Scotland in the Cursed ‘Gang of Four’ energy exporters

In Europe, only Scotland, Norway, Estonia and Russia are net exporters of energy yet none of them are able to run their own affairs. No wait, it’s only Scotland that is too poor to do so unlike Ireland because it has a massive energy deficit. That’s it. Norway is independent despite its huge energy surplus weighing it down. No, wait, that’s wrong. I’m lost. Where are Murdo Fraser or Annie wells when you need them?

And, why is Norway’s surplus around 20 times greater than Scotland’s when we have even more oilfields. What’s going on? Thank goodness we have the UK Treasury looking after our interests.

 

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2 thoughts on “Scotland in the Cursed ‘Gang of Four’ energy exporters

  1. stewarb September 14, 2018 / 8:24 pm

    Thanks for flagging up this IEA data. More evidence of Scotland as a remarkably asset rich country: still all too few of our fellow citizens realise this.

    As recently as March 2018, the UK Oil & Gas Authority updated (at https://www.ogauthority.co.uk/media/4647/projections-of-uk-oil-and-gas-production-and-expenditure-march-2018.pdf ) forecasts of the UK’s dependency on oil & gas imports to meet its energy needs. Dependency will rise to 69% by 2035, from the 2018 figure of 38%. Of course given that c. 90% of the UK’s oil & gas production comes from Scottish waters, upon our independence the import dependency for England, Wales and Northern Ireland will then be closer to 100%, with Scotland becoming an actual net exporting state in terms of oil & gas.

    For a UK state already with a longstanding balance of payments problem and now with Brexit and its potential impact on the value of Sterling, the impact of Scotland’s independence on energy import dependency must be of major, strategic concern. So we will have strong cards to play when resolving the divorce agreement.

    And Scotland’s future self-sufficiency in terms of natural gas is illustrated by this news in 2016 of a major new gas field developments west of Shetland: “… peak production at the Laggan and Tormore fields could satisfy average demand across the whole of Scotland. In total, the two new fields, which have a lifespan of 20 years, will produce about 8% of the UK’s gas needs. A pipeline carries the gas from the huge new Shetland Gas Plant, part of a £3.5bn investment by French firm Total, down to the mainland and into the national grid.” (See https://www.bbc.co.uk/news/uk-scotland-north-east-orkney-shetland-35568837)

    And remember this. As far back as 2013, the BBC was reporting this: “Looking back over the past 40 years it is estimated the UK Treasury has benefited from offshore oil and gas production taxes to the tune of about £300bn (adjusted for inflation). Not all of that would have been from Scottish waters, but it is thought about 90% of it would.” (https://www.bbc.co.uk/news/uk-scotland-scotland-politics-20042070)

    Like

    • johnrobertson834 September 15, 2018 / 5:55 am

      Great addition stewarb! Thanks for your efforts in putting this together. I hope readers see it.

      Like

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