Some more info on oil

I just checked the UK monthly production of oil for the UK. It appears
that in 2004 the UK will produce about as much oil as it did back in
1992. The final numbers will be out next month but through November,
this terrible result is clear. But my prediction for this year is that
the UK production will drop below the level it produced in 1981 almost
at the start of the UK North Sea production. The rapid drop in
production will be disastrous for the UK government in just another
couple of years.

For those who don't know, the North Sea production was what caused the
oil collapse of 1986 which resulted in me getting laid off twice in a
single year and having to start my own company because I knew I wouldn't
lay me off.

One of the interesting things is that until 2003 the exploration part of
the oil industry had consistently declined in employment since 1981.Each
year brought more layoffs. Last year, 2004 is the first time in 23
years that employment numbers are significantly up from the year
earlier. This says something very important about what is happening in
the world of oil. We are finally hiring more than we are firing.
Received on Fri Jan 28 23:21:01 2005