At Gordon University in Aberdeen there is a professor of petroleum accounting. He’s called Alex Russell and he thinks independence would be good for the Scottish oil industry. Yes Scotland have just issued this statement from him. There is no question that had Scotland been an independent country in 1975, that Scotland would be extremely wealthy now and there would be no national debt. The weight of evidence is that the UK government has failed to invest the harvest from the North Sea oil for future generations. Would an independent Scotland look after Scotland’s oil and gas resources better than the current UK government? I believe it would, and would ensure that the people of Scotland benefitted much more than just now. What is more – by providing a much more stable fiscal regime - Scotland can increase confidence and thus investment in the industry. That is why I am voting Yes and I encourage others to do the same next week ... The oil forecasts from the Office of Budgetary Responsibility are ludicrously pessimistic, and a huge understatement of the future potential of North Sea production. The forecast from Professor Alex Kemp, that up to 24 billion barrels appears plausible, is one I agree with, and one backed by Oil and Gas UK ... Though the quantities of oil and gas left are lower than what has so far been removed, the prices are higher, so the value of the second half of Scotland’s oil opportunity may be even greater than the first forty years. We need to grasp that opportunity for Scotland through a yes vote.
Posted on: Fri, 12 Sep 2014 09:24:00 +0000
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