Tony Mackay


High oil prices and the economic recession

SOME people used to call me Dr Gloom because of my economic forecasts for the Scottish economy. I felt that was unfair because I have actually had an accurate forecasting record over the last decade and rarely been more pessimistic than the actual outcomes.


Alarming decline in UKCS production

THE latest UKCS oil and production statistics from the Department of Energy and Climate Change (DECC) show big falls. June's output averaged 946,982 barrels per day, which was down 12.4% on June 2010. Gas averaged 4,004million (4billion) cu.ft, down 26.5% year on year.