Referendum 2014
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Referendum 2014
The Scottish independence referendum and the debate about Scotland's constitutional future
Curated by Peter A Bell
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Scottish independence: Expert Alex Kemp predicts 99 further North Sea oil & gas finds - Energy Voice

Scottish independence: Expert Alex Kemp predicts 99 further North Sea oil & gas finds - Energy Voice | Referendum 2014 | Scoop.it
A leading oil economist has predicted a potential North Sea bonus of 99 new discoveries in the next 30 years. Alex Kemp, from the University of Aberdeen, has used detailed financial modelling to set out “commercially viable” projects for the industry following the Wood Review. The sector has been one of the key battlegrounds in …
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Scottish West Coast untapped oil and gas reserves worth trillions - Oil and Gas News

Scottish West Coast untapped oil and gas reserves worth trillions  - Oil and Gas News | Referendum 2014 | Scoop.it
Scotland could be sitting on more than double the amount of oil and gas reserves currently predicted a new independent industry investigation has found. The investigation reveals that the scale of Scotlands untapped frontier West Coast or Atlantic Ma
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Scotland: Oil Has Been Underestimated & Likely To Be Double The Amount Stated

Scotland: The investigation reveals that the scale of Scotland’s untapped frontier West Coast or Atlantic Margin has been underestimated.
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New volatility blow for Salmond

From today's Financial Times: "Buyout groups Blackstone and Blue Water Energy are providing $500m to Siccar Point Energy, a new UK-focused oil company, in one of the largest ever private equity inv...
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"Investment in the UK North Sea reached a record level of £14.4bn last year, raising hopes that oil and gas production could start to pick up again after years of decline."

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Comment: Would iScotland have sufficient oil?

Comment: Would iScotland have sufficient oil? | Referendum 2014 | Scoop.it
Would an independent Scotland have sufficient reserves of oil in its sovereign waters to support the economic plans put forward by the SNP, ask Professor Alex Russell and Professor Peter Strachan
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Sir Ian Wood's oil intervention was political

Sir Ian Wood's oil intervention was political | Referendum 2014 | Scoop.it
Scottish News, News Scotland - Politics, Referendum, Economy, Culture and intelligent opinion | Newsnet Scotland, uniquely Scottish
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The lost treasure of the deep

The lost treasure of the deep | Referendum 2014 | Scoop.it

Sir Ian Wood quoted in the Scotsman late last year: "A radical overhaul of the North Sea oil industry can deliver a £200 billion injection to the economy over the next 20 years, a major report has ...

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Clair Ridge and Scotland's new oil boom

Clair Ridge and Scotland's new oil boom | Referendum 2014 | Scoop.it
Scotland's massive sea area contains at least £1 trillion of energy wealth It's facts not fear that will win the referendum debate. This is especially important when discussing the future of Scotland's offshore revenue. Scotland has a strong and diverse economy with many strengths, and the energy


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Only independence can bring stability to North Sea | Scottish National Party

Only independence can bring stability to North Sea | Scottish National Party | Referendum 2014 | Scoop.it

Commenting on the news that the UK Treasury is to launch a review of the tax regimes in the North Sea for oil and gas production industry, Stewart Hosie MP – SNP Treasury spokesperson - said:  

 

“The SNP have been calling for certainty in the North Sea for years – and in the run up to the referendum suddenly Danny Alexander admits there is a problem with the way the UK government treat this important industry."

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No "black hole" for oil forecasts

No "black hole" for oil forecasts | Referendum 2014 | Scoop.it
One of Scotland’s most respected economists has questioned the UK Treasury’s oil and gas forecasts, arguing that Westminster’s calculations are ill-informed and “wide of the mark". The extent of Scotland’s future energy revenues has become a key battleground in the independence debate.

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Brian Wilson: Independence numbers game fantasy

Brian Wilson: Independence numbers game fantasy | Referendum 2014 | Scoop.it
YES, the numbers game is stupefying. But too much is at stake for us to be bamboozled by invented figures, writes Brian Wilson
Peter A Bell's insight:

When Brian Wilson says nobody else is using oil price figures as high as those being used by the Scottish Government he must be choosing to ignore the UK Department of energy & Climate Change Central Scenario projections to 2030 which forecast and average price per barrel of over $123 dollars.

Despite some relatively minor volatility (http://bit.ly/RU0zv4) the long-term oil prices continues on an upward trend - as can be seen from the US Energy Information Agency price forecast of $141 per barrel (adjusted for inflation). And when we are talking about the future of a nation, it is the long term that matters. Of course, a sensible government would put in place measures to deal with oil price volatility. I can't help but note that no UK government has ever done so - including the administrations that Brian Wilson was a part of.

It is also dishonest of Wilson to attempt to convey the impression that all of the Scottish Government's plans are crucially dependent on a particular oil price. On the contrary, it has always been made clear that oil is a bonus, not a basis for Scotland's economy.

Wilson is, of course, the master of miserablism. He appears genuinely convinced that we are totally dependent on the British state and incapable of doing anything for ourselves. He has dedicated himself to talking Scotland down at every opportunity. His contempt for Scotland and its people drips like venom from every word he writes.

His is not a voice that the people of Scotland can trust.

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This is not a spoof

This is not a spoof | Referendum 2014 | Scoop.it
We have not made this story up. It's not the work of BBC Scotlandshire. Just casually, there, beneath an unassuming, innocuous headline. No big deal. We HAVE satirised the comedy claims that oil wi...
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The Stolen Seas - YouTube

In 1999, the UK establishment secretly reclassified 6,000 square miles of Scottish sea as English waters. Craig Murray, the former British Ambassador to Uzbe...
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The neverending plague

From industry recruitment website oilandgaspeople.com today: "Scotland could be sitting on more than double the amount of oil and gas reserves currently predicted, a new independent industry invest...
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North Sea oil production to continue well beyond 2050 says leading academic

North Sea oil production to continue well beyond 2050 says leading academic | Referendum 2014 | Scoop.it

Oil production in the North Sea "can confidently be expected to remain viable beyond 2050" one of the industry’s most respected academics has said.

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Polishing all the truth out

Polishing all the truth out | Referendum 2014 | Scoop.it
There's something fascinating about the latest "No Thanks" leaflet that's slithering its way through letterboxes in Scotland this week, and it's not the empty sloganising it deploys in lieu of an a...
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No oil, no pound, no Balamory ... it's all Jackanory

'Salmond hit by oil bombshell - economic policy in ruins." We've become used to the front pages leading day by day with "New blow for Salmond over EU, currency, deficit, oil (delete as applicable)".
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Cameron conspiracy rumours dispelled

Cameron conspiracy rumours dispelled | Referendum 2014 | Scoop.it

RUMOURS that David Cameron became the first prime minister in 34 years to visit Shetland last month because of a massive new oil find to the west of the isles have been branded as "ridiculous".


Peter A Bell's insight:

Some standard political waffling from Alistair Carmichael. Note that he didn't actually explain or clarify anything. He didn't tell us why his Tory boss made the trip to Shetland. Why is he denying the "rumours" of a new oil find? Because he is expendable, perhaps?


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The unlikeliest places

Investors Chronicle (part of the Financial Times group), 25 July 2014: "In the 12 months since we recommended EnQuest (ENQ) as a speculative buy option, the share price of the North Sea independent...

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Salmond tells Alexander: listen to man who wrote the book on oil when you were just three

The North Sea oil industry has been

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Fresh attack on Yes case amid new oil figures

Fresh attack on Yes case amid new oil figures | Referendum 2014 | Scoop.it

ALISTAIR Darling has accused the SNP of basing its case for independence on fantasy economics after the Office for Budget Responsibility slashed its North Sea Oil forecasts.

Peter A Bell's insight:

When the Scottish Government revised its oil revenue projections to update the figures in the White Paper the Tory/Labour anti-independence alliance were all in a frenzy shouting about how this adjustment to take account of new data "proved" that the SNP's figures couldn't be trusted. But when the OBR change their estimates for no evident reason other than the needs of Project Fear we are supposed to take their figures as totally reliable.


Just how gullible do these British nationalists think we are?

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Independence oil fund plan ‘doesn’t add up’

Independence oil fund plan ‘doesn’t add up’ | Referendum 2014 | Scoop.it
NORTH Sea oil has been catapulted back to the forefront of the referendum debate with the Yes and No sides clashing over the viability of setting up an oil fund in an independent Scotland.
Peter A Bell's insight:

If oil has been "catapulted back to the forefront of the referendum debate" we can be sure it's because Better Together is anxious to divert attention from some lie of their which has been exposed or one of their scare stories that has been debunked - again! Perhaps they're frantically trying to distract us from the fact that one of their own, British Labour MEP David Martin, just revealed that the No campaign’s scare stories about Schengen and being forced to join the Euro are complete drivel.

Or maybe they are trying to divert attention from the recently rehashed nonsense about Scotland being arbitrarily excluded from international research funding programs.

Then again, they may be trying to draw a discreet veil over the increasingly embarrassing fake "grass roots" organisation, Vote No Borders" which has shown itself to be stunningly ignorant of such fundamentals as the fact that Scotland's NHS is, and always has been, a completely separate entity from the NHS in England. Not to mention the fact that there already is a border between Scotland and England, which happens to be one of the longest-established land borders in the world.

Whatever the reason for Alistair Darling dragging the whole oil thing to the forefront the fact remains that he is talking every bit as much nonsense as we would expect from someone who has previously proved his incompetence in quite spectacular fashion.

He foolishly chooses to compare plans for an oil fund to having credit card debt at the same time as having a savings account. Evidently, the buffoon is oblivious to the fact that this is a common and perfectly normal state of affairs for millions of people. Darling's inability to comprehend the functions of short-term borrowing and long-term saving may go some way to explaining the incompetence that made him such a failure as Chancellor.

A more appropriate analogy might be having both a mortgage and a pension fund. Nobody in their right mind would suggest that there is anything untoward about this. And yet here we have Darling telling us that it is a wholly outlandish idea.

In a quite stunning piece of contorted thinking, Darling makes a big fuss about the volatility of oil revenues while simultaneously railing against measures designed to deal with this volatility. One of the more striking things about Project Fear is the fact that its agents feel no need to make the slightest sense.

There's another fact that this fool misses. We have no oil fund now. And, as part of the UK, we will never have an oil fund. The worst-case scenario with independence is that we would be no worse off in this regard than we are now - but with at least the possibility of being somewhat better off. A possibility that Darling and his beloved British state would deny us.

I wonder what they'll come up with to distract us from Darling's latest inane rant.

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