Scotland To Vote On Independence In Late 2014

[Sheilbh]

I think there's still a trillion quids worth down there, 90% in Scottish waters. There's also, I think, a lot of exploration going on around Shetland that looks promising.

[Malthus]

Time to dig up zombie Edward Longshanks. [According to legend, it's what he wanted ... ]

A more dubious story tells of how he wished for his bones be carried along on future expeditions against the Scots.

[Gups]

Didn't someone mention the last time this topic came up that Brent is tapping out?

It is, although it's mitigated by rising prices so 2008/09 was a record year (£12bn)

[Brazen]

I had to do the sums on Britain's oil reserves for someone too young to have been taught proper sums today:

The UK's proven, probable and possible oil reserves stand at 24 billion barrels. If it is consuming 1,590,000 barrels per day, how many years of oil has it got left?

Less than 41 and a half years.

[Valmy]

I think there's still a trillion quids worth down there, 90% in Scottish waters. There's also, I think, a lot of exploration going on around Shetland that looks promising.

When I rather tongue in cheekly suggested in another one of these Scot threads that this was a cynical plan to take the oil for itself you said I was wrong and the North Sea oil was in decline didn't you?

[Sheilbh]

You are wrong and it is. It's still a decent amount though, but it is in decline.  Shetland looks good, from what I understand, but nothing's actually been found yet.

[Gups]

I think there's still a trillion quids worth down there, 90% in Scottish waters. There's also, I think, a lot of exploration going on around Shetland that looks promising.

It's not worth a trillion quid if it costs a trillion quid to get it out. Oil output is declining pretty rapidly and England and Scotland whether jointly or seperately are going to have to adjust to losing a solid 2% of total Govt receipts.

[Gups]

It'll be fun watching Salmon crush Cameron tactically. I don't like Salmon but he is a world class politician, one of the best the UK has ever seen, while Cameron is inexperienced and inept and this kind of stuff.

[Razgovory]

Fishy guy, huh?

[Sheilbh]

He's fine. It's really his deputy, Nicola Sturgeon, you need to worry about.

[Valmy]

He's fine. It's really his deputy, Nicola Sturgeon, you need to worry about.

Oh wait that really is his deputy .  There definitely is something fishy about the SNP.

[mongers]

I had to do the sums on Britain's oil reserves for someone too young to have been taught proper sums today:

The UK's proven, probable and possible oil reserves stand at 24 billion barrels. If it is consuming 1,590,000 barrels per day, how many years of oil has it got left?

Less than 41 and a half years.

I don't see how you can conflate those three different terms together; possible means how much, exactly ? 

UK proved reserves are 2.8 thousand million barrels giving an R/P of a bit under 6 years.

Or using your consumption figures, if things were hypothecated out that way, 1761 days worth or 4.8 years* ! 


* based on 2010 figures.

[Zanza]

Well, maybe they can sort that out once they become their own country.  Ireland was very poor for a long time after breaking off.  It only became an affluent country relatively recently.  Since the late 1980's early 1990's.

And then only for a few weeks.

Ireland is still richer than the UK, Germany or France despite their massive recession.

[Admiral Yi]

Ireland is still richer than the UK, Germany or France despite their massive recession.

You're shitting me.

[Zanza]

Ireland is still richer than the UK, Germany or France despite their massive recession.

You're shitting me.

In 2010, Irelands purchasing power per capita was at 128% of the EU average. Germany was at 118%, UK at 112%, France at 108%, USA at 148%. Actually, in 2010, only the Netherlands and Luxembourg of the 27 EU states were richer than Ireland. Figures from Eurostat. CIA Factbook is similar.