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Mondy

Calls For Oil Fund Increase After Yet Another Major Discovery

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The SNP have repeated their calls for an oil fund to be set up following the announcement of yet another major oil discovery in the Scottish sector of the North Sea
The discovery, around 150 miles east of Aberdeen, is estimated to hold between 60 and 100 million barrels of oil and would equate to over $7billion at today’s price. This find comes just a few short months after the last major discovery in Scottish waters
“On Tuesday, Professor Stiglitz said that the SNP was “absolutely right†on the need for an Oil Fund, the UK Government has ‘squandered’ Scotland’s oil, that current situation is unsustainable and that an Oil Fund was now “imperativeâ€.

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What does he have in mind for this 'oil fund'? Social services one would hope.

Whatever the rights and wrongs, I can't see George Osborne willingly letting the Scottish Parliament do anything that might entail him letting go of any of the revenues, can you? Westminster was very careful to keep control of everything relating to the oil industry and its profits after all.

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What does he have in mind for this 'oil fund'? Social services one would hope.

Whatever the rights and wrongs, I can't see George Osborne willingly letting the Scottish Parliament do anything that might entail him letting go of any of the revenues, can you? Westminster was very careful to keep control of everything relating to the oil industry and its profits after all.

There's no oil left though CR. None. No money there. That's why Westminster won't let Holyrood control the industry. Because there is nothing left. Hmmmmmmm. Best to keep control of a nothing industry at Westminster. We wouldn't want the silly Scots to screw up an industry that is (honestly) worth nothing. Honest.

"Cleggy?" "Fag" "Polish my boots boy" "Samantha, tell Cleggy my towels need folding"

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Ah all the more reason for the US too invade. Scots keeping the oil to themselves and being friendly with terrorists. The Haggis has been designated a WMD so expect an invasion any time soon.

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Often wondered why us Jocks aren't clever enough to vote to become one of the richest small countries on earth but instead happily see the wealth flow into the South East of England.

Weird.

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Often wondered why us Jocks aren't clever enough to vote to become one of the richest small countries on earth but instead happily see the wealth flow into the South East of England.

Weird.

I think the argument has to be more subtle than just oil wealth. We should be putting up the fact that we're a cool, caring and compassionate country and that we hold different values to certain of our southern neighbours. We are far more European than we realise and we certainly don't tug our forelocks to the American overlords.

The whole oil argument is diluted when you look at a UK wide picture as it isn't such a boost to the GDP of the UK as it is to Scotland. If we were even allowed to declare 30% of our oil GDP as our own it would increase our headline GDP by 5-10% but counted against the UK as a whole it is actually a very small figure.

Scottish independence should never be based on a volatile resource. We should base our argument on the fact that we have a relatively small population density, we are sustainable environmentally which England and particularly the south east are not. We have plenty of water and plenty of room. If Scotland was populated to the same degree as England we would have a population of 30 million+

I would also drop all ideas of being the richest small nation on earth. Surely better to be the happiest healthiest small nation on earth, something which the "union dividend" has completely and utterly failed to deliver in hundreds upon hundreds of years. Average life expectancy in some areas of Glasgow is 53. That is below the average life expectancy in Iraq. Thanks for that Britannia.

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I would also drop all ideas of being the richest small nation on earth. Surely better to be the happiest healthiest small nation on earth, something which the "union dividend" has completely and utterly failed to deliver in hundreds upon hundreds of years. Average life expectancy in some areas of Glasgow is 53. That is below the average life expectancy in Iraq. Thanks for that Britannia.

Of course some might argue that the one leads to the other two.

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Of course some might argue that the one leads to the other two.

Happy people don't care about money, but aye, I see your point :)

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Money is positively correlated with happiness up to a point. The minimum amount of money needed for happy living varies from individual to individual, but we all need a certain amount of money to be able to fund happy living.

But it is a diminishing returns curve, and above that aforementioned point, money doesn't buy happiness. If anything the degree of emphasis on making lots of money above a certain level and happiness are often inversely correlated as you often have to make greater social sacrifices in order to become more rich.

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Money is positively correlated with happiness up to a point. The minimum amount of money needed for happy living varies from individual to individual, but we all need a certain amount of money to be able to fund happy living.

But it is a diminishing returns curve, and above that aforementioned point, money doesn't buy happiness. If anything the degree of emphasis on making lots of money above a certain level and happiness are often inversely correlated as you often have to make greater social sacrifices in order to become more rich.

Absolutely TWS. We should have a "frame for future reference" button in this forum as your post is worthy of it! :)

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Strangely the conversation arose just last night as folk tried to persuade me that mega rich was a bad idea because of what you would live amongst........I'm convinced I could isolate myself from all of that though!!!

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