When Scotland’s First Minister Nicola Sturgeon was challenged by Murnaghan on Sky this morning about falling oil prices she claimed “the projection is that oil prices will be over $100 a barrel next year … the outlooks in the sector are very, very positive ones.” She has to believe that, the SNP’s whole economic strategy depends on high oil prices…

Oil closed on Friday at $70 a barrel, the forward futures price is no higher than $80 a barrel for delivery every month next year. She might be selling snake oil, but no one is buying oil above $100 next year…