Saturday, 8 May 2010

Will This Help Save the Economy?



Oil has been struck in the Falklands where the find could yield more than 450 million barrels of what is called 'black gold'.

Shares in the UK-backed Rockhopper Exploration more than doubled after it announced the find yesterday 140 miles north of the islands.

Our North Sea oil income has been squandered over the last 30 odd years.

I wonder how the income from this nice little earner will be wasted by whoever achieves the keys to No 10?

29 comments:

wisnaeme said...

That will upset the Argies.

Mrs Rigby said...

Ditto wisnaeme.

Thing is we don't really have a working Navy any more, so ...

Jayce Kay said...

Why not use whatever revenue generated from its sale toward the eventual cost of us getting off fossil fuels and over to something a little bit more sustainable?
You know, nuclear, tidal, solar?
Just a thought.

Oldrightie said...

More likely kick off another war we can't afford, especially if Squatter Snotty stays.

Sandy said...

The possibilities for this to go horribly wrong are endless.

No doubt Snotty is exploring them from his bunker at this very moment.

(( wv ranti - how apt ))

Sophia Pangloss said...

Frankly it's no oor oil, no that far awa. Not worth a single life, niver mind a war wi' the entire Sooth American nation.

Oil is found way underground, fer good reason. Leave it there.

subrosa said...

They were upset before it was actually discovered wisnaeme. They're bound to be really upset now.

subrosa said...

I'm not sure if the ship we sent out there a few months ago is home Mrs R. Someone will tell us I'm sure.

subrosa said...

That's an excellent idea Jayce, but it's too sensible for politicians to approve don't you think?

subrosa said...

Oh OR, don't say that. Mind you if Brown stays he would think nothing of starting another war. He likes wars. They make him feel important.

subrosa said...

Sophia, I was thinking, can't England now keep the Falklands oil and we keep ours - then we will both be happy.

Apogee said...

And there was me thinking it was Falklands oil, as in belonging to.
Well , the Falklanders think so!

engliscdragon said...

Falkland islanders are going to be very wealthy people indeed.

Billy said...

Somehow I think this will be going through the courts soon.

Argentina has the support of the entire South American continent now and it seems the US etc as well.

Don't think the Argentinians will have to fight physically for the islands this time they will get them through international law.

Crinkly & Ragged Arsed Philosophers said...

The sensible thing would be for England and Argentina to come to some sort of sharing agreement.

But that won't happen, because Argentina knows England is now too wee, too skint and too knackered to bother negotiating with.

forfar-loon said...

SR, given that the islands were named after a Scot and settled after the Act of Union one could justifiably argue that Scotland is entitled to a fair share of any revenues if/when independence comes.

subrosa said...

Pity the poor Falklanders then Apogee because I don't see Westminster letting this out of their clutches.

subrosa said...

They'll be comfy englisc, purely to keep them sweet.

subrosa said...

And how many millions will the court case cost us Billy? That aside, I'm not sure of the legalities of this but I do believe the oil is in British waters.

Kind of similar to that off Scotland, you know, Scottish waters = British waters.

subrosa said...

Aye, as Billy says Argentina has a lot of weight behind it.

There's been little said about it on the MSM RA. I wonder why.

subrosa said...

We're entitled to nothing forfar-loon, just the handouts they wish to give us. We'll get nothing from this no matter how Westminster is composed.

I'd rather we just kept our own oil and let others keep this new discovery.

CrazyDaisy said...

SR

2 Navy ships in situ, oil cannot Be extracted for another 5 - 10 years.

The Falklands belong to those who live there. They are neither British or Argentinian.

No court case as The Falklanders iaw UN Human Rights convention are entitled to self determination as we Scots are.

Falklands have negotiated a percentage of the profit and will now be able to pay for defence!

Land was increasing in value, 1 house prior to Xmas and Feb 10 increased £40k in value.

Goodluck to them.

CD

subrosa said...

Thanks for the information CD. I was going to ask you but I know you're busy.

Why are the British involved at all then? For defence purposes only? It does seem like it.

Quiet_Man said...

It's a British Overseas Territories SR, means we are obliged to protect them until they ask to go their own way, something they've never asked for. (Originally the place was a coaling station for the Royal Navy)

subrosa said...

Surely we have some claim on the oil then QM.

You've just reminded me about that. I read that a long time ago. Thanks.

CrazyDaisy said...

SR

QM is correct, we provide defence and political guidance regarding how the administration is run, which is why they have an FCO appointed Governor and a senior civil servant who "guides" the Elected Legislative Assembly.

I'm never too busy to answer questions, I have an opinion as much you or anyone else. Unfortunately I don't have all the facts but I can give clarity to certain issues that relate to defence that can be emotive. ;)

Back from Napoli now! Looking fwd to seeing Broon forcibly retired, AM this morning had the EBC defending him and saying he should do it with dignity. Time the UK manned up and started holding political incompetents accountable for their decisions - be they financial, foreign policy or moral decisions; instead of weak individuals and those lacking courage and genuine integrity to make us cruelly suffer!

CD

subrosa said...

So how is the Falklands funded then CD? Are they independent and just pay us for our services? I must look into this further.

Brown will hang on until he's physically ejected I think. He has no dignity left.

This is a good situation for Scotland. It shows the divide between the rest of the UK. The SNP could capitalise on it.

CrazyDaisy said...

Madame

They have been until late funded by the sale of Fishing Permits for the EEZ this includes boats from the Pacific! The rest is funded by their taxes from tourism and farming, UK plc picks up the rest.

CD

subrosa said...

Sir, what is the percentage of their GDP that the UK provide?

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