How does Alex Salmond get away with making statements which seem to be accepted as fact without question? The latest Salmondism was regarding investment in the North Sea.
His rhetorical question was along the lines of: “Why would any company increase their investment in the North Sea if they weren’t going to get increased returns?” The answer he would not want to hear is, of course: “Because the reserves in the areas they are currently working in are becoming exhausted and if they did not invest, there would be no return at all.”
The writing on the wall was clear for those who chose to look during last year’s problems at the Grangemouth oil installation. Ineos was looking for stability so it could invest in new storage facilities for gas from the United States because North Sea gas was running out.
This investment had to be ultimately underwritten by the United Kingdom government, a fact which the SNP has chosen to ignore. By his own admission, if you were a 60-year-old, about to have your first grandchild, by the time that child had reached the age of 50, ten years younger than you are now, the North Sea oil reserves would be finished.
It was not a very proud boast on his part that “Scotland’s” oil will last for another 50 years but at least it was for him a refreshingly honest report that his precious oil will be gone during the lifetimes of our children or grandchildren.