An excellent article that needs to be read and understood by all who comment on Scotland’s oil & gas.
The only thing I will add, and it is no detraction from the article, is that while O&G is incredibly valuable to both the UK and an independent Scotland, Scotland does not NEED O&G in order to be able to afford independence. We do have diversity in the Scottish economy and O&G can be viewed as the very big, nice, tasty cherry on top of an entirely edible cake.
More supporting details can be found here http://www.businessforscotland.co.uk/10-key-economic-facts-that-prove-scotland-will-be-a-wealthy-independent-nation/
The debate around Oil & Gas is one of the most peculiar aspects of Scottish life. Throughout my life the sector has been mentioned with various billions of £££ associated with it. Occasionally it will be reported that a field will have ‘£x billion’ invested in it and regularly there is discussion on how many ‘£yyy billion’ the industry is worth to the government. The impression has always been that sums of money flow out to sea and then more comes back in with the tide; the UK political parties and media have made sure the Scottish psyche is such that Oil & Gas might tick along for a while but the tide won’t flow much longer, and thinking anything else is a high risk strategy.
This hasn’t passed without consequence. Inexplicably the Oil & Gas sector was not mentioned once as a possible career at any point…
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