| Reference in text | Source – name | Source – details | Source – link | Retrieved on |
| downturn in oil feeds into the rest of the economy | Energy Downturn Spreads Beyond the Oil Patch | The Wall Street Journal – Nov 2015 | http://www.wsj.com/articles/energy-downturn-spreads-beyond-the-oil-patch-1448325898?mod=e2tw | 12/10/2015 |
| quarter of a million job losses | Worldwide oil job losses climb to 233,000, recruiter says | Fuel Fix – Nov 2015 | http://fuelfix.com/blog/2015/11/17/worldwide-oil-job-losses-climb-to-233000-recruiter-says/#36515101=0 | 12/10/2015 |
| British firms subject to takeover by foreign companies | US buyers eyeing struggling North Sea oil and gas firms | EnergyVoice – Dec 2015 | https://www.energyvoice.com/marketinfo/96026/us-buyers-eyeing-struggling-north-sea-oil-and-gas-firms/ | 12/23/2015 |
| amount of tax paid | Economic Contributor | Oil and Gas UK – undated | http://oilandgasuk.co.uk/knowledgecentre/economic-contribution.cfm | 12/3/2015 |
| Public sector deficit, national debt | Public Sector Finances, April 2015 | ONS – Apr 2015 | http://www.ons.gov.uk/ons/publications/re-reference-tables.html?edition=tcm%3A77-362670 | 12/4/2015 |
| oil and gas trade deficit benefits and £14 billion plus annual investment | UK oil and gas industrial strategy: business and government action plan | gov.uk – Mar 2013 | https://www.gov.uk/government/publications/uk-oil-and-gas-industrial-strategy-business-and-government-action-plan | 12/21/2015 |
| UK’s balance of payments deficit is £72.4 billion | United Kingdom Balance of Payments – The Pink Book, 2014 | Office of National Statistics (ONS) – Oct 2015 | http://www.ons.gov.uk/ons/rel/bop/united-kingdom-balance-of-payments/2015/index.html | 12/4/2015 |
| North sea production has been in decline for some time | DUKES Chapter 3: Petroleum | gov.uk – Jul 2015 | https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/447630/DUKES_2015_Chapter_3.pdf | 12/4/2015 |
| UK oil production decline | Oil Statistics | gov.uk – Jul 2015 | https://www.gov.uk/government/collections/oil-statistics | 11/26/2015 |
| 15-16.5 billion barrels under the North Sea, Call for the drop in oil prices to be passed on | Danny Alexander’s speech at the EI Aberdeen, Highlands and Islands branch annual dinner | Energy Institute – Nov 2014 | https://www.energyinst.org/documents/3255 | 12/21/2015 |
| Calls for tax breaks for oil and gas | Video: Craig Group boss says Budget must support investment in North Sea drilling | Energy Voice – Jul 2015 | https://www.energyvoice.com/oilandgas/81572/video-craig-group-boss-says-budget-must-support-investment-in-north-sea-drilling/?utm_source=Adestra&utm_medium=email&utm_campaign=daily%20newsletter%20new | 12/21/2015 |
| The chancellor acts to support the North Sea oil and gas industry | Proposals for further fiscal and economic devolution to Scotland (at time 12:34:20) | Treasury Select Committee – Jan 2015 | http://www.parliamentlive.tv/Main/Player.aspx?meetingId=17038&player=silverlight | 12/21/2015 |
| Tax breaks for oil and gas | Budget 2015: tax breaks for North Sea oil industry | The Telegraph – Mar 2015 | http://www.telegraph.co.uk/finance/budget/11480374/Budget-2015-tax-breaks-for-North-Sea-oil-industry.html | 12/21/2015 |
| Disappointing budget for oil and gas | North Sea oil drillers get soundbites not tax cuts in Budget | The Telegraph – Jul 2015 | http://www.telegraph.co.uk/finance/budget/11726706/North-Sea-oil-drillers-get-soundbites-not-tax-cuts-in-Budget.html | 12/21/2015 |
| 50% of EUR takes place in the first three years | Annual Energy Outlook 2014 | EIA – Apr 2014 | http://www.eia.gov/forecasts/AEO/pdf/0383%282014%29.pdf | 12/21/2015 |
| Contango and backwardation | Contango Vs. Normal Backwardation | Investopedia – Mar 2007 | http://www.investopedia.com/articles/07/contango_backwardation.asp | 12/17/2015 |
| Oil in storage EIA | Short-term energy outlook – Global Petroleum and Other Liquids | EIA – monthly report | https://www.eia.gov/forecasts/steo/report/global_oil.cfm | 12/17/2015 |
| Oil in storage IEA | Monthly oil data service (MODS) | IEA – commercial reports | https://www.iea.org/statistics/mods/ | 12/7/2015 |
| Left and right agree that oil was put in storage | The US has so much oil that it’s running out of storage | Business Insider – Mar 2015 | http://uk.businessinsider.com/the-us-has-so-much-crude-that-it-is-running-out-of-places-to-put-it-2015-3?r=US | 12/21/2015 |
| Left and right agree that oil was put in storage | Another Big Reason to Think Oil Prices Aren’t Going Up Soon | Bloomberg – Feb 2015 | http://www.bloomberg.com/news/articles/2015-02-20/another-big-reason-to-think-oil-prices-aren-t-going-up-soon | 12/21/2015 |
| oil stocks would stretch from Edinburgh to London | #Oil stocks have swollen to 3bn barrels: put that into one supertanker after another, and the lines stretches 530km | @JavierBlas2 via Twitter – Nov 2015 | https://twitter.com/JavierBlas2/status/667235409601130497/photo/1 | 12/10/2015 |
| Shutting wells can result in the loss of leases | Collapsing Oil Prices Are Forcing Small US Producers To Shut Down Wells | Bloomberg – Jan 2015 | http://uk.businessinsider.com/r-us-oil-well-shut-ins-start-as-crude-rout-batters-small-producers-2015-1?r=US | 12/21/2015 |
| BP to reduce investments | BP Reports Fourth Quarter and Full Year 2014 Results | BP [Press Release] – Feb 2015 | http://www.bp.com/en/global/corporate/press/press-releases/fourth-quarter-2014-results.html | 12/21/2015 |
| Chevron to reduce investments | Chevron Announces $35.0 Billion Capital and Exploratory Budget for 2015 | Chevron [Press Release] – Jan 2015 | http://investor.chevron.com/phoenix.zhtml?c=130102&p=irol-newsArticle&ID=2012160 | 12/21/2015 |
| Shell to reduce investments | Shell full year 2014 update: Balancing growth and returns | Shell [Press Release] – Jan 2015 | http://www.shell.com/global/aboutshell/media/news-and-media-releases/2015/shell-full-year-2014-update-balancing-growth-and-returns.html | 12/21/2015 |
| cuts in investment totaled $200 billion | Saudi Vice Oil Minister Sees Price Surge After Cutbacks | BloombergBusiness – Nov 2015 | http://www.bloomberg.com/news/articles/2015-11-09/oil-investment-cuts-at-200-billion-as-saudi-prince-sees-rally | 12/10/2015 |
| low oil prices lead to high oil prices | Oil Prices Have Hit a 10-Year Low. They’re Not Going to Stay There. | foreign policy – Jan 2016 | http://foreignpolicy.com/2016/01/06/oil-prices-have-hit-a-10-year-low-theyre-not-going-to-stay-there/?utm_content=buffer12731&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer | 2/2/2016 |
| reduced rig count | Global Rig Count Continues Steady Decline | OilPrice – Nov 2015 | http://oilprice.com/Energy/Crude-Oil/Global-Rig-Count-Continues-Steady-Decline.html | 12/7/2015 |
| cannibalisation of rigs | Oilfield cannibals: to save cash, U.S. drillers strip idle rigs | Reuters – Oct 2015 | http://www.reuters.com/article/2015/10/07/oil-services-parts-idUSL1N1262UL20151007 | 12/7/2015 |
| US oil imports and its changes | U.S. Imports by Country of Origin | EIA – database | http://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_m.htm | 12/21/2015 |
| 1979 oil shock | Oil Shock of 1978–79 | Federal Reserve Bank of America – Nov 2013 | http://www.federalreservehistory.org/Events/DetailView/40 | 12/21/2015 |
| UK interest rates in the ‘eighties’ | Statistical Interactive Database – official Bank Rate history | Bank of England – database | http://www.bankofengland.co.uk/boeapps/iadb/Repo.asp | 12/21/2015 |
| Russia as largest European producer and one of top three global producers | BP World Energy Outlook | BP – 2015 | http://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html | 12/21/2015 |
| Russian interest rates | Russian banks are set to lose 1 trillion rubles in 2015 | Business Insider – Feb 2015 | http://uk.businessinsider.com/high-interest-rates-push-russian-banks-to-1-trillion-ruble-loss-2015-2 | 12/21/2015 |
| UK petrol and diesel prices | Weekly road fuel prices | gov.uk – published weekly | https://www.gov.uk/government/statistical-data-sets/oil-and-petroleum-products-weekly-statistics | 14/2/2016 |
| WTI prices, US diesel prices, US gas oil prices | EIA short term energy forecase custom data table builder | EIA – Nov 2015 | http://www.eia.gov/forecasts/steo/query/ | 14/2/2016 |
| Brent crude oil prices | BP Statistical Review of World Energy | BP – Jun 2016 | http://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html | 21/09/2016 |
| US CPI | Consumer Price Index | Bureau of Labor Statistics – Sept 2016 | http://www.bls.gov/cpi/ | 21/09/2016 |
| UK CPI | CPI All Items Index | Office for National Statistics – Sept 2016 | https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/d7bt/mm23 | 21/09/2016 |
| how oil and petrol prices breakdown | Understanding Pump Prices | UKPIA – Mar 2015 | http://ukpia.com/docs/default-source/default-document-library/ukpia-briefing-paper-understanding-pump-prices-2015.pdf?sfvrsn=0 | 11/27/2015 |
| UK hydrocarbon excise rate | Rates and allowances: Excise Duty – Hydrocarbon oils | HMRC – Jan 2014 | https://www.gov.uk/government/publications/rates-and-allowances-excise-duty-hydrocarbon-oils | 11/27/2015 |
| UK taxes and the sterling/ dollar exchange rate stopped oil price drops being passed on | Petrol and diesel prices | House of Commons Library – Jan 2014 | https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=8&cad=rja&uact=8&ved=0ahUKEwiC6Kr1wLDJAhWCNxQKHQhoC6AQFghLMAc&url=http%3A%2F%2Fwww.parliament.uk%2Fbriefing-papers%2FSN04712.pdf&usg=AFQjCNGutKmrqVk8q_RnG3hDrPaYC1Ifrg&sig2=6g_DEZyiyczOlP1_y0mOfg&bvm=bv.108194040,d.ZWU | 11/27/2015 |
| Asda slash petrol prices | Asda slash petrol prices to less than £1 per litre | itv news – nov 2015 | http://www.itv.com/news/update/2015-11-27/asda-slash-petrol-prices-to-less-than-1-per-litre/ | 11/27/2015 |
| home heating consumes eighteen million barrels of oil | DUKES Chapter 3: Petroleum | gov.uk – Jul 2015 | https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/447630/DUKES_2015_Chapter_3.pdf | 12/4/2015 |
| convert tonnes to barrels | converting energy units from tonne of oil equivalent to barrel of oil equivalent | Unit Juggler – calculated Dec 2015 | https://www.unitjuggler.com/convert-energy-from-toe-to-boe.html?val=2300000 | 12/4/2015 |
| UK fuel oil and gas oil prices | Monthly and annual prices of road fuels and petroleum products | gov.uk – Nov 2015 | https://www.gov.uk/government/statistical-data-sets/oil-and-petroleum-products-monthly-statistics | 14/2/2016 |
| Nigerian oil production started in 1958 | History of the Nigerian Petroleum Industry | Nigerian National Petroleum Corporation – undated | http://www.nnpcgroup.com/NNPCBusiness/Businessinformation/OilGasinNigeria/IndustryHistory.aspx | 12/17/2015 |
| Provided over 7% of US oil imports | U.S. Imports by Country of Origin | EIA – database | https://www.eia.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_m.htm | 12/17/2015 |
| Flaring in Nigeria | Nigeria loses N174bn to gas flaring — NNPC | Vanguard – Jul 2015 | http://www.vanguardngr.com/2015/07/nigeria-loses-n174bn-to-gas-flaring-nnpc/ | 12/17/2015 |
| Halve the people of Nigeria have no access to electricity | Not Darkest Africa, but Darkest Nigeria – 120 Million Without Electricity | Oilprice – Jun 2013 | http://oilprice.com/Energy/Energy-General/Not-Darkest-Africa-but-Darkest-Nigeria-120-Million-Without-Electricity.html | 12/21/2015 |
| Nigeria spills – number | The Price of Oil – Corporate Responsibility and Human Rights Violations in Nigeria’s Oil Producing Communities | Human Rights Watch – 1999 | https://www.hrw.org/reports/1999/nigeria/nigeria0199.pdf | 12/21/2015 |
| Nigeria spills – clean up | UNEP Ogoniland Oil Assessment Reveals Extent of Environmental Contamination and Threats to Human Health | UNEP – Aug 2011 | http://www.unep.org/newscentre/Default.aspx?DocumentID=2649&ArticleID=8827&l=en#sthash.PSDI9UyJ.dpuf | 12/21/2015 |
| More oil spills every year in Nigeria than in the Gulf of Mexico in 2010 | Nigeria’s agony dwarfs the Gulf oil spill. The US and Europe ignore it | The Guardian – May 2010 | http://www.theguardian.com/world/2010/may/30/oil-spills-nigeria-niger-delta-shell | 12/17/2015 |
| Shell out of court settlement, took three years to improve on initial offer of £4,000 | Shell announces £55m payout for Nigeria oil spills | The Guardian – Jan 2015 | http://www.theguardian.com/environment/2015/jan/07/shell-announces-55m-payout-for-nigeria-oil-spills?CMP=share_btn_tw | 12/21/2015 |
| BP Court ordered settlement | BP Maintains Gulf of Mexico Oil Spill Cost at $43 Billion | Bloomberg News – Oct 2014 | http://www.bloomberg.com/news/articles/2014-10-28/bp-maintains-gulf-of-mexico-oil-spill-cost-at-43-billion | 12/17/2015 |
| Nigeria’s exports fell | Nigeria’s 35m barrels of crude oil remain unsold | The Guardian – Jan 2015 | http://www.ngrguardiannews.com/2015/01/nigeria-s-35m-barrels-of-crude-oil-remain-unsold/ | 12/21/2015 |
| Nigeria tried to sell into asian markets | Nigeria Struggles to Sell Oil Cargoes, Offers Discounts to Asian Buyers | This Day Live – Dec 2014 | http://www.thisdaylive.com/articles/nigeria-struggles-to-sell-oil-cargoes-offers-discounts-to-asian-buyers/198070 | 12/17/2015 |
| Nigeria rebudgeted | Nigeria eyes more budget cuts ahead of poll | The Financial Times – Feb 2015 | http://www.ft.com/cms/s/0/6fd40478-b74c-11e4-981d-00144feab7de.html#axzz3SCYmVI3f | 12/21/2015 |
| Nigeria debt increased | 2015 Budget: Nigeria’s Borrowing Continues | Ventures Africa – Jan 2015 | http://www.ventures-africa.com/2015/01/2015-budget-nigerias-borrowing-continues/ | 12/21/2015 |
| Nigerian borrowing | Nigeria borrows money to pay government salaries | Aljazera – May 2015 | http://www.aljazeera.com/news/2015/05/150506055148505.html | 12/17/2015 |
| The Dutch Disease | The International Monetary Fund | Dutch Disease: Wealth Managed Unwisely – Mar 2012 | https://www.imf.org/external/pubs/ft/fandd/basics/dutch.htm | 12/21/2015 |
| World Bank biofuel impacts (Mitchell) | A Note on Rising Food Prices | Donald Mitchell, published by The World Bank Development Prospects Group, JULY 2008 | http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/2008/07/28/000020439_20080728103002/Rendered/PDF/WP4682.pdf | 12/21/2015 |
| International Food Policy Research Agency | Reflections on the Global Food Crisis, How Did It Happen? How Has It Hurt? And How Can We Prevent the Next One? | BY Derek Headey and Shenggen Fan, publised by the International Food Policy Institute, 2010 | http://www.ifpri.org/publication/reflections-global-food-crisis | 12/21/2015 |
a portfolio of interests
Michelle Spaul 