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Old 11th Nov 2008, 17:18
  #1245 (permalink)  
Richard Taylor
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Oil price

Well SSH has certainly disappeared in an Egyptian sandstorm.

I wonder with oil prices at ~$54 today, how further they will fall & when will they fall low enough to start affecting both the airport & local economy. Bad enough the non-oil economy in a slump, last thing we need is the main employer slumping also.

It's all cyclical & at some point they will rise again, but when that will be nobody seems to know.

Depends on how "long-term" the thinking is among oil cos. Historically the BPs & Shells have always to my mind been rather short-term, perhaps with good reason. These days, it's Oilexco, Apache, Talisman & the like. Will they take a longer term view? Only time will tell I guess.

One thing that may be different these days is many local cos. & much more global & international in their outlook. Perhaps the view that Aberdeen is a place that worldwide projects can be driven from (due to local knowledge/expertise) may help cushion the blow somewhat. Then again, maybe contracts will be curtailed & deferred.

However it is to me proof that diversification (be it The Thatched one or whoever) is needed & should have been progressed long ago.

Or maybe I am altogether too pessimistic - would be interested to see what you all think. But I see ABZ traffic - BOTH intl & domestic - continues to fall in the month just past, of course we're not alone in that. And not on all routes I guess, but an overall fall nevertheless.
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