1,500,000,000,000 is a big number isn’t it?and it should be,It represents 1.5 Trillion.
0 or Zero..Is the smallest number you can get before entering into the world of negative figures. And It represents having nothing at all.
So in what world do we live in when 1,500,000,000,000 is equal to or less than zero?
It is the world of British nationalist economics.
You may or may not have noticed the oil argument briefly raising its head the other night in the Scottish media political discussion programmes,after the latest report from the Institute of Fiscal Studies reinforced the fact that Scotland is in a stronger financial position than the UK as a whole, and would as an independent country have lower debt levels than the rest of the UK.
It came up with some interesting titbits which had the politicians going into a lather of economic ecstasy.
Who would have thought for some of these people, that economics is more satisfying than sex? It takes all sorts I suppose.
But anyway,with both sides trying to claim the report supported them, here are some of the basics which the nationalist side liked.
The IFS report confirmed that Scotland is in a stronger financial position than the UK.
With a £1.5 trillion asset base in the North the Sea and the growing renewables industry – Scotland is excellently placed to move forward as an independent nation
That the Scottish GDP (incl. Geographic oil share) of £27,732 per person is 117% of UK average
That Scottish onshore taxes were HIGHER (as a share of GDP) than the UK average
Ok..are you bored rigid yet? I am!
I was never that keen on maths and stuff when I was at school,and it still leaves me cold. Even though I did somehow manage to achieve a Business Studies HNC including economics, accountancy and statistics…but dear oh dear…I would rather visit my dentist!
However needs must..
In short simple terms what this report was saying, was that Scotland would do fine as an Independent country..no question. In fact we would in all probability do better than the rUK,at least during the remaining period that we had the oil, over the next 40 years or so,going by the conservative figures the UK government supporters say…and up to 100 years by other oil industry analysts.
Bear in mind we are only talking North Sea fields here…I have had it on good authority from a French Oil company analyst, that there is potentially considerably more of the Black stuff on the Atlantic side,than there ever has been in the North sea. Would make the North sea amount seem like a mere bucket full in comparison. However the British government has for years, refused to allow any of these fields to be opened up. But you will notice their sudden rush to grant a whopping 168 exploration licences in the North Sea in the past year…Now why would that be I wonder??
Anyway..I don’t want to bore you further with Oil talk… but lets say that even at the most basic, and minimalist conservative figures that the British government can contrive… Economically..Scotland is sound as an Independent Country.
Ok..What does that really mean for the ordinary person? So what..we have all this Oil..but how is that going to effect my life and my childrens lives, and my grandchildrens lives? The black stuff could be flowing out of my kitchen taps..but what good does it do me..I don’t earn any money from it! I can’t give my kids oil to drink!
The fact is, it makes a huge difference, and will continue to do so, if managed properly.
If managed properly,and not squandered and redistributed to pay for a bust economy,as it has been,paying for vanity projects in the South Of England,and shared out among the City Financiers and Big Wigs.
It can be managed, some of it banked for a rainy day, some of it helping our economy to grow, and to invest in other profit making projects, creating work, eduction,social and community projects, and opportunities,and even giving every adult in the country a nice wee cheque to have a merry Christmas.
Much like the Norwegians have done with theirs…To make them the top economic and socially wealthy country in the world.
We can’t do that to the same extent…we lost that opportunity through successive British Government lies, deceptions, and gross mismanagement. (See McCrone Report) but we sure can manage to do a hell of a lot better with the half that still remains.
The British Media and press,and politicians do their very best to make sure McCrone is not talked about.
What baffles me, is that nationalist politicians don’t make more of it?
I can to a degree understand why…they don’t want to centre this round the oil argument again! And we do have a hell of a lot more resources than just the oil.
But it is still important..just to show what extents the British Government will go to, in order to grossly mislead, lie to, and misdirect the people of Scotland.
So given that this report came out, what did the BritNats do? They said…Ahh but…You will only have 40 years oil left..what happens when that runs out…then where will you be? You will have nothing.
And you are going to be well snookered aint ya!
Well actually no..We are amongst the world leaders in the new renewable energy field, which will be the way to go as the worlds oil and gas reserves run out.
We will have been investing to in other industries, growing our economy, and Not squandering the whole damn lot, like you lot have been doing with it.
Just imagine, if we leave it in your hands..you will blow that £1.5 trillion like you have blown all the rest…and we will all be in the grubber!
As it is…Scotland proportionally produces more academic research papers than anywhere else in the world.
We are No.1 in the world in food science industry. We have the Biggest White fishing fleet in Europe.
We have a booming tourist industry, our whisky sales are going through the roof, our salmon industry makes huge worldwide profits..we have a fantastic games industry..and of course the renewables industry.
We don’t need Oil to create a prosperous economy, but £1.5 trillion in the bank, is not to be sniffed at.
But stay as we are? Yup very good…that £1.5 trillion becomes Zero…we don’t get a penny of it.
Instead of creating a socially just society…we are a mere bit part player in the 4th/soon to be third most unequal society in the developed world. Bring on the austerity,sock it to us ..its going to be a hell of a lot worse. YAY!!!
Note: I have just come across this excellent article by Ian Bell in the Herald. It’s worth a read.