Sorry Capt D, but I think this downturn will be worse than the 1986/7 one which was the first 'shock' for this area if I recall correctly. The speed of the fall in oil prices this time has surprised even me... but some analysts did correctly predict a fall when shale oil in the US boomed. To think some were predicting $150 & upwards!
This time, it's come at the worst possible time - high operating costs vs. aging oil provence. The (relative) peanuts being belatedly offered to Big Oil UK by Govt will have only limited appeal. They're not interested in what goes on up here. They keep consulting, then conult about consulting, thus kicking the issues - the preverbial oil can - down Dyce Drive.
Once upon a long ago $60 oil would not have been a barrier. Today, it's making many fields uneconomic, both those in production and those proposed.
I laughed at all those new industrial units, business units, housing developments and hotels being thrown up in a panic or proposed. Talk about overkill! Who's going to fill them?? Who will fill them now??
Yes, ABZ is nearly wholly reliant on the oil industry. The fall off will affect every nook & cranny up here, and ABZ will not be immune from it. HAH will be relieved they sold up when they did!
Least we may not need another baggage carousel...
