The latest figures from the oil & gas industry indicates that the wealth remaining under the ground is now estimated at between £2.25 trillion and £4 trillion and that the oil & gas may well run until 2099! Colossal figures which will raise significant money for rejuvenating our economy.
Oil & Gas account for some 19% of Scottish GDP. The equivalent figure for Norway is 29%. Yet Norway has prudently built up an oil fund worth some £400 billion. Uniquely, Scotland is told by Westminster that its vast oil wealth is actually a problem which we are not equipped to handle. No one tells Norway that its oil wealth is an embarrassment. They just get on with managing it and getting wealthier by the day.