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Indy Ref

Indy Ref

Scottish Independence: Opinion – Our future oil and gas reserves

For many, the goal of independence itself overrides any fears of economic consequences. But faced with a vote that will have a huge impact on future generations, I believe that is a luxury we cannot afford. The key question has to be whether or not we will be better off or poorer as a separate country.

Indy Ref

Scotland Independence seen risking $23billion of power projects

A vote for independence in Scotland may halt work on renewable power projects that support £14billion ($23billion) of investment and 12,000 jobs by raising questions about how developers would get subsidies, an energy supplier said. Green Energy Plc, which sells electricity to almost 20,000 customers in the UK, said breaking up the union between England and Scotland in a referendum on Sept. 18 would force the two countries to negotiate how to divide payment for electricity.

Indy Ref

Opinion: Unconventional hydrocarbons in the North Sea?

The Scottish Sun had a double-page spread entitled “£600bn – that’s a fracking fortune”. This is based on a report by a pressure group called N-56 which claims that 21-42 billion barrels of oil equivalent could be extracted from unconventional hydrocarbon deposits in the North sea using fracking technology. The claimed tax take is £3-600 billion. It is an attractive idea – enough for one Sun journalist to switch his vote from No to Yes. Sadly, it is largely nonsense.

Europe

Fall in North Sea tax receipts

The Scottish independence campaign has received “a body blow” with new figures showing tax receipts from North Sea oil and gas have dropped by almost a fifth, Treasury Secretary Danny Alexander said.

Europe

Warning on independence oil revenue

An independent Scotland faces a basic income tax rate of 30% or 5% cuts to public spending across the board when new oil and gas estimates from one of the industry’s most respected figures are taken into account, according to Treasury Chief Secretary Danny Alexander.

Europe

Scottish Independence: Danny Alexander writes exclusively for Energy Voice

Yesterday we discovered a massive black hole in Alex Salmond’s economic case for independence. Sir Ian Wood, one of the world’s foremost oil industry experts, issued a clear warning about the Scottish Government’s projections for North Sea oil extraction. He said that their prediction that 24 billion barrels of oil still remain to be extracted from the North Sea is between 45% and 60% too high. His view is that the correct figure is between 15 and 16.5 billion barrels remaining.