Sputnik: "Real Problem" Behind North Sea Oil And Gas Industry Is Not What You Think
There is growing concern over the future sustainability of the North Sea oil and gas industry with the head of a UK industry group saying that a rise in the current price of oil alone will not save Britain's oil and gas trade.
Speaking to a range of business and government officials at a meeting in Aberdeen, Oil and Gas UK CEO Malcolm Webb said that difficult business conditions had left the industry at "great risk," with the falling oil prices not to blame entirely for the slump in the industry locally.
"It is vitally important that we don't delude ourselves into thinking that the real problem is the price fall and that all will be well when the oil price comes back," Webb said.
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