It was most amusing to read Gordon Harmer’s attempt (‘Conspiracy theories’, SN 3/8/14) to debunk Douglas Young’s letter, linking West of Shetland oil finds/reserves and the PM visit. He assumed that this was about Whirlwind/Lancaster which is indeed no secret.
It is possible that Douglas was referring to another rumoured big extension to reserves in the Clair area.
He attempted to show that the use of this information was tantamount to the manufacture of a conspiracy to enhance the Yes campaign’s argument.
He then declared his disbelief in conspiracy theories.
Gordon then went on to develop his own conspiracy theory – in which I presume he does not believe – namely that the oil companies conspire to keep the price of oil within a range that suits their interests.
It’s not too many years since crude oil dropped to less than 10 dollars a barrel, hardly to their liking, with the oil companies unable to influence the price in any way. World economics and markets are unpredictable, beyond any oil company or even any government’s influence, and behave in unpredictable ways.
In truth, in the extremely unlikely event of a field even as massive as Gwahar being found West of Shetland, it would only have a marginal effect on the price of crude, as world production vastly outstrips what any one field can produce.
Become a supporter of Shetland News
Shetland News is asking its many readers to consider start paying for their dose of the latest local news delivered straight to their PC, tablet or mobile phone.
Journalism comes at a price and because that price is not being paid in today’s rapidly changing media world, most publishers - national and local - struggle financially despite very healthy audience figures.
Most online publishers have started charging for access to their websites, others have chosen a different route. Shetland News currently has over 400 supporters who are all making small voluntary financial contributions. All funds go towards covering our cost and improving the service further.
Your contribution will ensure Shetland News can: -
- Bring you the headlines as they happen;
- Stay editorially independent;
- Give a voice to the community;
- Grow site traffic further;
- Research and publish more in-depth news, including more Shetland Lives features.
If you appreciate what we do and feel strongly about impartial local journalism, then please become a supporter of Shetland News by either making a single payment or monthly subscription.
Support us from as little as £3 per month – it only takes a minute to sign up. Thank you.Support Shetland News