Huge opportunity for Grangemouth - an independent Scotland could grasp it.
Scotland is on the brink of discovering if a just transition away from fossil fuels will be a reality or just a slogan. There is a plan for Grangemouth, Scotland’s only oil refinery, to become a world-leading hub for sustainable aviation fuels.
Scotland is ‘the loser’ from UK Government’s raid on oil and gas
UK Chancellor Jeremy Hunt said the oil and gas industry were the losers from the last budget. But he didn’t go far enough – he should have admitted that Scotland is the loser. Scotland’s economic future is at stake. Failing to manage the transition from oil and gas to renewables effectively would mean a massive loss of jobs and prosperity.
A Business for Scotland proposal to ring fence oil taxes for investment is now SNP policy
Many Scots are angry that the profits from the exploitation of Scotland’s oil for the last 50 years have gone south. There is little to show for the oil boom in Aberdeen and other areas where they were extracted.
Grangemouth closure is serious threat to Scotland’s energy security
Yesterday energy firm PetroIneos announced the closure of the Grangemouth oil refinery and a transition to operations as an imports centre within the next 18 months. Grangemouth is Scotland’s only oil refinery, producing over 70% of all of Scotland’s petrol and diesel. The closure is a worrying development, leaving Scotland without a centre to refine its own oil and making us more vulnerable to dependency on foreign imports for fuel.
Why is Westminster giving fossil fuels firms a cut-price deal for Scotland’s oil?
Much of the response to the decision to give the green light to Rosebank oil field has focused on the climate change issues. Less has been said about the fact that the news will mean Equinor pays billions LESS in windfall tax.
The UK’s “Weak” National Grid is Crippling Scottish Business
The UK’s privatised national energy grid is “weak” and nowhere near where it should be to support the transition to green energy. For some privileged people like Prime Minister Rishi Sunak, the lack of capacity can be overcome – he paid tens of thousands to upgrade the grid near his home to heat his personal swimming pool.
Oil company profits double but are they taxed appropriately?
Shell last week reported an annual profit of almost $40bn for 2022 (£33.3bn). This is double their profits of $19.2bn (£16bn) for 2021 and smashed their previous record of $28.4bn (£23.7bn) set in 2008. Just today, BP also reported profits for 2022 of $28bn (£23.3bn), more than double the amount it made in 2021 and the highest in the company's 144-year history.
Scotland's energy future - Damaged by five UK government failures
Scotland currently produces the most renewable energy per capita among the UK nations and is a potential global leader in this field. Hydrogen in particular could represent Scotland’s greatest industrial opportunity since the discovery of oil and gas in the North Sea. The technology has the power to unleash huge economic benefits while supporting the transition to net zero.