Fall in oil prices

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During the referendum campaign much was made by the No side of the volatility of oil prices and the potential detrimental effect this would have on the revenues of an
independent Scotland.

The implication seemed to be that somehow, if Scotland remained part of the United Kingdom, it would be imm­une to the vagaries of the oil market.

Now, post-referendum, we are hearing that cutbacks are already being made in the North Sea and thousands of jobs are threatened (your rep­ort, 18 December).

I’m sure if an oil worker loses his job, he will feel much better that the industry is being overseen by a UK 
Government rather than a Scottish one.

But fear not! According to Bill Jamieson, the fall in oil prices is actually a blessing in disguise, as it leads to cheaper fuel, lower transport costs, continued low interest rates and increased real earnings!

Did none of these potential benefits occur to him and other unionists during the
referendum campaign?

Alex Butchart

Edinburgh