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In 2006 Grant Thornton, an accountancy firm, estimated that even if all the revenue from North Sea oil (NB North Sea and not Scottish) were allocated to an independent Scotland would have a £6 billion deficit. A 2008 study claimed that with the increase in oil prices the oil revenue totals £12.8 billion, leaving a £4 billion surplus. This misses the key point. This is a UK resource. If Scotland opted out of the UK then the North Sea oil could be very easily channeled through Newcastle. The only reason Aberdeen was chosen was to provide jobs and wealth in the ‘granite’ city. What intellectual argument is there to conflict this view? I can imagine lots of grumpy Scots huffing and puffing but look what Westminster was happy to do in Iraq to secure oil, what makes the Scots think England would be any less protective closer to home?
What else can I help you with?
What is Scotland's biggest economic asset?
Oil
How did Rockefeller make money?
Rockefeller dominated the oil industry at his time. He bought as much oil refineries as he could.(Monopoly)
What do most of the oil producing countries do with money they received for oil?
Most oil-producing countries invest the revenue from oil sales into various sectors to support their economies, such as infrastructure, healthcare, and education. Many also allocate funds to sovereign wealth funds for long-term financial stability and economic diversification. Additionally, some countries use a portion of the revenue to subsidize energy costs for their citizens or to fund social programs. However, the specific allocation of oil revenue can vary significantly based on each country's economic policies and governance.
How much do revenues from petroleum and natural gas contribute to Dubai's economy?
Suprisingly, not very much. The two large emirates of the United Arab Emirates are Dubai and Abu Dhabi. According to Wikipedia, oil revenues are less than 6%, with oil production at 50,000 to 70,000 barrels of oil per day. In contrast, Abu Dhabi receives about 85% of its revenue from oil. Trade and tourism are a large part of Dubai's economy. See related links.
What resources does Mexico have that add to their economy?
All of them do; however in terms of revenue from exports, oil is the most important among them.
How much profit does Scotland get from oil?
The money raised in taxes from North Sea oil goes directly to the treasury department of the British government in Westminister. The Scottish parliament currently has no powers to raise its own taxes.
How much does England earn from Scotlands oil?
It isn't Scotland's oil. It belongs to all of the United Kingdom.
What is a sentence for the word revenue?
Oil revenue is funding the expansion of the war.
What is Scotland's idrusty?
Oil
How much revenue is allocated to south south parts of Nigeria from the federation account?
Fifteen percent oil derivation
Is Edinburgh the oil capital of Scotland or Great Britain?
Aberdeen, not Edinburgh, is the oil capital of Scotland, the UK and Europe.
What is the commercial capital of Scotland?
Aberdeen is the centre of the oil industry in Scotland.
Which group of countries earns much of their revenue from the sale of oil?
Saudi arabia, nigeria, and venezuela...don't forget iraq
What is the Oil capital of Scotland?
Aberdeen
Where do England's oil come from?
scotland
Information about the blue mart oil and gas company in Scotland?
Is there any company in Scotland named " BLUEMART OIL AND GAS COMPANY "
What natural resource is Venezuelas most valuable export?
Oil is Venezuela's most valuable export. The country has one of the largest oil reserves in the world and oil exports make up a significant portion of its government revenue.
