Oil's plunge dents prospects for Scottish independence
Edinburgh, Scotland
THE Transocean Winner, a rig filled with more than 300 tonnes of diesel and weighing 18,740 tonnes, broke away in an August storm to drift onto the rocks on the Isle of Lewis, in far western Scotland. The huge semi-submersible oil rig detached in rough seas from a tug trying to take it to Malta, and amid worries about pollution, looked massive and forlorn as salvage crews tried to free it and refloat it.
But the Transocean Winner, both in its plight and in its journey away from the North Sea, is a symbol of Scotland's growing problem. At the same time that North Sea production slips and oil and gas become harder and more expensive to extract, the price of energy has fallen sharply.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons