According to a report in Energy Voice yesterday:
‘Top petro-economist Alex Kemp will soon deliver a more “bullish” forecast for North Sea oil production out to 2050. The Aberdeen University professor said higher than expected Brent crude prices and lower costs meant existing predictions could be too conservative. His last study estimated that nearly 11 billion more barrels of oil would be produced between 2017 and 2050 with Brent around $60 per barrel. But with prices hovering between $70 and $80 for the last few months, Prof Kemp and his colleagues at the institution could deliver more optimism.’
This is a sign that more conservative, cautious, opinion is catching up with more alert thinking revealed in earlier reports here:
Scottish crude oil value surges to record level in more than 3 years
Scottish oil surging back toward £100 per barrel and massive Treasury revenue?
May 10, 2018johnrobertson8343 Comments
Oil prices to rise to $70 per barrel this summer as two new fields are discovered in last two weeks
Another major oil-find in Scottish sector of North Sea
Multi-million-barrel oil discovery in North Sea
Of course, for this wealth to be properly exploited will require a change of behaviour in the Treasury. See:
http://www.taxresearch.org.uk/Blog/2018/09/03/london-is-giving-away-scotlands-oil-revenues/
One of the reasons they want to hang onto us , if there was no oil , no whisky , no fish , no Scottish innovations , they would have dumped us decades ago !
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Reblogged this on Ramblings of a 50+ Female.
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