Third World Thatcherite Britain and the Grab for North Sea Oil

1 Mar

Beastrabban\'s Weblog

oil_rig

Last week both David Cameron and Alex Salmond held separate meetings in Scotland with the petrochemical companies in order to discuss the vital question of the ownership and future of North Sea oil. This is a vital issue. The Scots Nationalists I’ve talked to in the past have all been of the belief that not only should an independent Scotland have a right to the oil reserves off its coast, but that this would support the newly independent nation’s economy. Although this wasn’t mentioned in the news reports, Britain faces the same question. If Britain does not retain revenues from the North Sea if Scotland leaves the UK, then the British economy will plummet. It’s a question of economic survival.

I was taught at school that Britain has a ‘third-world economy’. This meant that Britain was like the various nations of the Developing World in that its economy was heavily…

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