Friday, June 13, 2008

SCOTTISH OIL RESERVES EXCEED ESTIMATES

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A typical Scottish house of the future. (http://en.wikipedia.org/wiki/Image:Emirates_Palace_Hotel_Abu_Dhabi_front.jpg)

There is a lot of oil left in the North Sea, much more than most people think.

"Untapped North Sea oil reserves far exceed industry estimates... according to geological experts.

"Industry experts now believe that the remaining reserves exceed current estimates by as much as a fifth." - North Sea oil reserves could be a fifth higher

The Scottish Government points out that soaring oil prices have produced an additional North Sea tax bonanza of at least £4.3 billion. - Scotland wants share of oil tax

Scotland would be the third richest country in Europe if it was independent.

"Ultimately, Salmond hopes that an independent Scotland would receive a 90% share of North Sea oil revenues, making it one of Europe’s richest countries with an annual budget surplus of more than £4 billion." - Alex Salmond demands £1.5bn oil cash

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