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29 November 2012

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Ian Jenkins

"But as the oil revenues begin to run out an independent Scotland will need to raise its performance in manufacturing and tradable services."

One financial argument for independence is that oil revenues, while they last, will provide a buffer giving time for other income earners to be developed in Scotland.

Renewable energy is a big hope, rightly so. In this connection a widely respected commentator on the global energy market, Michael Klare, wrote about this month's 'World Energy Outlook', published by the International Energy Agency. He thought the content made alarming reading.

"Its portrait of our global energy future should have dampened enthusiasm everywhere, focusing as it did on an uncertain future energy supply, excessive reliance on fossil fuels, inadequate investment in renewables, and an increasingly hot, erratic, and dangerous climate." http://atimes.com/atimes/Global_Economy/NK29Dj01.html

Dambisa Moyo's call for a new global governance institution that manages scarce resources is unlikely to be answered soon. http://www.csmonitor.com/Commentary/Global-Viewpoint/2012/1121/China-is-the-only-country-with-a-plan-to-secure-scarce-global-resources

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