Debate House Prices


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UK Oil and gas decline

The latest monthly statistics from the Department of Energy and Climate Change (DECC) show UK oil production down – 19% on an annual basis and gas production down 21%. Those are alarming rates of decline.



Gulp..............:(

Comments

  • From the comments....

    This article is riddled with errors. The claim that annual oil and gas production are falling, respectively, at rates of 19% and 21% are simply not borne out by the data.

    Looking at the last 12 months' production (October 2009–September 2010) compared with the preceding 12 months (October 2008–September 2009) gives a decline of 6.6% for crude oil production and 7.1% for gross gas production


    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”

    -- President John F. Kennedy”
  • ess0two
    ess0two Posts: 3,606 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    The previous years scale back in investment won't have helped matters.
    Official MR B fan club,dont go............................
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    From the comments....

    This article is riddled with errors. The claim that annual oil and gas production are falling, respectively, at rates of 19% and 21% are simply not borne out by the data.

    Looking at the last 12 months' production (October 2009–September 2010) compared with the preceding 12 months (October 2008–September 2009) gives a decline of 6.6% for crude oil production and 7.1% for gross gas production



    That comment is obviously right. Suits Aberdeen better ;)
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