Sunday, December 11, 2011

Scottish barrels of oil

I had been searching my computer for this info and have eventually found it.

Maybe someone can point out where I am going wrong.
If the UK in 2005 produced 1,870,000 barrels of oil per day in 2005 and there are 158.7 litres of oil in a barrel then that equals 297,143,000 litres per day (1,870,000x158.9)or 105,782,908,000 litres per year (297,143,000x356) and the UK charges $1 of taxes on every litre of oil and the current exchange rate between the dollar and the Pound is 65p per dollar then that amounts to £68,758,890,200 per year (105,782,908,000x0.65) going into the UK treasury.
Isn't that considerable more than we get from the Barnett formula? Surely I've made a mistake somewhere?


  1. Hello GED,
    Like you I have been trying to collate all the statistical figures regarding spending and revenues in Scotland. I also see that there is a surplus before oil & gas revenues, I also see that Scotland is not alone in receiving over their 100% according to the Barnett Scale, Wales and N.I. do also with N.I. receiving a lot more, however if England was to show their regions it would show that London, N.E & N.W also receive above the 100% leaving other regions in England below.
    In addition to all this I found an article regarding Corporate tax on Oil & gas production was to be increased from 62% to 80% and the effect it would have on Scotish & British jobs. This increase was to offset another rise in fuel duty, so if it didn't go through they would still get it on fuel duty!
    I also don't understand why accurate figures have not been produced collating all the different statistic available. Perhaps this is something that will emerge during the process to Independence, I hope so as I am no expert but it looks to me that the books are being cooked and Scotland has been getting a rough deal for decades if not for 305 years!!

    1. I have tried to get updates at the OPEC site but since I posted this on 'Blether with Brian' [when he was accepting comments] I have now found it impossible to get the UK's figures from that site. Strange that. We have all known that we have been getting ripped off but never had the chance to find out what those figures are because the way in which the UK's treasury collate their figures, and then put them out into the public domain, even qualified accountants are flummoxed. There is a deliberate policy to hide what Scotland puts into the UK's treasury and, I suspect, that this also applies to Wales, Northern Ireland and the regions of England.
      Did you read what I posted on that Canadian newspaper [through aye4Scotland] about the English MP and his questions in the House of Commons? If not it is worth a read.

    2. I found the article on Blether with Brian posted on 18th March, 2010:

  2. No mistake buddy, we're just stupid, gullible, common wee Scots, who believe what they are told, and do what we are told in the name of all nurturing mother England. For after all, our betters no best! (no chip on shoulder, much!)