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jazzswan

UK oil revenue from UK International Waters

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I can't understand why no one is discussing the possibility that an Independent Scotland may not necessarily receive Oil revenues from drilling platforms in the North Sea that are currently in UK waters. After a YES vote for independence surely discussion will have to take place regarding drawing up boundaries of waters. What incentive is there for the remaining UK to "give up" it's existing waters? None, and why should it do so. Lines and boundaries can be drawn to keep existing UK waters in the UK and so keep Oil revenues. Is there a binding agreement already in place that if Scotland votes YES it will get boundaries drawn that include these waters? No mention seems to have been made of this possibility. So many issues would appear to have no clear and definitive answers!!

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There's more oil under the Falkland Islands than the entire Middle East so I doubt it would matter that much.

A Scottish construction company is currently involved in the design & build of the infrastructure needed to extract & transport it.

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International law governs the extent of a state's territorial waters which would preclude the UK from hanging onto any maritime territory it's not entitled to.

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I may be misunderstanding your point, but oil (minerals) which lie in Scottish waters (medians) are Scottish under International law, likewise those of the UK (~ 6-8% of North Sea reserves) would remain rUK, again underInternational Law.

Of course, after a yes vote, proportions of these could be offered as bargaining chips, but I dont see the issue.

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The median line, which currently determines Scottish fishing waters, would likely be used to determine that we are entitled to around 91% of the UK's current share of North Sea oil. In the event of independence, Scottish territorial waters cease to be the UK's, and are not something we have negotiate with rUK about, just as we don't have to negotiate whether Gretna comes with us.

But welcome to the forum - no hanging about with any of that football nonsense for you, jazzswan.

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This has been dealt with months ago.

Anything north of the median line on the UK Contintental Shelf is in Scottish waters. Which just so happens to be well over 90% of the oil.

Unlucks.

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