Scotland's Oil

[Richie]

To turn things on their head... How do people think Scotland would fare, still being part of the UK when the oil runs out?

What with Westminster calling the shots and everything?

[Incognito]

I would like Scotland to remain under London rule

[Gordon EF]

I see oil revenues as basically giving an independent Scotland some breathing space for a few years until we can restructure our economy and get it sorted for when the oil runs out. After that's done, we can use it to build an oil fund so that the legacy of the oil lasts well beyond the last drop getting sooked up.

Compare that to the UK scenario of oil revenues being used to top the kitty so that our deficit is only horrendous rather than utterly terrifying. It's being pished up against the wall. And if we vote No, the whole lot will get pished away before we get another chance to actually put it to good use.

[1320Lichtie]

My reaction exactly, surely a wind up.

[Baxter Parp]

If you're basing the argument on oil then it's just as reasonable to want independence for Aberdeen

Can a house be independent? A village? f**k off and stop being so stupid.

[orlandoblue]

I saw Alex Salmond talking about how we would take our share of the UK debt but that would also mean we are perfectly entitled to our share of UK assets.

Does this theory mean that the rest of the UK would be entitled to a share of any current UK assets that are in Scotland eg Oil.

If not why not? Is the proposal that we'll take our share of the debt plus the share of any UK assets held in England, Wales and NI but we will retain 100% of assets in Scotland?

[ayrmad]

I saw Alex Salmond talking about how we would take our share of the UK debt but that would also mean we are perfectly entitled to our share of UK assets.

Does this theory mean that the rest of the UK would be entitled to a share of any current UK assets that are in Scotland eg Oil.

If not why not? Is the proposal that we'll take our share of the debt plus the share of any UK assets held in England, Wales and NI but we will retain 100% of assets in Scotland?

I think the oil is ours.

[orlandoblue]

I think the oil is ours.

Yes - I'm asking why the rest of the UK wouldn't be entitled to a share of that asset as it seems the FM is clear that we will take our share of assets from the rest of the UK?

[Baxter Parp]

I saw Alex Salmond talking about how we would take our share of the UK debt but that would also mean we are perfectly entitled to our share of UK assets.

Does this theory mean that the rest of the UK would be entitled to a share of any current UK assets that are in Scotland eg Oil.

If not why not? Is the proposal that we'll take our share of the debt plus the share of any UK assets held in England, Wales and NI but we will retain 100% of assets in Scotland?

Oil is a fixed asset, it belongs to Scotland by nature of geography. Scotland will not, rather sensibly, be asking for an 8.9% share of coal, shale gas, etc in England Wales and NI. Or fishing stocks for that matter.

[orlandoblue]

Oil is a fixed asset, it belongs to Scotland by nature of geography. Scotland will not, rather sensibly, be asking for an 8.9% share of coal, shale gas, etc in England Wales and NI. Or fishing stocks for that matter.

Rather sensibly because they know if they do there would be a claim on the oil?

That doesn't really answer my question though. It currently stands as a geographical asset of the UK so why would the UK not want to retain some of the revenue and why would they not be entitled to ?

[Baxter Parp]

Rather sensibly because they know if they do there would be a claim on the oil?

That doesn't really answer my question though. It currently stands as a geographical asset of the UK so why would the UK not want to retain some of the revenue and why would they not be entitled to ?

Mineral rights aren't moveable assets like cars, tanks and planes.

"The Geneva agreement on natural resources under the sea dictates that they are divided by the median lines. Most people accept that the Geneva approach is the standard approach. Which gives Scotland 91% of revenues." -National Institute of Economic and Social Research

[orlandoblue]

Mineral rights aren't moveable assets like cars, tanks and planes.

"The Geneva agreement on natural resources under the sea dictates that they are divided by the median lines. Most people accept that the Geneva approach is the standard approach. Which gives Scotland 91% of revenues." -National Institute of Economic and Social Research

Cheers - that's more what I'm looking for. Are they currently divided by median lines in a UK context though ?

[Baxter Parp]

Cheers - that's more what I'm looking for. Are they currently divided by median lines in a UK context though ?

Apart from Blair's annexation of 1999, yes.

[orlandoblue]

Apart from Blair's annexation of 1999, yes.

Therefore if there was a Yes vote the Geneva convention would dictate that Scotland would keep all of that asset without either government having a say in it ?

[AberdeenBud]

Rather sensibly because they know if they do there would be a claim on the oil?

That doesn't really answer my question though. It currently stands as a geographical asset of the UK so why would the UK not want to retain some of the revenue and why would they not be entitled to ?

Of course rUK would want to retain as much of the oil revenue as possible but under international law and precedent they would only be entitled to that which falls within their seas, i.e. not very much.

See the Craig Murray articles above for further reference.

[Baxter Parp]

Therefore if there was a Yes vote the Geneva convention would dictate that Scotland would keep all of that asset without either government having a say in it ?

That's the idea.

[ayrmad]

Apart from Blair's annexation of 1999, yes.

That shows you all you need to know about not being independent.

[Tom McB]

Why is it Scotland's oil? Why isn't it, for example, Aberdeen's oil?

It's Shetland's Oil, expect a Shetland and Orkney indep movement in the very unlikely event of a yes vote.

http://www.telegraph.co.uk/news/politics/9151646/Scotlands-oil-rich-Northern-Isles-tell-Alex-Salmond-We-might-stay-with-UK.html

[Baxter Parp]

It's Shetland's Oil, expect a Shetland and Orkney indep movement in the very unlikely event of a yes vote.

http://www.telegraph.co.uk/news/politics/9151646/Scotlands-oil-rich-Northern-Isles-tell-Alex-Salmond-We-might-stay-with-UK.html

Good for them, I hope they enjoy being an enclave.

[Mr Bairn]

Good for them, I hope they enjoy being an enclave.

It's literally impossible for an island to be an enclave.

Shetlanders in particular hate being called Scottish. They're either British, or simply Shetlanders.

If the UK offered a referendum to the Northern Isles allowing them to breakaway from Scotland and join the UK with the same rights as Jersey, Guernsey and the Isle of Man, then I think they would take it, and Scotland would be begging Westminster to take us back within 5 years.