HomeMagazine2016March 2016, Vol. 243, No. 3In Oil Price Plunge, North Sea Industry Faces Perfect Storm

March 2016, Vol. 243, No. 3

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In Oil Price Plunge, North Sea Industry Faces Perfect Storm

ABERDEEN, Scotland (AP) — It’s Thursday night and the Spider’s Web pub is packed with beefy guys in windproof jackets and massive backpacks. The exhausted oil rig workers pile their bags against the wall, play pool or just slump in the leather seats, knocking back pints of beer. But despite the drink, there’s not much laughter. It’s not work that bothers them, but the prospect that the work will end. “I’m worried,” says Fraser Jamieson, an engineer who has spent the past 20 years on North Sea oil rigs. “We’re all worried.” The North Sea oil industry, the biggest and oldest in Europe, is struggling with a toxic combination of agin

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