Sturgeon’s independence is shot down by Vicky Price. ‘The days of oil benefiting Scotland are long gone.’
SCOTTISH independence hopes have been dealt a major setback after economist Vicky Price destroyed a key pillar of Nicola Sturgeon’s UK separation strategy.
Scotland, according to the Greek-born economist, will no longer benefit as much from rising oil prices as it previously did. The presence of oil in Scottish territory has long been cited by the SNP as one of the most important aspects of its drive for Scottish independence from London. But Vicky Price, speaking to GB News, slammed the policy, saying, “Long gone are the days when Scotland benefited from increases in oil prices as a matter of course.”
“They’re now very much a part of the big global picture, and they’re affected in the same way that everyone else is.”
“However, because of the way their economy is structured, individual sectors are less affected.”
While England and Wales were thrown into pandemonium last month over fears of a fuel shortage, Scotland’s petrol supplies were less affected.
Nicola Sturgeon has been told that relying on Scotland’s oil fields to promote her independence agenda will be ineffective due to the industry’s shifting status.
“The tax take on the oil business will surely go down to zero, and you know that is an actual fact,” Lord Provost of Aberdeen Barney Crockett stated earlier this year.
“Last time around, a lot of the debate was about how we could spend the tax and oil money.
“However, there won’t be any oil money, and what level will [nationalists]try to raise the tax to pay for [independence]?”
“To be honest, the second [point]is Aberdeen’s main concern.”
Concerns about climate change, the drop in oil prices, and the shift to renewable energy sources have made relying on North Sea oil less enticing than in previous decades.
Due to the industry’s inability to fully use supplies, the price of Brent crude fell to its lowest level in over 20 years at the height of the coronavirus outbreak.
Nicola Sturgeon abandoned the SNP’s support for maximum oil and gas extraction in August, calling for a reassessment of existing drilling licenses.
Opposition parties chastised her, with the Scottish Conservatives suggesting the U-turn was part of a ruse to secure a coalition pact with the Greens.
Scottish. In a critical letter to the First Minister, “Brinkwire News Summary.”