Extract from Opposition Day debate (Commons) on Oil and Gas Producers: Windfall Tax - Feb 1

Alan Brown (Kilmarnock and Loudoun) (SNP):...The North sea has contributed £375 billion in revenues over the years, but as we have heard, unlike Norway’s $1.3 trillion oil and gas fund—the largest sovereign wealth fund in the world—we have no legacy from that money. As well as having that fund, Norway has used its money to invest in renewable energy such as Hydro  to create a much greater uptake of electric vehicle ownership. More importantly, it has created a much fairer, equitable and happier society. Meanwhile, in Scotland we are tied to Westminster, and we are getting blocked with pump storage Hydro  the Acorn CCS project is still a reserve, and we could have had higher levels of investment in tidal stream...

To read the whole debate, CLICK HERE