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Scottish Independence & North Sea Oil

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posted on Dec, 18 2014 @ 06:06 AM
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The case for Scottish Independence amongst other things was revenue income from North Sea Oil.

WELLL.................it looks like if this article is correct, The North Sea Oil Industry is " Close To Collapse"
If true, then those who wanted independence for Scotland may have had a narrow escape.

www.bbc.co.uk...




posted on Dec, 18 2014 @ 06:17 AM
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Well, if Scotland had voted "yes" then they would have been in for a big surprise.

They would have been in for a big surprise anyway as the SNP promised everything, much of which would not have been delivered, so all the riches of oil would just have been another disappointment.

On the upside, England would probably have helped them out.

Regards



posted on Dec, 18 2014 @ 06:43 AM
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If true, then those who wanted independence for Scotland may have had a narrow escape.


I'm wondering what the price of oil dropping across the board has to do with the struggle for Independence.

The entire industry is nose diving. Good article, though.



posted on Dec, 18 2014 @ 07:00 AM
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Oil only accounts for around 10% of the tax revenue. You miss the point that was made about Norway though. The intention was to NOT spend the oil revenue and waste it like the UK government has done but instead put it into a fund like Norway has.

So your argument is pointless.

FYI I am not an SNP supporter.



posted on Dec, 18 2014 @ 07:08 AM
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a reply to: yorkshirelad

Er, no. The SNP based the new Scottish Golden Age on a high oil price to fund all the things they wanted to fund. The sovereign wealth fund was a "we'll have this too"!

Wasting oil revenues like the UK did on the NHS and serving the whole of the UK just would not be tolerated.

Regards



posted on Dec, 18 2014 @ 07:23 AM
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a reply to: alldaylong
Only Scotland would still have been part of the UK until 2016. Sensible oil producing countries (so not the UK) treat oil as a long term resource and accept that there will be price variations. The reasons for the current low prices are pretty well documented and don't suggest a long term price decline.



posted on Dec, 18 2014 @ 07:28 AM
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a reply to: paraphi
Can you link to the promise of a new golden age from the SNP?
There would be need to use oil to fund current expenditure, mainly due to historical underinvestment in infrastructure by Westminster. The plan for a oil fund was at least an attempt to redress the stupidity of using oil tax revenues to fund current expenditure and tax cuts.



posted on Dec, 18 2014 @ 07:32 AM
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a reply to: ScepticScot

You should read their manifesto for a start.

Regards



posted on Dec, 18 2014 @ 07:35 AM
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originally posted by: ScepticScot
a reply to: paraphi
Can you link to the promise of a new golden age from the SNP?
There would be need to use oil to fund current expenditure, mainly due to historical underinvestment in infrastructure by Westminster. The plan for a oil fund was at least an attempt to redress the stupidity of using oil tax revenues to fund current expenditure and tax cuts.



The SNP's plan for North Sea Oil Revenue was to bridge to gap from monies lost from The Barnett Formula. That amount currently stands at over £10,000 per head.
edit on 18-12-2014 by alldaylong because: (no reason given)



posted on Dec, 18 2014 @ 07:37 AM
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a reply to: paraphi
I have and I notice no link provided to the claim of 'a Scottish golden age'.



posted on Dec, 18 2014 @ 07:40 AM
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a reply to: alldaylongThat figure is for total expenditure per head in Scotland (or one definition anyway). Do you think people north of the border don't pay any tax?



posted on Dec, 18 2014 @ 07:41 AM
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a reply to: alldaylong

Scottish independence is a joke, we had our chance and sent it down the Clyde in a Banana boat!


Sad really but such is life, its not like TPTB were ever going to allow a nation like Scotland to depart the Union.


As to the Oil reserves just wait till they start fracking.

edit on 18-12-2014 by andy06shake because: (no reason given)



posted on Dec, 18 2014 @ 07:49 AM
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originally posted by: ScepticScot
a reply to: alldaylongThat figure is for total expenditure per head in Scotland (or one definition anyway). Do you think people north of the border don't pay any tax?



I think you need to read this:-

www.bbc.co.uk...



posted on Dec, 18 2014 @ 07:57 AM
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a reply to: alldaylong
A oil tax revenues go down when oil price lower shocker!!!!
With regard the fiscal transfer do you think that is coming from the bountiful wealth of England or perhaps as the UK is running a deficit it is borrowed money?
As is pointed out in the article the Scottish economy is on par with rest of the UK even without oil.



posted on Dec, 18 2014 @ 08:05 AM
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originally posted by: ScepticScot
a reply to: alldaylong

As is pointed out in the article the Scottish economy is on par with rest of the UK even without oil.



So if an independent Scotland had lost monies from The Barnett Formula, it would have made no difference then?

In fact it would have, at around £4 billion



posted on Dec, 18 2014 @ 08:21 AM
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a reply to: alldaylong
4 billion is certainly a lot of money. Examples of what it could buy would include Scotland's contribution for the HS2 link that comes no where near Scotland. How much of Scotland's contribution for trident would it cover? Not to mention the piddling amount spent on the London Olympics (again classified as UK expenditure).



edit on 18-12-2014 by ScepticScot because: (no reason given)



posted on Dec, 19 2014 @ 07:48 AM
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a reply to: alldaylong

Well it's not like Oil is a massive part of our economy. I think it equates to about 10-15% of our country's economy. Certainly not earth shattering, and it was never one of the big issues that was on my mind when we were voting.

Up in Aberdeen where most of the oil money transfers from companies to employees before going in to the economy via spending, everything just costs more. They all spend much more on houses, food, flights, etc. Oil money hasn't really ever made a difference to the majority of the country.

Independence would have been better. We'll get there eventually though. I think with new powers coming our way, and Alex Salmond taking a seat as an MP we'll get what we want eventually.

Cheers




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