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pe, had virtually ceased to exist within the city. Ship building in Aberdeen was struggling, paper making was beginning its slow death and its days as a major herring port were already history. But at Aberdeen harbour alone, income to the port, principally on the back on the oil boom, increased fifteen fold in the 1970s and the 1980s. Until oil arrived Aberdeen's population had been on a steady downward spiral. But by the mid 70s Aberdeen was a city in the midst of an unprecedented economic revival, attracting thousands from all over the UK to seek the "film star wages" Nike Roshe Run Shoes Olive Black on offer by the oil giants setting up their North Sea headquarters in the city. House prices boomed and rents soared as oil production hit 2. 5 million barrels per day in 1985 on Nike Roshe Run Blue And White
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It was estimated then that the oil industry accounted for 20 per cent of the total employment in the region. But Aberdeen has not been without its troubles. The need to diversify the city's economy away from its over dependence on the fluctuating fortunes of black gold became all too apparent in 1986 when the oil price, hovering steady at around $40 a barrel, collapsed to less than $10 a barrel. Thousands lost their jobs. House prices collapsed and it took years for many home owners to recover from negative equity. This website and its associated newspaper adheres to the Independent Press Standards Organisation's Editors' Code of Practice. If you have a complaint about editorial content which relates to inaccuracy or intrusion, then contact theIf you remain dissatisfied with the response provided then you can contact the IPSO byThe Scotsman provides news, events and sport features from the Edinburgh area.
the back of the discoveries of the new Brent, Ninian, and Piper fields. And by 1995 the population of the North east had soared to 533,000 100,000 more than the population had been when North Sea oil was first discovered.
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