{"id":5429,"date":"2015-02-08T09:12:51","date_gmt":"2015-02-08T14:12:51","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5429"},"modified":"2015-02-08T09:12:51","modified_gmt":"2015-02-08T14:12:51","slug":"bitter-economic-winds-hasten-oil-industrys-retreat-from-the-north-sea","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5429","title":{"rendered":"Bitter economic winds hasten oil industry\u2019s retreat from the North Sea"},"content":{"rendered":"

Bitter economic winds hasten oil industry\u2019s retreat from the North Sea<\/a><\/h3>\n

Shell\u2019s decision to begin dismantling operations in the famous Brent field is a striking example of the global impact of falling oil prices<\/span><\/strong><\/p>\n

F<\/span><\/span>or one oil industry veteran, the dismantling of the Brent oil field in the North Sea prompts mixed feelings. There is gratitude for the livelihood earned from Britain\u2019s post-war energy boom. And relief that it means farewell to \u201chell on Earth\u201d.<\/p>\n

\u201cBrent kept me and my family in gainful employment, so I have something to be grateful for, but these platforms are from an era long gone,\u201d says Jake Molloy, 55, who was a production assistant on the Brent Delta platform.<\/p>\n

Describing the structure, which Shell plans to remove from the North Sea, Molloy adds: \u201cPutting people down platform legs [which store pumps and vessels] is really bad. You could climb down thousands of steps to the bottom with 40 pounds of breathing apparatus on your back only for the alarms to go off and you had to go all the way back again. It was the worst working environment \u2013 horrendous, hell on earth.\u201d<\/p>\n

Shell\u2019s announcement that it\u00a0plans to remove the platform<\/a>\u00a0was just one of many symbolic retreats staged by the oil industry last week. A day after the Brent proposals, Shell\u2019s rival BP said it was taking a $4.5bn (\u00a33bn) hit in its quarterly accounts to pay for the cost of bringing forward the closure of some unprofitable UK fields, partly due to lower oil prices.<\/p>\n

Situated 115 miles east of the Shetland Islands, Brent is estimated to have produced 10% of all North Sea oil and gas while generating \u00a320bn of tax revenues since it opened in 1976.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Bitter economic winds hasten oil industry\u2019s retreat from the North Sea Shell\u2019s decision to begin dismantling operations in the famous Brent field is a striking example of the global impact of falling oil prices For one oil industry veteran, the dismantling of the Brent oil field in the North Sea prompts mixed feelings. There is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[2272,3332,93,3331,588,1775,2100,3333],"class_list":["post-5429","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-bp","tag-brent-field","tag-britain","tag-north-sea","tag-oil","tag-oil-price-collapse","tag-shell","tag-uk-oil-fields"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5429"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5429\/revisions"}],"predecessor-version":[{"id":5430,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5429\/revisions\/5430"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}