When will indyref2 happen?

[Kuro]

Brent crude 2017 average $54.19 Brent crude 2018 average $71.31 32% increase Production up 4% yoy Capital(£5bn) Unit Operating Cost (£15-16 boe) Decomm (1.75bn) expenses largely flat North Sea revenue in GERS unchanged @ £1.43bn? Doesn’t add up I’m afraid

[Malky3]

10 minutes ago, Kuro said:

Brent crude 2017 average $54.19 Brent crude 2018 average $71.31 32% increase Production up 4% yoy Capital(£5bn) Unit Operating Cost (£15-16 boe) Decomm (1.75bn) expenses largely flat North Sea revenue in GERS unchanged @ £1.43bn? Doesn’t add up I’m afraid

Read the Fraser and Allanander blog that I linked to some pages back. 

It does add up due to government tax incentives that have allowed investment in developing the oil fields further. 

The fact that Nationalists are struggling with the concept of that when the Scottish Government has given Amazon £3.6m of taxpayers money to encourage them to employ staff on zero hour contracts is frankly laughable. If they were in charge of Scotland there wouldn't be any North Sea oil extraction at all. All of the companies would f**k off to easier markets. 

[Kuro]

Shut up weirdo

[Malky3]

6 hours ago, Henderson to deliver ..... said:

What an absolute trainwreck.

Either bin the thread or bin the weirdos please.

No need to bin "them" you could simply exclude yourself and the problem would be resolved. Weirdo! 

[Malky3]

Just now, Kuro said:

Shut up weirdo

Translation: "shit that's me been telt".  

 

[Malky3]

12 hours ago, Glenanover said:

Thats because they dont have answers Malky. All they can do is abuse you if you don't agree with them. They are not very nice people at all. 

You're right. They haven't got a clue. 

So far one Nationalist made the sensible suggestion that an independent Scotland might cut taxes to encourage investment and growth - he was shouted down by the no-nothing weirdos on his side. The others that have tried have told me that they believe a wee fairy will sprinkle pixie dust on an Independent Scotland free of big bad Westminster and a big pot of gold will appear towed by a blessing of unicorns. And whilst every European leader drops to their knees to worship the kilted ones there will be a round up of all those b*****ds who didn't agree with the SNP and if they can't be re-educated to vote the right way in future, they'll be made to "disappear" in the night. 

Thank f**k for the 55% 

[Bairnardo]

Read the Fraser and Allanander blog that I linked to some pages back. 
It does add up due to government tax incentives that have allowed investment in developing the oil fields further. 
The fact that Nationalists are struggling with the concept of that when the Scottish Government has given Amazon £3.6m of taxpayers money to encourage them to employ staff on zero hour contracts is frankly laughable. If they were in charge of Scotland there wouldn't be any North Sea oil extraction at all. All of the companies would f**k off to easier markets. 

Yip. This is definitely credible, and is undoubtedly what would happen.

Companies lifting oil for $5 a barrel that they can sell for $70 would certainly leave those finite resources in the ground, and go away chasing other finite resources in these mythical easier markets which they somehow arent already balls deep in.

And of course, because SNPBAD, no one else would seek to exploit the resources and infrastructure that had been inexplicably left behind as multinational companies who happily deal with all of the very worst regimes across the planet run from Nippy and her oppressors of industry.

STURGEON OUT! VOTE NO!!

[Malky3]

57 minutes ago, Bairnardo said:

Yip. This is definitely credible, and is undoubtedly what would happen.

Companies lifting oil for $5 a barrel that they can sell for $70 would certainly leave those finite resources in the ground, and go away chasing other finite resources in these mythical easier markets which they somehow arent already balls deep in.

And of course, because SNPBAD, no one else would seek to exploit the resources and infrastructure that had been inexplicably left behind as multinational companies who happily deal with all of the very worst regimes across the planet run from Nippy and her oppressors of industry.

STURGEON OUT! VOTE NO!!

 

You are really struggling with this aren't you? 

No-one has said that companies are lifting oil for $5 per barrel. What I've said, and it is factually correct, is that the tax revenue derived from those barrels of oil was depleted as a result of tax incentives from the government to the oil industry to enable them to do more exploratory drilling in the North Sea. 

If you aren't prepared to read or believe the Fraser of Allander Institute blog clearly showing why the figures are correct, perhaps this simple BBC report on the findings of industry analysts Wood MacKenzie will help.

https://www.bbc.co.uk/news/uk-scotland-scotland-business-46796983

Note the highlights

Quote

Drilling in the UK sector in 2018 was at its lowest level since the 1960s.

Quote

Development expenditure is also predicted to increase, principally driven by oil majors such as BP and Shell.

Quote

Another issue that gained traction was the time series of the ratio of the Scottish deficit compared to the UK over time, and in particular since 2011. There were even claims that this was somehow linked to the constitutional debate.

This is not the cause of changes in Scotland’s relative fiscal position.

Rather, after 2011 there was a sharp fall in oil revenues – while the oil price itself peaked in 2014, tax revenue was lower in the sector e.g. undertaking investment which incurs tax relief, meant that tax receipts were lower after 2011.

The last quote is from the Fraser and Allander blog. 

Edited August 28, 2019 by Malky3

[Bairnardo]

Except companies are lifting oil for that price, and the idea that they will cut and run from an Independent Scotland is fucking stupid. They will adapt to their surroundings as they do worldwide.

[Malky3]

1 hour ago, Bairnardo said:

Except companies are lifting oil for that price, and the idea that they will cut and run from an Independent Scotland is fucking stupid. They will adapt to their surroundings as they do worldwide.

As the report says only 8 wells were being drilled in 2018. Tax incentives have increased activity and they expect to see between 10 and 15 wells this year. Without the incentives to business they may well have taken their production elsewhere as that was the trend. 

If an Independent Scotland was run by the idiots on these pages, or the kind of morons who have tried to paint a Scottish Government GERs Report as some sort of Westminster stitch up I'm sure all manner of companies would be fleeing an Independent Scotland. Similarly if an Independent Scotland was to be the kind of high tax country that left wing Nationalists are calling for, companies would flee an Independent Scotland. None of that is hard to believe or hard to follow. 

[Bairnardo]

1 minute ago, Malky3 said:

As the report says only 8 wells were being drilled in 2018. Tax incentives have increased activity and they expect to see between 10 and 15 wells this year. Without the incentives to business they may well have taken their production elsewhere as that was the trend. 

If an Independent Scotland was run by the idiots on these pages, or the kind of morons who have tried to paint a Scottish Government GERs Report as some sort of Westminster stitch up I'm sure all manner of companies would be fleeing an Independent Scotland. Similarly if an Independent Scotland was to be the kind of high tax country that left wing Nationalists are calling for, companies would flee an Independent Scotland. None of that is hard to believe or hard to follow. 

No, the idea that any country would allow a resource like crude oil or natural gas to remain in the ground because oil companies didnt like the tax regime is fucking ludicrous. 

As is the case now, oil companies would evaluate the margins, lobby the govt of the day to try and increase those margins, and if they deemed them unacceptable, would flog the assets to a company prepared to work with the margins, of which there are many. This fact is easily demonstrable with numerous such asset sales since the downturn (and before, and since the recovery) 

So stop talking shite. 

[Malky3]

23 minutes ago, Bairnardo said:

No, the idea that any country would allow a resource like crude oil or natural gas to remain in the ground because oil companies didnt like the tax regime is fucking ludicrous. 

As is the case now, oil companies would evaluate the margins, lobby the govt of the day to try and increase those margins, and if they deemed them unacceptable, would flog the assets to a company prepared to work with the margins, of which there are many. This fact is easily demonstrable with numerous such asset sales since the downturn (and before, and since the recovery) 

So stop talking shite. 

I think I'd prefer to take the word of Sir Peter Wood over a no-body on a football forum. 

Here's what he said back in 2014 when Alex Salmond was boasting - like you are - about the kind of revenues an Independent Scotland could get from the North Sea.

Quote

Wood said on Wednesday, however, that the "best outcome" would be between 15bn and 16.5bn barrels and that would depend on a new government in Holyrood offering more generous tax terms to oil explorers. The respected industrialist argued that rather than the £7bn worth of tax a year that the SNP expected, the true figure was more likely to be £5bn. Alistair Darling, the former Labour chancellor and head of the pro-union Better Together campaign, said Wood's analysis "blows apart Alex Salmond's plans for funding schools and hospitals".

If you think increasing taxes would have companies queuing up to drill in the North Sea, I think you're more deluded than I first thought you were. 

Edited August 28, 2019 by Malky3

[Bairnardo]

12 minutes ago, Malky3 said:

 Sir Peter Wood 

This in an edited post aswell 

 

f**k me. 

[Malky3]

1 minute ago, Bairnardo said:

This in an edited post aswell 

 

f**k me. 

Aye whatever, you know who I meant. 

[Bairnardo]

10 minutes ago, MixuFixit said:

Does St Peter of Sherwood work for the Fraser and Allander Institute?

Laser and Calendar IMO

[MONKMAN]

Laser and Calendar IMO

He can’t even copy and paste correctly.

[Bairnardo]

He can’t even copy and paste correctly.

Maybe he was fatigued. Being up all night mashing away at the politics section of a football forum, on your umpteenth alias account must be pretty tiring.

[Glenanover]

2 hours ago, Bairnardo said:

No, the idea that any country would allow a resource like crude oil or natural gas to remain in the ground because oil companies didnt like the tax regime is fucking ludicrous. 

As is the case now, oil companies would evaluate the margins, lobby the govt of the day to try and increase those margins, and if they deemed them unacceptable, would flog the assets to a company prepared to work with the margins, of which there are many. This fact is easily demonstrable with numerous such asset sales since the downturn (and before, and since the recovery) 

So stop talking shite. 

Its you thats talking shite.

[Glenanover]

6 hours ago, Malky3 said:

You're right. They haven't got a clue. 

So far one Nationalist made the sensible suggestion that an independent Scotland might cut taxes to encourage investment and growth - he was shouted down by the no-nothing weirdos on his side. The others that have tried have told me that they believe a wee fairy will sprinkle pixie dust on an Independent Scotland free of big bad Westminster and a big pot of gold will appear towed by a blessing of unicorns. And whilst every European leader drops to their knees to worship the kilted ones there will be a round up of all those b*****ds who didn't agree with the SNP and if they can't be re-educated to vote the right way in future, they'll be made to "disappear" in the night. 

Thank f**k for the 55% 

Correct. Anyway another day and still no answers. Just more abuse and their attempt at humour. They are not very bright that lot.

[Glenanover]

48 minutes ago, MONKMAN said:

 

He can’t even copy and paste correctly.

 

At least he talks sense.