The current price of oil curtails the North Sea revenue bonus to Scotland’s finances but that we are seeing prolonged low prices now (due to geopolitical influences rather than supply and demand) makes it more likely that the price will rise in 2016. The World Bank and IMF forecast steady rises to around the $70 mark in 2020 with the EIU more bullish at $90.

The argument that Scotland’s post-independence economy would be dependent on the price of oil has been totally debunked by the fact that the price has fallen to unforeseeable lows and yet our economy in many areas has outperformed the rest of the UK. An independent Scotland could invest for growth rather than wait for Westminster austerity to slow the economy and create a new economic crisis.

Hearing again that oil production increases have boosted the UK’s economy, I can’t help but wonder, if Scotland didn’t have oil would we already be independent?

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