Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Dougal Shand who wrote (25966)	7/19/1998 11:55:00 AM
From: Big Dog	Read Replies (1) of 95453

The decline in UK sector oil drilling is in no small part due to the ongoing discussion about taxes. The govt thinks oil compaines are getting too goo of a "deal" and want to raise royalties. The oil companies are pointing to the decline of oil prices in hopes to avoid the royalty increases. To further support their position, they are not hiring drilling rigs and are postponing projects. (You can't hardly sing the blues about how little money you are making and then carry on with all your big expensive projects. Plus the slow down affects the economy and puts the people more on the side of the oil companies.) I don't know when this will be resolved, or in which direction it will go. big jump.to

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