Wednesday, 24 February 2010
SCOTTISH OIL RESERVES 'UNLIMITED'-INDUSTRY SPOKESMAN
SCOTTISH OIL RESERVES HIGHER THAN PREVIOUSLY THOUGHT
Commenting on the survey by the offshore industry association, Oil and Gas UK , which finds that North Sea oil and gas reserves are practically unlimited, SNP MP and Energy Spokesperson Mike Weir said that future revenues from oil should be invested for Scotland 's future.
Mr Weir warned that the lessons of the 1970's, when London politicians claimed the reserves would not last long, must be remembered and made the case for the establishment of an oil fund to secure the benefits of oil revenues for future generations. Commenting Mr Weir said: "Scotland's oil and gas industry is the only thing keeping the London Treasury afloat - over the next six years, £50 billion worth of North Sea revenues will flow to the London exchequer. "That alone represents over £20,000 for every household in Scotland .
"The London politicians must not think it they can fool the people of Scotland again"!