MercoPress. South Atlantic News Agency
Falkland Islands as oil-producing country: boon or blight?
For some, the prospect of the Falkland Islands becoming an oil-producing country creates exciting visions of opportunity, while for others it seems like a nightmare. What is certain is that oil, like sheep and fishing before it, will inevitably bring changes to both our wealth and our way of life. Read full article
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Disclaimer & comment rules“hopefully leading to the extraction of the first oil from the Sea Lion Field in 2017”
May 03rd, 2013 - 03:57 am - Link - Report abuse 02017 is now hopefully?
Meeting video
http://www.youtube.com/watch?v=O1CfI5uh02U
@1 Marcos
May 03rd, 2013 - 06:39 am - Link - Report abuse 0Jealous much?
Nothing in the oi business is certain, anyone with half a brain knows that.
It just kills you to know that one day the Falklands Islands will become rich and prosperous, doesn't it?
Never mind you can continue to support Argentina a failing 'never was' country mired in its own 'fictional' past.
A country that has huge natural resources that should make it ne of the richest countries on the planet, but is run by a bunch of selfish gangsters who spend all their time in office stuffing their own bank accounts with US dollars, whilst diverting the gullible masses with the fictional past.
The problem is that one day the masses will stop being so gullible and will rise up and remove the gangsters.
It's going to happen, and argentina will eventually turn up on the FIG's doorstep 'cap in hand' asking forgivness, and if there's any chance of the FIG putting some buisness their way.
May 03rd, 2013 - 06:42 am - Link - Report abuse 0Wait and see.
”FIG annual average estimated income over this thirty-year period is estimated at a healthy £150 million at £100 per barrel (£110 million at £80 pounds per barrel).”
May 03rd, 2013 - 07:33 am - Link - Report abuse 0ha ha ha A supermarket in Argie land will make more revenues than that.
Are these people living in planet earth?
#4
May 03rd, 2013 - 10:59 am - Link - Report abuse 0ha ha ha A supermarket in Argie land will make more revenues than that.
Of course you are talking of Argentinian pesos, or will you be using the Basutoland mung bean for your currency by then.
@4 Dany
May 03rd, 2013 - 11:24 am - Link - Report abuse 0Yes, in the grand scale of things, £150m is not a great deal of money. But for 3,000 people, that is a huge sum.
£150m (Oil) + £35m (standard FIG revenues) = £185m
£185m / 3,000 (FI people) = £61,000 per capita - That is a lot of wealth to spread around! Lucky Falkland Islanders!
On a similar point, Argies please notice who commissioned the report and who will benefit from the oil and gas windfall... hint...the Falkland Islands. Not 'England' as you people say.
DanyBerger there is a difference between turnover of a supermarket which probably makes about 3 percent profit and £150 million every year shared out between 3000 people.
May 03rd, 2013 - 11:27 am - Link - Report abuse 0You are really stupid... We call you a dolt!
Use the money wisely and generations to come will thank you
May 03rd, 2013 - 11:34 am - Link - Report abuse 0Oh! boys that is a miserable amount of money.
May 03rd, 2013 - 01:08 pm - Link - Report abuse 0As I said before a supermarket in great Buenos Aires make more money that the entire FI.
They get average 10.000 client per day. can you see how insignificant you are?
Now please rise some money to buy a pair of socks for Dick because the last time was really an embarrassment when visit Willy Hague.
http://en.mercopress.com/data/cache/noticias/39288/0x0/the-empty-chair.jpg
Danny really has no concept of per capita does he.
May 03rd, 2013 - 01:24 pm - Link - Report abuse 0@DanyBerger Instead of talking stupid go and think how you can make the life and living standards of the millions of Argentines that have to live on less than $7 a day over 10 million people better
May 03rd, 2013 - 01:31 pm - Link - Report abuse 0Benson
May 03rd, 2013 - 01:33 pm - Link - Report abuse 0Dany believes Kenya, Peru and Argentina have lower rates of poverty than Australia.
Says it all really!
You are an endearing person, aren't you Dany? Well, that insignificant amount of money will transform the Falklands with its tiny population. If £25m per annum from Fisheries provided the Falklands with free health and education up to university level (and many other benefits), can you imagine what a £150m per annum would do for us?
May 03rd, 2013 - 01:39 pm - Link - Report abuse 0While Argentina struggles with inflation, exchange rates, militant unions, media controled by the government, large national debt, an increasing autocratic leadership and mass corruption, the Falklands has secured its economic future for 25+ years.
While you boast about Argentine supermarkets and the revenue they generate, I would much rather be in the Falklands, than the economic mess that Argentina continues to plunge itself in.
I look forward to more of your inane comments.
@13 DB is “selective”. Read the article. It says “Falklands GDP, which is at present around £140 million would have leaped to just over £1 billion”. That's not £150 million, it's an increase of approximately £860 million. But DB isn't allowed to read that bit! Are argie supermarkets making much money with the government-imposed price freeze? What happens when the price freeze ends? The supermarkets set out to recover the money they lost. So inflation will jump and argies will starve. It's all fun in argieland. As you move into winter, argies will be turning to salads.
May 03rd, 2013 - 02:01 pm - Link - Report abuse 0Article says….:
May 03rd, 2013 - 03:10 pm - Link - Report abuse 0”According to scenario 1, if crude oil were to be worth $100 a barrel in 2018, the Falklands GDP, which is at present around £140 million would have leaped to just over £1 billion and would not return to current levels till around 2045.
I say….:
Regeneris and Mr Nichol’s *U$S100* a barrel ”Scenario 1” is set to start working in the Lords Year of 2018….......until 2045......
That is 5 (five) years from now…………and for almost 30 years in the future.
I wonder if Regeneris and Mr Nichol’s ”Scenario 1” included a bit of history about oil prices for the English Kelpers……
Any English / Kelper in here knows what the median world oil price has been in the last 40 years (1970 – 2011) ????
U$S 100.00 per barrel???.................... Nope….
U$S 80.00 per barrel??..................... No, try again…..
U$S 32.50 per barrel?..... Juppppp, thats right…..: U$S 32.50 per barrel.
http://www.wtrg.com/oil_graphs/oilprice1970.gif
”Prices in the mid $30s seem exceptionally low by today's standards. However, when the current President of the United States took office the price was $35.00 per barrel. By the end of 2009 prices had doubled bringing the average for 2009 to $56.35 or $57.00 in 2010$.”
http://www.wtrg.com/oil_graphs/oilprice1970.gif
Brainwash anybody?
#15
May 03rd, 2013 - 04:10 pm - Link - Report abuse 0If they had to eat seaweed then I am sure they would rather do that than have anything to do with Argentina.
Nobody has a clue as to what the oil market will be in 5 years time. Their scenario is equally valid to yours.
I understand that your job is to throw the worst possible light on any news about the Falklands which you consistently do.
However, that does not make it true.
(16) Clyde15
May 03rd, 2013 - 05:03 pm - Link - Report abuse 0You say...:
“Nobody has a clue as to what the oil market will be in 5 years time. Their scenario is equally valid to yours.”
I say...:
Nobody has a clue as to what the oil market will be in 5 years time, that's correct.....
But their “Scenario” is not at all equally valid to mine......
Firstly, because I haven't presented any “Scenario” just true, verifiable facts about oil price variations.......
Secondly, because I don't posess the necessary English Chuzpah to sell a “Scenario” assuming stable oil prices for the next 35 years to them squatting Kelpers.......
#17 Not worth a reply.
May 03rd, 2013 - 06:30 pm - Link - Report abuse 0TWIMC
May 03rd, 2013 - 06:41 pm - Link - Report abuse 0Meanwhile, in the City of London……………… the shares of Rockflopper Exploitation fall to their lowest level since the “Sealion Discovery” in May 2010…………..
Brainwash anybody?
@19 stink................. jealous anyone?
May 03rd, 2013 - 08:43 pm - Link - Report abuse 0Think- are you in ther same brainshortage as marcos? - I thought better of you. RKH are no Longer key Players - Premier Oil are.
May 03rd, 2013 - 09:06 pm - Link - Report abuse 0Quite normal to me for companies - during periods of inaction - like RKH - to have a depressed share value.
Maybe wait and see what starts to happen late 2014 when drilling etc restarts in thier areas.
“A country,” says the writer. jaaaaaaaaaaaaaaa!!!!!
May 03rd, 2013 - 09:08 pm - Link - Report abuse 0Did Think just attempt to downplay the price of oili n the future by quoting a median price based on the past 43 years?
May 03rd, 2013 - 09:21 pm - Link - Report abuse 0An median oil price that included 1970...... back when the world had only 3.7 billion people and China's GDP was comparable to Italy?
Income might be lower than estimates, but it will still be income.
Income the islands don't have now.
Estimates are estimates. So the price of oil extracted from FI might be an estimate, but it is a guarantee that Argentina won't be earning the royalties.
If he is asking, it is a blight
May 03rd, 2013 - 11:20 pm - Link - Report abuse 0If it is, it's a blight that YPF would dearly love to catch!
May 04th, 2013 - 06:11 am - Link - Report abuse 0So taking a more real scenario based on statistics from the past FI will not have even a GDP of 300m.
May 04th, 2013 - 07:55 am - Link - Report abuse 0Lest say 3 Arg supermarkets, ha ha
Anglotino
May 04th, 2013 - 08:41 am - Link - Report abuse 0Yes, Think really did try and use the median price since 1970. What a dumbass.
But there again, it's typical Argie economics. Think calculates the cost to buy food and fuel for his home based on median price since 1970, and then spends the rest of his cash..then he realises that he's run out of money as it was a ridiculous analysis given rabid inflation and grossly changed macroeconomics.
Think now has a massive shortfall so he borrows from a third party (but doesn't change his analysis). The next month he has another shortfall and can't make his loan repayment, so he claims he was “tricked” into the loan and the fuel and food costs are because of the “boogie man”. he then refuses to pay his loan.
By the third month, he's lost his job, can't afford the fuel or food irrespective of the median price, can't afford the loan or the default on the loan, so then makes up a fictitious claim on his neighbours house and sets fire to their front lawn.
What a loon...but typical Argie.
(26) DanyBerger
May 04th, 2013 - 11:34 am - Link - Report abuse 0You say….:
So taking a more real scenario based on statistics from the past FI will not have even a GDP of 300m.
I say:
Not quite so, Mr. Berger…….
Based on a more realistic scenario, taking into account statistics from the past and the cyclical nature of oil prices; the English Pirates Oil Adventure in the South Atlantic has a very good chance of being a “No Starter”……
Leaving them Islands with their current GDP of ~£140 million …..
That will be the moment when Argentina will tighten its grip on the tourist and fishing industries that provide nearly 70% of the above mentioned GNP….
Argentina is out of this game, they blew it, a paper Tiger now, bunch of failed pirates with empty threats.
May 04th, 2013 - 12:02 pm - Link - Report abuse 0Work already started on infrastructure in the Falkland Islands, Premier working on FPSO options, all good for 2017.
Well Argentina with inflation at 30% and increasing, peso at 10cents and decreasing, YPF importing more than ever, pissing off Brazil and Uruguay pulling investments out, etc, etc... What will THEY be looking like in 2017?
@4
May 04th, 2013 - 11:13 pm - Link - Report abuse 0“supermarket in Argie land will make more revenues than that.”
Really?
@Pete Bog
May 05th, 2013 - 09:08 am - Link - Report abuse 0Yeah really “Pete” supermarkets sector total revenue in 2011 was USD 22bn in Argentina.
And they invested annually in between 300 to 500m USD.
http://www.americaeconomia.com/negocios-industrias/argentina-ventas-en-supermercados-aumentaron-277-en-2011
Carrefour $17bn revenue in 2011
Coto $11.7bn revenue in 2011
http://www.americaeconomia.com/negocios-industrias/argentina-ventas-en-supermercados-aumentaron-277-en-2011
TWIMC
May 05th, 2013 - 09:17 am - Link - Report abuse 0Seems to be, that quoting the “Median Oil Price” of the last forty years is too much for some of our posters…..
Apparently, the Young Ones can’t “Think” so far back in time as the Vietnam War…..
Let’s take the average Oil Price for the last twenty years then....., shall we?
http://www.ioga.com/Special/crudeoil_Hist.htm
1992: $19.25
1993: $16.74
1994: $15.66
1995: $16.75
1996: $20.46
1997: $18.97
1998: $11.91
1999: $16.55
2000: $27.40
2001: $23.00
2002: $22.81
2003: $27.69
2004: $37.41
2005: $50.04
2006: $58.30
2007: $64.20
2008: $91.48
2009: $53.56
2010: $71.21
2011: $87.04
2012: $84.46
Average oil price 1993-2012 = $37,98
Juppppp.. NOT $100.00.. NOT $80.00….........… Just $37,98-
And we are, as the Yanks so elegantly put it, in the midst of the Freaking Fracking Oil Revolution…..
One Billion GNP in Malvinas on 2018…., my left foot…..
Brainwash anybody?
Whatever, Think, whatever.
May 05th, 2013 - 10:42 am - Link - Report abuse 0But you & your failed country won't get your greasy hands on any of it.
So why are you worried.............er, interested?
Jealous, maybe?
(33) Chère Isolde
May 05th, 2013 - 11:25 am - Link - Report abuse 0My hands are not greasy!!!
As a matter of fact their long sleek fingers and their strong, dry, assuring grip have been praised by females of four continents.....
;-)))
You're making idle boasts now, Cher Think.
May 05th, 2013 - 12:30 pm - Link - Report abuse 0And you still won't get OUR oil or OUR country.
Yes, we will ...
May 05th, 2013 - 12:32 pm - Link - Report abuse 0Nyet...
May 05th, 2013 - 09:53 pm - Link - Report abuse 0Poor old “Think” has confused himself quite a lot in this thread hasn't he?
May 06th, 2013 - 10:10 am - Link - Report abuse 0Firstly, his claim to have pleasures women from four continents is clearly a typo. He meant to say that he has pleasures four incontinent women.
Secondly, his “Argie” economics. The global oil price (Brent crude) has more than trebled over the past decade, and held that increase for 5 years plus. “Think” believes this is an indication that the oil price is bound to crash over the next ten years and return to pre-2003 prices. You can see how these Argies get themselves into these massive debts that they default on with dickishness like that....
Thirdly, he thinks Argentina will “get their hands” on Falklands oil. That made me laugh a lot, they we offered a share and Nestor ripped it up...ho hum..all gone, Cape Town here we come. However, ifArgentina should like some cheap gas around 2025 after yet another default, an economic crash, and the Kirchners just another “wasn't me” group to blame in Argiehistory...no problem.
Interestingly, even using just scenario 1 (not “thinks” Argie economics, or in fact the likely significant increase in Brent crude between now and 2030), from just Sealion alone (using deidreoverdovers plan of just spending the interest), the FIs will have a large national reserve then Argentina by 2035.....how fucking funny is that??
Comment removed by the editor.
May 09th, 2013 - 05:00 pm - Link - Report abuse 0Commenting for this story is now closed.
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