New oil boom - double edged sword?
*up to 30m boe
*30yrs+ left
*300 new fields potentially developed
Seems the high oil prices may set off a new "oil boom" in this part of the world, if some of the straplines I've read along the above lines come to pass.
Whilst the rest of the economy in the UK & beyond struggles, this area may see new growth thanks to the high oil price, assuming the forecast oil prices stay high (some predicting $150 soon).
However will ABZ gain or lose overall with the current fuel costs making conditions extremely difficult for the aviation sector? Flybe's decision to axe their NCLABZ route soon proves that we will not be immune to the downturn in civil aviation - given our location, many routes to/from here will use up more fuel than elsewhere. Could there be more victims on the horizon? Example, what about the off-peak services to the likes of EMA, LBA, etc?
There is a good chance that any growth plans by airlines could be supressed because of the fuel costs, no matter how successful the Aberdeen economy may become because of the high oil prices. There's an irony there somewhere!
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Above notwithstanding, have read BA may be sending the odd B763 up here next summer? BA used to send one up in an Offshore Europe week (biannual) but I can't remember the last time one appeared, & BA haven't utilised a 767 as far I as I know for the last couple of OEs conferences.
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More talk that whilst the runway may be resurfaced in S09 mainly overnights, the ext may not happen because of the tight finances of BAA & Ferrovial. Also that 36/18 may be out of action for forseeable future? No money to resurface that either? One wonders if now would be a good time for ABZ to be sold off if BAA are reluctant to invest airside!
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Can't recall if I posted this previously but 2010 may see a one-off Aberdeen-Barbados flight, to link up with a cruise in the Caribbean, Fred Olsen travel. 2010 is a long way off these days though, so whether it comes to pass...