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Old 8th Oct 2006, 17:48
  #37 (permalink)  
Ecce Homo! Loquitur...
Join Date: Jul 2000
Location: Peripatetic
Posts: 10,013
Scotland on Sunday, January (Well known English rag.) : ...."Would an independent Scotland have done better with North Sea oil? A slower rate of depletion could well have helped create a huge Norway-style fund. But there are big challenges to this counter-factual, even assuming the 80% apportionment was legally upheld. First, would the oil companies have gone along with slower extraction? After all, they had sunk enormous capital into North Sea exploration and development, much of it borrowed in expectation of near-term payback.

Second, would the North Sea oil revenue (now £4.3bn) under this alternative model now be yielding more than the £11.3bn subsidy currently paid to Scotland?"

Anyway, what's that got to do with Scottish football. Unless you were expecting there would have been an Angus MacBramovitch to bring in a few more good players.....
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