Danger: North Sea May Drop Out of Top Oil-producing Regions List

[Marina Schwarz + 1,576]

"Scotland’s oil and gas sector stands at a “crossroads” with the North Sea in danger of losing its status as a major player in the field, a report has warned. A downturn in exploration for new deposits and a fall in investments has put a potential revival in the industry at risk, Oil & Gas UK said. It predicted that if the current status quo continued, post-2020 production would slip considerably."

I see how this would be an economic problem but a little forward thinking never hurt anyone, ye ken.

[Jan van Eck + 7,558]

To the extent that the material being extracted is being used as heating fuel, or for electricity generation, the Scots would be better advised to build Gen. IV nuclear reactors.  Interesting that nobody is thinking along those lines. 

 A Gen IV nuclear reactor should be able to produce electricity below 3.5 cents (per kwhr), and probably lower, likely even below 3 cents.  Hard to get to those numbers burning oil.