Tuesday, September 16, 2014

is this the real issue at the heart of the scottish independence vote?


euanmearns |  On 18th September 2014 (in a few days time), Scotland will vote on the following question:
Should Scotland be an independent country?
Answer YES and the vote is for independence, answer NO and the vote is to stay with The United Kingdom. Energy has not figured at the top of the debating issues that have been dominated by currency union, the economy and disaffection with Westminster. The future of North Sea oil has been on the second tier but periodically gets thrust into the limelight, normally on the back of sensational headlines about the future. Part of the current reality is that Aberdeen is in the early stage of cyclical recession, brought about by declining production and soaring costs now exacerbated by Brent sliding below $100/ barrel. Redundancies have already begun. In this post I want to examine three issues that have been in the news 1) future exploration potential 2) offshore fracking and 3) remaining reserves.