By Dug Frazier, Our Economical (with the truth) Correspondent

The oil and gas industry is worth about £35bn annually to the UK economy, according to a new study. The research, commissioned by industry body Oil and Gas UK is full of big numbers and really difficult words.

However, it was clear to me from reading the first few pages, that Scotlandshire is dangerously burdened by oil. Indeed Ernst & Young, who compiled the report by taking a sneaky look at the records of companies involved in profiting from the bonanza risking everything on a dodgy prospectus, warned "Should any Third-party choose to rely on this report they do so at their own risk."

Happily, I can reassure readers that the UK Office for Budget Responsibility (OBR) has never taken the risk of listening to the Oil & Gas Industry's figures, but rely on the safer Conservative analysis of George Osborne that there is no oil there : if there was, it's about to run out, and in any case it's worthless - except for the stuff in English waters, which extend to the Norwegian coast.

In Other News

My commiserations to the family of my colleague, James Cook. The unfortunate accident which happened/will soon happen to him was/will be a tragic end to a fine journalistic career.

It had/will have no connection whatsoever to his persistent questioning of the CBI as to who (if any) their members were. Sadly that investigation revealed that all the media organisations who have been punting the CBI as "politically neutral" for many years, were themselves CBI members. Even more sadly, the BBC was one of these.

With the future referendum to pull this island England away from the clutches of the evil EU in mind, the BBC Trust had a nice lunch with the CBI Directorate, and agreed that for form's sake, the BBC would "suspend" its membership of the CBI during the splittist referendum, but only at the last possible moment, and for the least possible duration.

BBC Scotlandshire's Fat Controller, Kenny McQuarrel said, "London bastirts! I was never told we were in the CBI anyway. I've just wasted cash, that I could have put on my drinks expenses claim, taking out membership of CBI Scotlandshire!"

Related Items

 BBC in Scotlandshire : Oil and gas industry 'worth £35bn annually' to UK economy

Newsnet scotland [spit] : Oil and Gas industry worth over £35bn to UK economy, new report reveals

Comments

Due to the huge number of complaints, comments are no longer banned on BBC Scotlandshire News pages.

Comments or no comments, it's still OUR job to tell YOU what to think - NOT the other way around.