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New Figures Show Oil Revenues at Record Levels SNP \|\| May 01, 2006 SNP Leader Alex Salmond MP has released new figures from the House of Commons Library which show that with Brent Crude Oil at over $74 a barrel revenues to the UK Treasury are now running at Ł12.8 billion a year from the Scottish sector of the North Sea - up from the Ł9.7 billion for the Scottish sector forecast in the Chancellor's recent budget. Speaking from Moray Mr Salmond said: "As world oil prices reach a record high, so too do the revenues from the Scottish sector of the North Sea. "This latest estimate from the House of Commons library shows revenues from Scottish oil increasing steadily - with the Chancellor now taking over Ł1 billion a month. Article Posted at www.KnowledgeDrivenRevolution.com "This is money that could transform Scotland, money that could put Scotland into a different league economically, with a huge budget surplus and the opportunity to invest for the wealth and wellbeing of the whole nation. "According to the Treasury's own estimates, for every $1 increase in the oil price, revenues increase by Ł200 million. Since the Chancellor's most recent budget, that has meant an increase of over Ł3 billion from the Scottish sector alone. "And as oil prices rise and the revenues continue to flow south, it is time for Scotland to take responsibility so we can invest our nations rich resources in Scotland's future and bring greater wealth to all." About KDR \| \| Home \| \| Weekly Features Archive	Weekly Weekly Features Archive
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New Figures Show Oil Revenues at Record Levels

SNP || May 01, 2006

SNP Leader Alex Salmond MP has released new figures from the House of Commons Library which show that with Brent Crude Oil at over $74 a barrel revenues to the UK Treasury are now running at Ł12.8 billion a year from the Scottish sector of the North Sea - up from the Ł9.7 billion for the Scottish sector forecast in the Chancellor's recent budget.

Speaking from Moray Mr Salmond said:

"As world oil prices reach a record high, so too do the revenues from the Scottish sector of the North Sea.

"This latest estimate from the House of Commons library shows revenues from Scottish oil increasing steadily - with the Chancellor now taking over Ł1 billion a month.

Article Posted at www.KnowledgeDrivenRevolution.com

"This is money that could transform Scotland, money that could put Scotland into a different league economically, with a huge budget surplus and the opportunity to invest for the wealth and wellbeing of the whole nation.

"According to the Treasury's own estimates, for every $1 increase in the oil price, revenues increase by Ł200 million. Since the Chancellor's most recent budget, that has meant an increase of over Ł3 billion from the Scottish sector alone.

"And as oil prices rise and the revenues continue to flow south, it is time for Scotland to take responsibility so we can invest our nations rich resources in Scotland's future and bring greater wealth to all."

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