‘FTSE bounces back amid rising oil price’

July 6, 2017

By Professor John Robertson

I won’t attempt to put this from EnergyVoice into my own words. I couldn’t:

‘London’s blue-chip index bounced back on Monday as investors piled into commodity stocks in response to the rising oil price. The FTSE 100 Index climbed 64.37 points to to 7,377.09, driven by a strong performance from the mining giants, with Glencore soaring 5%, or 14.4p, to 301.6p. Oil major BP was also in the ascendency, up 8.5p to 451.3p, as Brent crude rose 1.4% to 49.44 US dollars a barrel.’

What I can do is say this is just more evidence of the security of Scotland’s oil industry in the medium to long term after one bad year in forty. Forty? There’s a joke there somewhere.

I’ve lost track of how many good news stories I’ve reported on the same thing. If you search my blog for ‘oil’ you’ll find them all. The overwhelming weight of evidence is that Scotland’s oil has decades to run. See for example:

Scotland’s Treasury to benefit from ‘Oil Price Shock In 2020’

Why Scotland’s oil is going to be worth a fortune in the years to come

https://www.energyvoice.com/marketinfo/143621/ftse-bounces-back-amid-rising-oil-price/

‘Wave of new jobs hits the North Sea’

job-block-1_0

© amecfw.com

According to EnergyVoice yesterday, jobs are returning to the North Sea in some numbers. I’ve just put them in a listStatoil’s North Sea Mariner:   1500 jobs east of Shetland

Is this any wonder after the run of positive news about the oil and gas sector in terms of new finds and price optimism? Remember these:

Estimates of Scotland’s oil reserves West of Shetland now massively increased to around 8 billion barrels! ‘A super-resource now on the cards.’

$90 per barrel for Scotland’s oil by 2020

https://www.energyvoice.com/oilandgas/north-sea/143480/wave-new-jobs-hits-north-sea/

featured image (c) http://everyinvestor.co.uk

You can read more from Professor John Robertson at https://thoughtcontrolscotland.com/

 

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