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Bad figures: In July last year Alex Salmond claimed North Sea oil was worth "£300,000 for every man, woman and child in Scotland". He may have been exaggerating - considerably.

Bad figures: In July last year Alex Salmond claimed North Sea oil was worth “£300,000 for every man, woman and child in Scotland”. He may have been exaggerating – considerably. (http://www.telegraph.co.uk/news/uknews/scotland/10198532/Alex-Salmond-North-Sea-oil-worth-300000-for-every-Scot.html)

 

What was Alex Salmond saying about oil revenues, again?

He said that oil would bring in revenues of £6.8billion – £7.9billion in 2016/17 (thanks to the Huffington Post for the figures).

How likely does this seem, now that industry body Oil & Gas UK has reported that falling oil prices and rising costs meant the sector spent and invested £5.3bn more than it earned from sales during 2014?

That’s right – last year North Sea oil lost almost as much as the SNP said it would earn in 2016-17.

Operating costs are rising, investment is falling, the cost per barrel extracted has rocketed to a record high, and the price of oil internationally is at its lowest in years, according to the BBC.

While all this was taking place, Alex Salmond was telling Scottish people they could rely on oil generating £20.2billion in tax revenues in the first three years of an independent Scotland. Now – again according to the HuffPost – it seems unlikely to generate a quarter of that figure.

It is hard to believe that Mr Salmond did not know the facts about oil when he was offering the Scottish people all his rosy talk about future prosperity based on oil revenues.

Yet even today, many supporters of Scottish nationalism are adamant that Labour (above even the proven liars in the Tory and Liberal Democrat parties) misled them.

It’s certainly true that somebody has been lying to Scotland.

Is anybody brave enough to admit who it really was?

Follow me on Twitter: @MidWalesMike

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