(English) Welsh Oil Discovery

The Douglas oil complex, 15 miles off the North Wales coast. Image by Ian Mantel - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=50535836

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Un sylw ar “(English) Welsh Oil Discovery

  1. This is fascinating; and good to know, but heaven help us if Welsh Labour got their hands on it. After all, they are led by a Jeremy Corbyn acolyte, and we all know how much Jeremy Corbyn admired Venezuela’s approach to its oil wealth and what Venezuela is like today.

    I make 225 million barrels at the current oil price to be just under £10 billion in total, so it would be worth at most a few billion pounds into the Welsh exchequer over however many years it would take to extract. Better than a poke in the eye with sharp stick, but not completely transformative. Even so, if spent wisely it would definitely help patch up some of the damage that Labour has done to our economy over the last twenty years and set us on the right track.

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