Unpredictable Capitalism

Capitalism is forever outfoxing the so-called economic experts. A few years ago it seemed that the North Sea was a potential bonzana of potential wealth, but the promised riches have proven to be an illusion.  'Oil and gas giants are planning to slash the wages of thousands of Scottish workers by about 15 per cent. With Brent Crude is at a five-year low, American giant Chevron has announced it is to cut rates paid to agency contractors by about 15 per cent. It follows similar moves by other firms. BP has agreed with recruitment agencies in Aberdeen to lower rates by up to 15 per cent for about 450 workers from this year.' (Herald, 1st January) RD