BBC very worried about Scottish oil industry’s ‘rising costs’ but fail to acknowledge potential $41 billion profit
On BBC Scotland at 06:28am today and sneaked in at end after the cheery stuff about the SNP conference:
‘The oil and gas industry’s being warned to keep an eye on rising costs as it recovers from the oil price crash. The findings from the Oil & Gas Authority showed expenditure of £6.9 billion, 2% higher than the previous year. Experts claimed this shows the recent years of sharp cost reductions are over. However, it’s still significantly lower than the peak of 2014. The unit of cost per barrel of oil also rose by 2% last year.’
I don’t suppose there was time for a wee sentence informing us what the income per barrel is? It’s currently around $80 and heading up toward $100 in 2019, my ‘experts’ tell me!