It's amazing just how blessed and lucky Scotland really is. According to a recent report by Sir Ian Wood, there are an extra 3 - 4 billion extra barrels of oil that could be extracted from the North Sea. They're worth around £200billion.
But what's even more interesting is the oil off the west coast. Never heard of it? That's because the UK government never talks much about them. But the estimate from the UK's Department of Energy and Climate Change (DECC) is 7.9 billion barrels of oil under the firth of Clyde and an area of the Atlantic Ocean called the Scottish Atlantic Margin. Some oil analysts talk about Scotland floating on oil, with the reserves on the west coast and the Atlantic Margin dwarfing anything found in the North Sea.
The reason that there's been no exploration in the firth of Clyde is because the Ministry of Defence refuses permission for any oil exploration because of the Trident nuclear submarine base at Faslane. But of course if we were independent, then these refusals would swiftly be reversed and we'd be at the start of a new oil boom.
The point is that the oil companies know exactly what's buried under Scotland's west coast seas. And so does the UK government. It's just another reason why they're so keen for you to vote No so that they continue to plunder Scotland's natural resources while telling us that we're lucky to receive their subsidies.
Sir Ian Wood: UKCS Maximising Recovery Review Interim Report
The UK Government: UK offshore oil and gas
William C. McLaughlin: The Real State of Scotland’s Oil and Gas Reserves (paper I)
William C. McLaughlin: Scottish Mainland Oil and Gas (paper II)
The Sunday Post: Did MoD block oil boom in the Firth of Clyde?
Wings over Scotland: The Picture Spin Quiz
Business for Scotland: Oil: An independent Scotland will benefit from better exploration techniques