Talking-up Scotland

Premier Oil produced 82 100 barrels per day in the first half of 2017, a 34.5% increase. Revenue rose even more steeply by a staggering 49% to $546.1 million.

It’s clear from this and other reports that the North Sea fields should be pouring tax revenues into the treasury and that these should be credited in any discussion about Scotland’s economic well-being unlike that currently around the wholly inadequate GERS estimates being used to allocate Scotland a deficit she doesn’t really have for purely political propaganda reasons. Here are some of the earlier signs that the oil majors are thriving yet not paying their way in the UK economy:

Maersk Oil adds to optimism about North Sea oil’s future prospects

Most North Sea oil and gas firms no longer planning job cuts and reporting growing confidence in recruitment according to Bank of Scotland report.

Scottish heavy grade North Sea oil generating more massive profits for corporations and the UK Treasury

Here’s the FT’s headline on this:

‘At last, Premier Oil has reason to be gushing’

https://www.ft.com/content/af581734-88f4-11e7-8bb1-5ba57d47eff7

http://www.insider.co.uk/company-results-forecasts/premier-oil-enjoys-record-first-11044112

© thescottishsun.co.uk

You might remember my list of shameful comments by Tory representatives before the election. I’ve listed them again below. Two others (only two) were disciplined and had to do ‘diversity training’ after making anti-Catholic (Alastair Majury) and racist (Robert Davies) jokes. More recently Douglas Ross has referred to travellers as ‘Gypsies’. We await news of his punishment if any.

However, Ruth Davidson has decided to reinstate the first two after promises from them that they had changed their ways saying she was giving them: ‘the opportunity to change’. That’ll be what I hear described as ‘compassionate conservatism’ then? It’s supposed to be directed at the poor and needy and not just at themselves by hey-ho, what did we expect?

I’m sure, they’ll be more careful now but does anybody really believe they’ve changed their views?

Mr Majury boasted about the size of his penis on an online dating site, tweeted nasty comments about Catholics, said the SNP were like Nazis and accused the Scottish government of spending too much time on gay marriage. Does he know about Ruth? How long was the diversity training? Did it include hypnotherapy? How big is his penis?

© spectator.co.uk

Is this a Tory thing? English Conservative MP Brooks Newmark [above] actually sent a photograph of his penis in 2014.

https://blogs.spectator.co.uk/2014/10/british-anthony-weiner-quits-over-his-clunge-selfie-demons-rod-liddle-re-caps/

Here’s what SNP MP James Dornan had to say:

‘She claims it was ‘not easy’ letting these two councillors back into the party – but not allowing racists and bigots back into her party should have been the easiest decision she’s ever had to make.’

Donald Gatt elected to Keith and Cullen stood for UKIP before and commenting on free meals for P1 pupils, is reported to have said that those who cannot afford to feed their children should use a contraceptive.

Neil Graham, a Paisley councillor, had his contact details on a leaked BNP database. I downloaded that myself at the time and found a near neighbour on it!

Ian James, for Strathtay, was reported to have praised a speech by UKIP MEP Steven Woolfe and bemoaned the lack of characters like Enoch Powell in the tory Pary leadership campaign.

Most pathetic was Fife teacher Kathleen Leslie (above) who described Nicola Sturgeon as a “drooling hag”, a “wee fish wife” and a “walking horror show”. This is a teacher, a role model for young people, who teaches what…..English? Is she that braw hereself

Ken MacBrayne for Benbecula and North Uist, Roxana Iancu for Glasgow and George McIntyre for Midlothian were caught in time and dropped, after anti-Muslim rants by them were allegedly identified.

Finally, David Wilson of Inverclyde was reported to have asked gay people to out themselves during a public meeting during which a donation to an LGBT group had been moved.

(c) filmrise.com

I’ve just posted this wee extract from Energy Voice to show how the GERS figures might have been headlined in MSM headlines. Here’s a wee bit of what they said:

‘Scotland’s deficit has been cut to £13.3billion over the past year. Much is due to positive developments in the oil sector. Oil receipts rose for the first time since 2011, growing from £56million in 2015-16 to £208million in 2016-17, according to the latest Government Expenditure and Revenue Scotland (Gers) figures.’

Needless to say you don’t want to read on, as Nicola tamely accepts we need to do better and for reasons I am not clearly not party to, doesn’t mention it would have been a whole lot better if the oil majors had been taxed the way every other producing country did and we’d have had no debt at all. Apologies if I’m overdoing this link but the story really needs to be spread on this scandal.

Re-post: A ploy to undermine the case for Scottish independence as Oil companies making more at $50 per barrel than they did at £100 per barrel yet the UK Government is not taxing them.

https://www.energyvoice.com/oilandgas/north-sea/148452/scotlands-debts-cut-black-gold-boosts-coffers/

© sbnn.co.uk

Isn’t that simply stunning? Is there a sight like that anywhere else? There certainly isn’t in the UK. There’s no individual credit for the shot but well done to the photographer.

In a piece by the Scottish Business News Network, we hear that Visit Scotland has put together a ‘free industry toolkit’ to help businesses take advantage of the new crossing. Here’s an extract that makes the main points:

‘Ahead of next week’s official opening of the world’s longest three-tower, cable-stayed bridge, VisitScotland has created a free industry toolkit to help accommodation providers, tour companies and visitor attractions use the Queensferry Crossing in their marketing. As well as a selection of stunning images and footage, the toolkit includes content for social media posts and newsletters and factsheets.’

There will also be a blog with advice to photographers on how to capture the best views for their businesses’ advertising literature. Of course, it’s not just the new bridge but this unique trilogy of bridges that will make the views stunning and seductive for tourists across the globe.

According to Visit Scotland: ‘Scotland becomes the world’s first destination to have three bridges spanning three centuries in one stunning location.’

I’ll have to take their word for that. Anyone know otherwise? Newcastle has five I think but they’re much less impressive.

https://sbnn.co.uk/2017/08/23/visitscotland-toolkit-will-help-industry-capitalise-queensferry-crossing/

(c) samaa.tv

As US crude stockpiles fall, the value of North Sea oil remains well within the range where the oil majors are making big profits and should be further increasing the revenue from the Scottish fields. Even in the discredited GERS figures oil revenues were up though it’s clear they should have been much higher:

Re-post: A ploy to undermine the case for Scottish independence as Oil companies making more at $50 per barrel than they did at £100 per barrel yet the UK Government is not taxing them.

Why were tens of billions in oil revenues lost by UK government? Would they have made Scotland seem too wealthy in September 2014?

Today’s report in Energy Voice further reinforces confidence in the market for Scotland’s oil as all the signs point to shortages and price rises of quite dramatic nature by 2020.

Independent Scotland’s oil wealth is assured as Aramco chief predicts huge shortages

Will Scotland’s oil hit $100 (or more?) a barrel again after 2020?

We have to hope we’ve begun the process of claiming the revenues for Scotland by then.

https://www.energyvoice.com/marketinfo/148477/oil-climbs-stockpile-drop-allays-worries-summers-end/

See Richard Murphy’s demolition of GERS:

http://www.taxresearch.org.uk/Blog/2017/08/24/my-evidence-to-the-scottish-parliament-on-gers/

 

 

As the North Sea and West of Shetland fields move into a Third Wave of wealth generation with prices confidently expected to rise to between $70 and $100 per barrel by 2020, the Scottish Government is playing its part by investing strategically.

Livingston-based Scaled Solutions will receive £2.2 million:

‘The R&D project will enable the company to develop new testing services that will address knowledge and technology gaps in corrosion and scaling mechanisms. The company will grow its staff at its Scottish base over the next three years by a third, with 17 of the 19 newly-created jobs in R&D.’

https://news.gov.scot/news/gbp-5m-oil-and-gas-investment

This is not the first time the Scottish Government has invested strategically to develop knowledge and skills that Scottish companies can then use win contracts in and beyond the North Sea. See:

Scotland’s oil and gas expertise earned £11.4 billion in 2015/2016 supported by Scottish Government investment

As Scottish Oil and Gas moves into a third wave of prosperity, Scottish Government funding for innovation is increased

Evidence that it is paying off can also be found. See:

Scotland’s oil and gas extraction expertise continues to earn millions

So, getting on with the job, I’d say.

Our ‘notional’ deficit has been welcomed gleefully by those prominent ‘Scots’ who’d rather see their own country done down than break free. It is of course notional in two senses. First, it’s based on estimates and second we can’t actually have a deficit as we’re not independent and responsible for it. It’s the UK deficit and as you know that derives from the UK’s massive trade deficit and consequent loan payments not to mention it’s imperialist foreign policy costs which we wouldn’t have either or the fact that Westminster failed to collect tax revenue on North Sea oil for several years before and since the Referendum. Wonder why? You’ll also remember Scotland doesn’t have a trade deficit [see link below] and so doesn’t deserve to have a share of the debt repayments added to its figures.

However, even if we accepted the GERS figures the Unionist media headlines could have been more positive. See this headline from the Scottish Business News Network.

‘The latest Government Expenditure and Revenue Scotland (GERS) figures show Scotland’s fiscal position improved in 2016-17.’

Here is an extract from the report:

‘Overall, the notional deficit fell by £1.3 billion in 2016-17 to stand at 8.3% of GDP. Onshore revenues increased by £3.3 billion (6.1%) between 2015-16 and 2016-17 – the fastest increase since current records began in 1998-99 – while North Sea revenue also grew.’

FM Sturgeon was also quoted in the article:

‘Scotland’s economy remains strong. In the last quarter, our economy grew nearly four times faster than the UK and the number of people in employment is at a record high. These figures reflect Scotland’s finances under current constitutional arrangements. However, they show that our investment in key industries – such as the life-science sector – is providing a real boost to our onshore economy. By continuing to invest in key sectors, we will ensure Scotland remains a productive and competitive country.’

She’s too polite [not combative enough?] to mention the ‘defence’ costs or the oil revenue fiasco and she’s a bit obscure on the issue of whose fault the deficit might be for my taste but then one of my readers has just labelled me a ‘brutal realist.’ I am certainly the second part.

England ran a massive trade deficit in 2014 and 2015 too. Scotland had an even greater surplus in those years. Who knows how much we’ve been subsidising the UK balance of payments and reducing debt over the years?

Why were tens of billions in oil revenues lost by UK government? Would they have made Scotland seem too wealthy in September 2014?

https://sbnn.co.uk/2017/08/23/scotlands-fiscal-position-improves-tax-revenue-grows-a

Newsquest (Herald & Times) Ltd, owner of The Herald and Evening Times, reports annual profits dropped 44% to £4.8 million in the 2016 year to 25 December. Average daily sales for the Herald were a mere 28 900. Wings over Scotland attracts around 300 000!

It must be only a matter of time until the parent company Newsquest Ltd dumps it and, hopefully, David Torrance will lose his captive audience for anti-independence drivel. The Scotsman is in an even worse situation with less than 20 000 daily sales. Even I have had nearly 10 000 on a few rare days and my publishing budget is SFA.

BBC Scotland News won’t reveal its viewing figures. We must assume that’s because they’re too scared to do so. We do know that Scotland 2016 manged no more than 30 000.

The important point is that come Indyref2 in say 2020, the media landscape will be transformed from that of 2014, with the majority of the voters accessing news from online sources which are much more likely to be either pro-independence or at least impartial thus more accurate.

Look back at these tiny five-digit figures and remember there are 3 900 000 voters in Scotland. Even if Reporting Scotland were still getting the 500 000 they claimed ten years ago, the vast majority would still be getting their news online.

http://www.insider.co.uk/company-results-forecasts/newsquest-herald–times-ltd-11041153

http://www.bbc.co.uk/news/uk-scotland-scotland-business-39076470

Here’s an extract from the Scottish Government’s more positive but restrained response to our notional deficit followed by the link to Wings over Scotland’s comments: