My thoughts in CapX on the current state of North Sea oil:
Click to read the full article by Sanjoy on CapX
Extract:
North Sea oil should be all over by now. Back in the 1970s, it was predicted to run dry by the year 2000. Instead, production maxed out at the turn of the millennium and it’s still going today. While the sector is now in decline, billions in value still remain. But ideology will kill the sector off long before geology does. In the rush to cut emissions, energy costs and security have fallen by the wayside.