Salmond slips on oil

The argument about the prospects for North Sea oil took centre stage this week in the debate about Scotland’s independence, as David Cameron and Alex Salmond both hosted meetings in or near its petro-economic centre, Aberdeen.

The meetings were timed to coincide with the publication of a report by Sir Ian Wood, a “neutral former oil executive”, on how to maximise the potential of North Sea reserves, says The Daily Telegraph. Sir Ian predicts at least £200bn in future oil and gas revenues, but only with a “coherent fiscal and regulatory regime”.

Shrunken margins and looming decommissioning costs will require [...]

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