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Extra credit 10

Truth lies oil and Scotland


Oil is basic wealth of nation
Biggest casino in the world oil industry
Understanding oil helps to understand Scotland
Oil shape 20th century countries fight war with it
Having oil gives political muscle, vital to nation state
Claymore conadian company talisman energy
40 different wells, massive pipeline sends oil, runs at a capacity
Produce more oil than Kuwait, but its not sensationalized
History: 69 big discovery, by the mid 70s UK continental shelf major province by
world standards.Gavin Mccrone 1972 headhunted to become economic edvisor
scotiish advisor for next 20 years tells the importance of north sea oil. UK in dire
economic situation. Oil discovery came thick and fast, created different exciting
atmosphere.
The excitement Scotland, everyone wanted to be apart of new black gold.
Britain was struggling. OPEC forced price of oil imports. Britain almost bankrupt.
Barrel oil produced seen as lifeline. British survival, Scottish pride.
1975, north sea oil important to Britain.
Many people think north sea oil about to run out. No two people seem to agree
how much . Theoil is left. There seem to have lots of oil left as Shells office in
Aberdeen, seems to have invested a lot In north sea. Speculation all about
psychology madness in market record price of barrel oil despite huge supplies.
State own coporations oil. Oil companies deal with government. All governments
deal with oil companies.. how much tax can governments get from them.
Companies have to buy to find the oil. The oil companies have paid a lot on the
oil thats extracted. Tax, supplementary charge (tax). Petroleum revenue tax
charge some more. More tax fuel duty and vat. British motorist the highly taxed
motorized.
Britain made massive cuts during broke got to take loan when world bank imf. To
publish oil reserves so that imf would less likely to bully asking cuts. Spending
cuts sent shockwaves thru Britain. Discontent then thatcher won. On the haul, Oil
decides political direction of country. The revenue of north sea changed
restructured economic direction refurbished Britain. Treasury reluctant to
recognize the wealth that is there use crisis to force cuts. How labor
responsible.fracturism. taxes becomes big, exporters complain oil causes
strong pound. Thatcher believes in free market sell national oil companies.
Britain awashed with oil money.

Thatcher used to restructured economy. Employment financing. Because serious


recession, pound high. Boom times in north community Scotland. But their in
dilemma would it preserve their way of life through the change of oil.
Shetland. He knew Oil companies use shetalnd. Force thru an active
parliamaent , give council complete control shoreline, give power to make oil
companies use same terminal minimize disturbance make them pay for privilege
became Shetland oil fund. Already spent half of it transform the place.
Who gets money have been influencing politics in Scotland. Theyre greedy
monstrous. Scottish nationalism exist before oil. It provides finances for
nationalist to exert independence. The oil revenues substantial.
Could oil be important to Scottish in the future?
Opeening all kinds of opportunity with technology, they have the technology.
would it shape future?
Geophysicistgeologist, constantly reacessing oil thousands sea below seabed.
Why is accuracy important? Simple oil well which to minimize excessive cost.
Science is needed.
Scotland epicentre oil industry. Aberdeen game changing. Great discipline in
industry deliver integrity quality oil.
The northsea high quality, oil recover is high. Good oil reservoir. Today the
technology is extending the life of oil field.
Getting more oil is creating more challenges. Innovation, drive technology in
Scotland its driving because of oil. True center global excellence when it comes
to energy.
More jobs leading edge technology. Oil shaped Scotland modern history. Future,
Scotland shaping oil.