TheRemainsOfTheDave
Well-Known Member
- Joined
- 16 Mar 2017
- Messages
- 6,491
That is a cracking summary of the oil argument.If Scotland leaves the UK and comes to rely upon oil then seriously they are in for a whole world of pain. Oil is one of the most volatile and politically sensitive commodities there is.
If you understand the oil industry then you'll understand that sitting on any number of oil reserves is pointless. Oil has to be taken from the ground, refined and then sold as a final product. All of that comes at a cost.
The amount of oil under Scottish waters is therefore irrelevant, all that matters is whether those oil reserves are feasible and profitable which is driven by the cost it takes to get it of the ground against the oil price of the day.
The Saudi oil companies etc are major producers, Scotland is not. They could put Scotland out of business overnight because they can absorb low oil prices. We saw this immediately after the Scottish referendum when Saudi oil tankers were circling in the gulf because of high supply.
It would be utter stupidity to leave the UK.
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