Referendum Answers

Short Answers to Popular Questions about Scottish Independence

The Black Black Oil

Q. It's running out isn't it?

A. Not anytime soon.

Oil. If you listen to Alistair Darling and the glooms from Better Together, you'd think that Scotland was the only country in the world where it was bad to have massive oil reserves. Honestly, gies a break. Let's instead look at what the oil industry itself says about its investments in the North Sea.

  • Barrels remaining: at least 24 billion barrels
  • Value: worth around £1.5 trillion (that's one and a half thousand billion pounds).
  • Recent investments: £100bn to sink 133 new wells, the largest single investment in the North Sea fields ever

One more thing. Norway's oil fund is now worth £460bn. That's more than their national debt. What do you think the UK's oil fund is worth? About the same maybe? After all we discovered oil at the same time. Nope, it's worth nothing, zero, £0.00. In fact we don't have one. Money all spent.

So when you're about to vote on September 18th, remember you're voting for a new future for you and your children, and a new Scottish oil fund will help pay for it.