Alex Salmond has dismissed claims that Scotland cannot look after its oil and gas reserves alone, arguing he worked in the industry while David Cameron "was fooling around on the playing fields of Eton".

He clashed with Cameron over how best to support North Sea oil extraction as both men prepare to hold cabinet meetings near Aberdeen.

The first minister also branded George Osborne's warnings that Scotland would not be allowed to keep the same currency his "sermon on the pound". This is a reference to Margaret Thatcher's much-resented "sermon on the mound" in Scotland giving a theological justification for capitalism.

Despite one poll in the north of Scotland for the Press and Journal saying the yes vote for independence has slumped to 17% versus 65% for no, Salmond insisted on Monday morning that the race was tightening.

He will use his cabinet meeting in Portlethen, six miles from Cameron's gathering, to say an independent Scotland would offer stability and certainty to the North Sea industry.

Salmond has put the oil industry at the heart of his campaign, telling Scots that remaining reserves are worth £300,000 per person.

The meetings at the heart of Scotland's energy industry coincide with the publication of a report by Sir Ian Wood, a retired oil billionaire, saying there is still £200bn of benefits to come from the fields over the next two decades with the right reforms.

Cameron supports the report and endorses the creation of a new regulator to help create co-operation between North Sea companies, but argues the "broad shoulders" of the UK are needed to support the industry.

His announcement implies that Scotland would be unable to sustain such a large increase in support for the industry as an independent country.

Downing Street stressed on Sunday that the larger UK was "well placed to absorb the shocks of oil price volatility that would dramatically affect a small country's budget".

Ed Davey, the energy secretary, has said reforms to the North Sea oil industry could bring an even bigger boost than the exploitation of shale gas, which senior Conservatives have hailed for its potential to bring down bills and increase energy security.

However, he also warned against Salmond putting all his eggs in the same basket by relying too much on oil revenues, which can be volatile.

"I'm afraid Scotland isn't Norway and if it becomes over-dependent on the tax revenues of oil and gas it would have to raise taxes an awful lot when the oil and gas declines further, or it would have to slash public expenditure. So I think Scots should be very worried that the SNP are putting so much emphasis on oil and gas," he told ITV's Daybreak.

While in Scotland, Davey is also unveiling government support for a carbon capture and storage project at Peterhead, after years of delays and setbacks for the new green technology.

Salmond welcomed the creation of the plant but said this was "something we've been calling for for over a decade and successive Westminster governments haven't gone ahead with".

The first minister has called for Cameron to debate with him on the issue of independence while they are both in the same area but this has been rejected by the prime minister.

Before the cabinet meeting, Alistair Carmichael, the Scottish secretary, told the BBC: "We're here to make the case for the United Kingdom, to do the business of government. We're not here as a stunt. We're not interested in sideshows.

"Remember Alex Salmond isn't really interested in debating with David Cameron. He's just trying to show this as a contest between Scotland and England. It's a pretty crude tactic; nobody's particularly impressed with it."