Why can't we keep Scottish oil?

[pharmachameleon]

I'll start off by saying I am against Scottish independence on economic grounds. Voted no in 2014 and haven't changed my mind. However I was out with a friend at the weekend who is for Scottish independence and I didn't really have the answers to the discussions we had.
We were talking specifically about oil (we did have fun really-this was the only serious topic we discussed!) He said in 2014 one of the big arguments from the unionist side was 'THERE IS NO OIL LEFT' however now with the new oil contact granted in Rosebank this argument has been disproved.
Can I play devil's advocate and ask why can't Scotland keep the revenues from oil drilled off Scottish waters? I realise these waters are UK waters however why can't they be Scottish? Ignoring the net zero targets of course!
I realise this question makes me sound like an idiot so I'd never ask it in real life-only on anonymous Mumsnet! Can anyone help me understand?

You can smell the desperation from the SNP faithful. Twitter/X is hilarious.

Just had a leaflet through from our odious lazy fuck wit of an SNP MP who will unfortunately retain his seat and young adult DS offered to take a shit on his face. 😂💩

The cost of running gas and oil platforms is huge. If Scotland became independent they would have to use someone like Shell to run them.

As an aside there’s gas 35 km offshore from Gaza.
Israel have obstructed it’s development since its discovery in 2000.

If independence movement had been strong and successful gaining independence in late 60 s early seventies then we would hopefully have been like Norway as long as smart politicians were available to implement it .

Margaret Thatcher did raise the possibility of an oil fund for UK but it was decided British people wouldn’t pay the tax rises which Norway was implementing to enable the fund .

Once again, when we talk of tax rises what you are suggesting is rise in the top rate of tax that was already at 83%, a basic rate that was already 33%, high inflation and mortgage rates of 17% and a country that had been paralysed by strikes (under Labour). Against that backdrop and the depression of the post war years, how do you think an independent Scotland could have afforded to not spend oil revenue?

Ah, I haven’t had a laugh like this for ages!!! What a lunatic!

The assumption that an independent Scotland could join the EU is specious. Each member state has a right of veto on new member; Spain may use theirs. Another issue is the budget deficit, EU states must have them below 3% of GDP and public debt below 60% of GDP. Scotland would start with an 8% deficit and 95% public debt. Slash public spending or a huge tax hike? The current cost-of-living crisis will seem like a happy memory.

It also needs a record of currency stability - currently Scotland does not have a currency let alone any record of a stable one.

RobG's been at the whisky

You could add the word 'Western' (if its important to you, I'm sure it is)
Kinda not the point though, seeing as Scotland is as broke as Wales as a part of the UK. Do you know how much richer Scotland is compared to England or Wales?

re; Saudi. -How cheap is someone else's oil? (not Scotlands obvs. that is taken for free and used and exported) Whats your point about Saudi Oil? It belongs to the Saudis so it doesnt matter how cheap it is. 😀 Scotland has over a Century of recoverable, saleable oil. In fact its self sufficient for energy even without the oil.

🤣 The Scottish have Grangemouth Oil Refinery 🤣🤣🤣🤣

Actually I was enjoying a rather nice cup of Yorkshire Gold 😀

Scotland had a currency until it was abolished. Scotlands currency will be the 'hardest in Europe' a quote from Gavin Mccrone.

Loads of Comedians on this thread lol 🤣

Interesting; -so why are so many English people hurrying to move to Scotland?🤔

Because Scotland isn't an independent country. "Scottish oil" is U.K. oil.

Blasphemy!

We voted to stay in the UK so it's British oil, not Scottish

Gosh, you are behind the times. Might explain why only one SNP MP bothered to turn up to the debate about its closure.

And the French had the Livre and Sous

Because if you bothered to read the full thread you would have realised there was discussion about imports including Saudi oil and how come it's cheaper to extract. The price of oil is set by global markets per barrel and goes up and down but the cost of extraction and refinement all add up.

I don't need to add the word Western, it's still Luxembourg and still not Scotland I suggest you look at a map!

I'm not sure what Indy drum your banging but you clearly are showing your ignorance on multiple economic basic elements along with understanding of the energy sector.
Also Scotland is not self sufficient for energy it creates a high amount of wind energy which can power scottish homes. Unfortunately wind power is not constant and diffulties in storage hence Scotland (like rUK) is reliant on multiple sources through national grid and also oil for large parts of rural areas and Islands for heating.

Maybe go do some reading on how the energy industry works before spouting rubbish?!

It is hard to take someone seriously who arrives to post about oil and doesn’t know Grangemouth announced its closure over six months ago

They are closing it. Did you not hear? All down to the SNP and their green chums.

Benefits. The highest paying taxpayers are fleeing and the lowest paying taxpayers are arriving. There was a study into it published recently. Do you just gullibly believe everything that is poured down your neck fro me SNP HQ without engaging your brain?

Scotlands currency will be devalued by 20% on day 1 and then would be open for fun for currency speculators. It’s the number 1 reason why we (both top rate taxpayers) will be out of Scotland as soon as possible. We have a mortgage. Paying a GBP while earning Scot’s£ would be no joke!

Sounds like you think you can see the future. The GBP (and its not been 'Great' for two decades) will potentially fall to 80c, unprecedented, but thats what will happen when the oil is not there to underwrite the doubled debt that the UK has (which no one speaks about, a debt of around 2.5 Trillion and climbing) and keep Englands pound Sterling afloat.

There is currently, an exodus of people moving to Scotland from England right now, that has been well documented, and if you are unhappy with Scotland you can of course leave. You just cant live in Europe as easily now because England took Scotland out of the EU. I am confident, the Scottish will be fine.