as it is now, whilst part of the UK Union Scottish Oil Revenue? Archived. “An oil-water contact was penetrated in the sidetrack consistent with the oil column observed in the original well. price and potential reserves, the total current value of North Sea oil is £1.2 trillion. if we assume a similar rate of return to Norway, then Scotland: | scottishactivist0 Alasdair Macdonald May 11, 2018 / 11:23 am Interestingly the BBC Scotland page reports on a solar power development by the Glasgow Caledonian University in which city footways are paved with blocks which have solar cells inserted so that the public spaces become energy farms. Scottish North Sea oil and gas industry 23 April 2014 14/28 Greig Liddell This briefing is produced to assist the Economy, Energy and Tourism Committee in their inquiry into Scotland’s Economic Future Post-2014. Scotland without oil revenues - i.e. In 2014/15 however, North Sea revenue had declined to the point that the revenue collected was slightly less than Scotland’s share of the population, whether Nor… The Facts and Figure behind Scottish Oil The London Government have committed themselves to building eleven new nuclear power plants which will cost substantially more than sustainable Green Energy. In comparison the UK ran a budget deficit in each of those years totaling -£24 Billion. North Sea oil supplied 67% of the UK's oil demand in 2012 and 53% of the country's gas requirements and is a major boost to the country's economy. Please help get the truth of Scotland's rich economy that is in surplus, opposed to the UK economy which is in deficit, out to those who are fooled by the barrage of lies from the London parties - click here The Scottish Lib Dems summarised the reaction to these figures late last year when they said the revenue plunge showed independence was a “huge gamble”. Unfortunately London has controlled Scotland's oil revenues and sold off Scotland oil far to cheap, wasted it on the fall out from not joining the euro, fighting wars and has now used any surplus left on bailing out the banks that it failed to regulate. Scottish Oil Revenue? prosperity. Ministers in Edinburgh are preparing to legislate to ensure much of the fortune earned by the Crown Estate from the multi-billion-pound offshore energy industry goes to local communities in Scotland. Read the Daily Mail There is some divergence between estimates though: in the five year period from 2008/09, Scottish government statistics estimate Scotland's share of North Sea resources generated between 84% and 95% of total UK oil and gas revenues each year, while HMRC's experimental statistics found it … be two-thirds of the revenues still remaining in the North Sea, with an additional £800 billion pounds Per capita figures expressed per … Online Norwegian Translation ? Scotland has much more oil and gas than previously thought, but the London government continues to neglect Scotland. Read this in depth report that examines the lies that are fabricated by Westminster on the UK / Scottish Economy. Close. This report was classified top secret due to its contents. UK oil revenue has ranged from £1.5bn in 1991-92 to £27bn in 2011-12. Last month, the two firms said oil and gas had been located at Tornado. Dessverre har London styrt Skottlands oljeinntekter og solgte av Skottland olje fjernt til billig, sløste det på fallet ut fra ikke forbinde euro, som bekjemper kriger og nå har brukt noe overskudd som blir forlatt på trekke seg bankene som det unnlot til å regulere. Since a peak in 1999, production has steadily declined. BBC News Report tl;dr More spending occurs in Scotland than tax revenues raised by Scotland. The Gross Domestic Product (GDP) of Scotland in 2013 was $248.5 billion including revenue generated from North Sea oil and gas. Scotland without oil revenues - i.e. “A thorough analysis of data gathered is already underway.”, The North Sea has almost as much oil left as has already been extracted, a BBC Scotland investigation has been told. Ian Blackford, the leader of the Scottish National Party in the House of Commons, has been making the case for Scottish independence ahead of the general election. Read the full story. An asset for Scotland’s future Les de Skotske Myndighetene hvit papir på Skotsk Uavhengighet. Extensive sampling of the fluids has been undertaken.”. © 2008 OilofScotland.org All Rights Reserved. These figures are for oil and gas revenue only they do not include council tax, income tax, VAT, Corporation tax or the substantial revenues Scotland's makes from Tobacco, Alcohol, Whisky Production, Tourism or Renewable Energy etc. Oil industry analysts predict that North Sea Oil Production will continue for 100 years at least. • Petroleum Revenue Tax (PRT) repayments were £411 million in … important Scottish industry. Log In Sign Up. During the Scottish referendum, a lot of the Scottish budget was based on estimated revenue from North Sea oil. With just 35 billion barrels recovered to date we are still at the half way point for this A fall in oil prices together with an increase in tax deductible expenditure contributed to this overall fall in receipts. Statistics of government revenues from UK oil and gas production, including data for fields subject to Petroleum Revenue Tax (PRT). Calculation £250,000,000,000 (250 billion) divided by Scotland's current population of 5,117,000 = £48,856 per each or average annual loss over 30 years = £1628 each per year. When North Sea Oil was discovered in the waters of Scotland and Norway in the late 1960's. It is an asset worth £234,000 for every man, woman and child in our country. .css-14iz86j-BoldText{font-weight:bold;} The future of North Sea oil is one of the key campaign battlegrounds ahead of the Scottish independence referendum. Wikipedia The BBC The Guardian. It should also be noted that the Scottish figures exclude offshore oil revenue. If we make right choices, and follow the successful example set by Norway, even investing just a part of executive of the Royal Society of Chemistry, said: "Rather than only getting 20 to 30 billion barrels [from the North Sea] we are probably looking at more than twice that amount." The Great Deception of the Scottish People . 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