Plunging prices threaten UK's 'cash cow' oil industry

W

World News

Guest
The oil industry has been hard hit by crude prices falling more than 50 percent since June to less than $50 a barrel. Energy giant BP recently announced it was cutting 300 local jobs, mostly in the Scottish city of Aberdeen, Britain's oil "capital". "We've seen oil prices fall in the past and it has recovered," said Neil Gordon, chief executive of Subsea UK.

Continue reading...
 

Attachments

  • 990c5aed777afbe75a7848bf48251f4e.jpg
    990c5aed777afbe75a7848bf48251f4e.jpg
    3.4 KB · Views: 8

Similar threads

K
Housing and oil -- something had to give -- and now we are gallopingtoward recession -- at least, le
Replies
1
Views
25
Jerry Okamura
J
C
Another wart on the immoral biofuel business!
Replies
3
Views
26
OneTwoThree
O
G
The Deflation Time-Bomb
Replies
1
Views
18
Christopher Helms
C
R
The U.S Oil Imperialism: Americans would support the truth
Replies
1
Views
29
Neolibertarian
N
C
The biofuel hoax is causing a world food crisis!
Replies
2
Views
35
mcs
M
Back
Top