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True but that's been known for a while - and afaik there hasn't been a definitive "oil will run out in 20xx" answer. Main thing hurting right now is the global
by smcl 10y ago
True but that's been known for a while - and afaik there hasn't been a definitive "oil will run out in 20xx" answer. Main thing hurting right now is the global slump in oil price hammering the North East - to be fair all of this does suggest that Scotland needs to focus on diversifying into renewables and tech but that was always the plan. It's just kinda irritating that this has come up now as it's a convenient stick to beat the pro-EU left with.
- Gravityloss 10y agoI'm just thinking if you count the subsidies as coming from Britain to Scotland but not the oil being pumped from Scotland and sent to Britain? How would the borders go in case of separation? Seems Scotland has only one refinery, and it's half owned by a Chinese company.
- sambeau 10y agoAll current economic statistics about Scotland are baed on origin. Anything made in Scotland is counted as part of Scottish economy, even if it travels to England to be exported—that is counted as a Scottish export even though it left via an English port. The difference after independence would be that the export would occur at Carlisle rather than Felixstowe. Most of the "Thatcherism effect" of the 19080s can be directly attributed to North Sea oil. If you remove that money from the economy Thatcherism was a contraction until the banks boomed (though that was mostly post-Thatcher).