice headline today:
‘There’s more to the North Sea than ‘boom and bust’, EI president says’
Anyway, the argument he presents is an interesting one for Scotland’s future economy, after independence. He makes the three points that reduced costs, new technological extraction solutions and digitalisation will enable the industry to break the boom and bust cycle resulting from dramatic sale price fluctuations of the kind we saw in 2016. With regard to digitalisation, he says:
‘There has been a lot of talk around the opportunities digitalisation will unlock. It’s no longer pie in the sky – talking about things we can do 10 years from now. It’s about things which can be done in the next two or three years. It’s about crunching enormous amounts of data to help make better decisions around areas such as maintenance and understanding reservoirs.’
This adds to the optimism generated by the rising price trend already reported here, multiple times:
Only one piece missing from the set – independence!