In the News

Falling oil prices and disappearing rigs

7th February 2016

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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.

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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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Teaching Economics

Falling oil prices and disappearing rigs

Graham Watson

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