Thursday, March 26, 2009

Oil Wealth

Is this Glasgow or Abu Dhabi? Author of photo:

Some sections of the media would not like you to know about Scotland's oil wealth.

In The Herald (UK), on 7 March 2009, there is a letter by Nick Dekker about how the North Sea legacy could have rivalled Abu Dhabi's and Saudi Arabia's and Dubai’s.

Among the points made:

1. Abu Dhabi's sovereign wealth fund is the biggest such fund in the world.

2. Over the past 30 years Scotland has produced more oil than Dubai and Abu Dhabi combined.

3. Scotland has produced almost as much oil per capita as Saudi Arabia over the same period.

4. There is still an enormous amount of oil to be recovered from the North Sea.

5. Dubai, Abu Dhabi and Saudi Arabia are investing vast sums in their infrastructure.

6. The Scottish Government has to haggle with England over how to finance a single fairly modest bridge over the Forth.

Bert Hardy,The Gorbals, Glasgow, 1948

Scotland has 44 more years of oil left. It is time for Scotland to be independent.