Everyone in Norway is a millionaire

[NickB]

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Everyone in Norway became a theoretical crown millionaire yesterday (8th Jan 2014) in a milestone for the world's biggest sovereign wealth fund.

Reuters article

That could have been us, in a parallel universe. Perhaps it could still be us in 40 years ?

More about Scotland's oil HERE

[longshanks]

In perspective that is £100,000 per head at today's rates.

Given that, by constitution, no more than 4% can be spent each year that's only £4,000 per head (NOTE: Norway's Right Wing Government is considering increasing this from 4 to 5% but is busy planning the privatisation of the state owned oil company at present).

Sure, a warmish feeling for each Norwegian but hardly relevant to the separation debate which, if its reduced to voting yes or no depending on being a few bob better off will tell us something rather sad about ourselves.

We mustn't forget that the estimated £1trillion of oil left in UK waters is not owned by Westminster but by multinational oil companies very, very few of which are Scottish. We are only entitled to the tax revenue on the profit made from the sale of that oil each year until it runs out in about thirty years or the wells are shut down due to either peak demand having been reached or climate change becoming a major concern. Lets not forget that The Greens want 2/3 of the North Sea oil left in the ground.

So, yeah, nice for the Norwegians (despite the fact that it'll be difficult for some to celebrate with beer there being around £10 pint) but for us? Well, there a much more important things we need to consider before voting yes or no to either preserve or break up the great British family of the UK.

Happy New Year All by the way.