The REAL Reason Britain is Freaking Out About Scottish Independence


David Cameron and the British media have been freaking out about the potential Scottish independence.

They’ve blathered on about “history”, “common defense” and other red herrings.

But it’s really all about oil …

Specifically, if Scotland becomes independent, it gets to keep 90% of the revenues from its huge oil reserves.

The New York Times reports:

Scottish nationalists have long argued that being governed from London has deprived their country of its fair share of the wealth from Britain’s oil and natural gas fields, which mostly lie in North Sea waters off their shores.

“It’s Scotland’s oil” was the rallying cry in the 1970s that helped raise the profile of the Scottish Nationalist Party, which now leads the country and is pushing for a vote to secede in the referendum on Thursday. Alex Salmond, the politician leading the separatist movement, has pointed to North Sea energy as the treasure that would help finance an independent Scotland — ensuring that the country could continue the generous public spending, including free university tuition, that he is promising voters.

Al Jazeera notes:

Massive oil reserves in the North Sea are at the heart of the Scottish independence debate. Many are questioning whether the reserves are just for Scotland or if the rest of the United Kingodm should continue to benefit from their profits.

NBC writes:

The ‘Yes’ campaign … says Scots should have total control of their own affairs and that revenue from Scotland’s offshore oil fields would sustain the country’s economy

In addition, as Max Keiser explained:

(1) The UK can now borrow cheaply using the giant Scottish oil reserves as collateral

(2) If Scotland leaves, the collateral (oil reserves) is no longer available

(3) So the cost of borrowing money for Britain skyrockets

Scotland’s North Sea oil reserves are slowing running out, and so oil won’t be such a valuable resource forever.

But for now, it is still invaluable (especially as collateral for British borrowing) … and the key to Britain’s panic over potential Scottish independence.

This entry was posted in Business / Economics, Energy / Environment, Politics / World News. Bookmark the permalink.
  • Lokis

    say YES to the Oil – Scotties

  • cybervigilante

    As long as Bendover Britain is keeping Assange a prisoner for the crime
    of telling the truth about the US government, everyone should break from
    their rotten grip.

    I wouldn’t put it past the Brits, in collusion with our own intelligence services, to pull some dirty, sneaky trick. After all, the US is the King of rigged elections.

  • Finn McCool

    The oil is the, as you say, the major reason the English government want to maintain the Union. But Trident is the real elephant in the room. The UK is essentially a paper tiger punching far above its weight internationally. Trident is the only thing which lends an credibility to the UK’s present position in the world.
    By the way. Scotland will not be seceding from the union. A YES vote is a vote to repeal the Acts of Union of 1707. After Independence there is no United Kingdom. There will be Scotland and England. No rUK. This leads to many interesting constitutional questions to follow 🙂 Should England then have to apply for EU, NATO and UN membership? Would England still be on the Security Council?
    So, of course the oil is important, but the breakup of the Union could lead to interesting times!

    • i am gonna change my nick to “Judd O’Cool”. Whatcha think?

      • Finn McCool

        As long as you don’t get it wrong, as in O’Tool. 🙂

        • He was a great actor; God rest his soul.

  • TheJokool .

    Limited thinking is the problem here. I suppose being a politician is synonymous with not being a free thinker.. Let me spell it out for you.Bring out the suppressed technologies Cameron…Your pals in industry have it, so just go ask them.

  • btb

    Would LOVE Scotland to join BRICS or SCO.. Now THAT would put the screws on Camoron.

  • Scotland the Brave

    Sure England wants to continue the good deal it has been enjoying from the North Sea Oil off the coast of Scotland, but the question for Scots cannot only be on improving just their economic lot, short term. My Scots ancestors above would have loved to have had the opportunity to finally have Scotland free socially and politically. William Wallace, Rob Roy and Robert the Bruce would have preferred all along Scotland to have been free versus having been forced to wed with England in 1707. Just do not agree with the concept that it will be the end of the world for England, if Scotland decides to take charge of its own destiny. Just because a child reaches the state where it grows up to live on its own does not mean that it rejects the parent. Also, I believe that by Scotland voting No for independence out of fear of some kind of imagined catastrophe, is a good reason to continue the way things have been for last 300 years. Scots are a smart people and will know what is best for them in governing their future!

    • hades

      The entire WORLD system is against Scottish independence,
      The article is pretty much spot on as last year the UK sold $65 billion in oil (with a good % going to the exchequer in corporation tax) to the rest of the world.
      It doesn’t seem like much for a $2.8 trillion economy, but when that country is running yearly trade deficits of 4/5% of GDP even with oil and is heavily involved in the credit markets, its obvious to see the potential problem here.

  • Scotland the Brave

    Correction. Believe that Scotland voting No on independence out of fear of some sort of imagined catastrophe is not a good reason for continuing the track of the last 300 years.

  • Rehmat

    David Cameron, Ed Miliband and the rest of Zionist establishment are worried sick that an independent Scotland will be more pro-Palestinian than United Kingdom.

  • Mike333

    Any country with oil will have a Civil War, Guaranteed.

    • samlebon23

      It’s called the black curse.

    • Paul M

      Helvete! Better tell my Norwegian friends to pick a side…

    • Paul M

      And there’s been a notable lack of civil war in the UK lately…

  • Lead the way Scotland. Vote Yes. The world supports you.

  • Yes, gob loads of oil and it is the good stuff; light crude.

    But the English being clever as an inquisitive whiphand have already mooted the independence of the Shetlands and the oil fields around them.

  • David

    Well, the banksters control the money supply in the UK. Heck, Rothschild lives in London. Hope Scotland votes “yes”, creates their own commodity back currency, and keeps the banksters out for good.

  • lonewolf777

    Yes yes yes yes

  • whisper

    Parlament is a bunch of child rapist, and the Queen protects them.

    • Adam Wiederholt

      the Queen has to keep her supply of young children to drink blood from.. to keep her “health”.. there’s just no wonder why she hasn’t died from old age yet.

  • Adam Wiederholt

    I will gladly leave United States to help Scotland remain Independent.