IT SEEMS that whenever any politicians discuss the oil industry, they studiously avoid a crucial issue (Brian Wilson, Perspective 31 May). Wouldn’t the economy, whether Scottish or UK, benefit greatly if oil and gas prices were lower? A recent report on shale oil suggests that global oil prices could be “pushed down by 25-40 per cent”. The question must be asked whether or not the North Sea could cope with this price.
It would be crazy economics if our politicians tried to “buck the markets”. Wasn’t it once said that, to get the politics right, you must first get the economics right?
Arguably decisions on fracking must be based on the global oil market and not on the “market for votes”.
Old Chapel Walk