tutor2u | Falling oil prices and disappearing rigs

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Falling oil prices and disappearing rigs

Graham Watson

7th February 2016

This BBC article puts the impact of low oil prices in a Scottish context, suggesting that the current price levels are such that a number of rigs are going to be shut down in the near future. This, of course, will have a negative multiplier effect and cause structural unemployment, although the decommissioning of rigs will create work for some.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.

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