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Since the 2014 referendum upto 2021, total oil revenue has been about £5b, that's £700m a year Pre-covid, Scottish public spending was about £15b a year more t

Since the 2014 referendum upto 2021, total oil revenue has been about £5b, that's £700m a year Pre-covid, Scottish public spending was about £15b a year more than tax revenue. I believe the SNP position is that historical revenues should be taken into account for historic debt, but Scotland still has to convince the world to lend it a hell of a lot of money every year to pay for those services, even if they took all the North Sea old revenue (which seems an odd thing for a government with Green backing to be relying on)

mschuster91 4y ago
> but Scotland still has to convince the world to lend it a hell of a lot of money every year to pay for those services, even if they took all the North Sea old revenue (which seems an odd thing for a government with Green backing to be relying on) The revenues from oil are going to be somewhat predictably stable for the next ten to fifteen years, there is simply too much infrastructure in Europe that relies on burning or otherwise using fossil-origin oil and gas. Banks and other investors can make an investment backed by this expected income.
- iso1631 4y ago
  They haven't been for the last 10 to 15 years. https://www.statista.com/statistics/350890/united-kingdom-uk-north-sea-revenue/ https://www.statista.com/statistics/350890/united-kingdom-uk...
  - mvc 4y ago
    "past performance is no guarantee of future results"
    - iso1631 4y ago
      Betting an economy on a high price of oil seems risky, especially when you're a minor player
      - mvc 4y ago
        I'm more worried about what happens when the oil runs out. Apparently it's the only thing of any value in Scotland and in 30 years, we're supposed to be net-zero. What happens when Scotland's geographical resources cease to be of any use to wealthy English people?
        iso1631 4y ago
        Without independence, same as now. Given that even including north sea revenue Scotland is still subsidised by London There's tons of future stuff that could be invested in Scotland -- offshore wind and tidal and pumped hydro for example. That investment isn't there because the UK (and the EU for that matter) is market led and the market wants short term results over long term investment.
        mvc 4y ago
        > Without independence, same as now. Given that even including north sea revenue Scotland is still subsidised by London Forgive me if I've misinterpreted, but you seem to think that's an argument for staying in the UK but I see it as an argument for getting out. It's a crutch, and Scotland needs to figure out how to stand on it's own power. Why should rUK subsidise indefinitely? What if suddenly it decides to stop? And why shoudn't it?
  - mschuster91 4y ago
    Yes, but that was a time where cheap oil from Russia and Saudi-Arabia was plentiful. Scotland as an EU member however could be sold to the public as a better choice than a warmonger and a dictatorship.

mschuster91 4y ago

> but Scotland still has to convince the world to lend it a hell of a lot of money every year to pay for those services, even if they took all the North Sea old revenue (which seems an odd thing for a government with Green backing to be relying on) The revenues from oil are going to be somewhat predictably stable for the next ten to fifteen years, there is simply too much infrastructure in Europe that relies on burning or otherwise using fossil-origin oil and gas. Banks and other investors can make an investment backed by this expected income.

iso1631 4y ago
They haven't been for the last 10 to 15 years. https://www.statista.com/statistics/350890/united-kingdom-uk-north-sea-revenue/ https://www.statista.com/statistics/350890/united-kingdom-uk...
- mvc 4y ago
  "past performance is no guarantee of future results"
  - iso1631 4y ago
    Betting an economy on a high price of oil seems risky, especially when you're a minor player
    - mvc 4y ago
      I'm more worried about what happens when the oil runs out. Apparently it's the only thing of any value in Scotland and in 30 years, we're supposed to be net-zero. What happens when Scotland's geographical resources cease to be of any use to wealthy English people?
      - iso1631 4y ago
        Without independence, same as now. Given that even including north sea revenue Scotland is still subsidised by London There's tons of future stuff that could be invested in Scotland -- offshore wind and tidal and pumped hydro for example. That investment isn't there because the UK (and the EU for that matter) is market led and the market wants short term results over long term investment.
        mvc 4y ago
        > Without independence, same as now. Given that even including north sea revenue Scotland is still subsidised by London Forgive me if I've misinterpreted, but you seem to think that's an argument for staying in the UK but I see it as an argument for getting out. It's a crutch, and Scotland needs to figure out how to stand on it's own power. Why should rUK subsidise indefinitely? What if suddenly it decides to stop? And why shoudn't it?
- mschuster91 4y ago
  Yes, but that was a time where cheap oil from Russia and Saudi-Arabia was plentiful. Scotland as an EU member however could be sold to the public as a better choice than a warmonger and a dictatorship.