‘Oil policy more stable under independent Scotland’

Scotland’s First Minister Alex Salmond says the North Sea oil and gas policy would be more stable under an independent Scotland.

“One of the things that a Scottish control of oil and gas would offer is a much more stable long-term policy,” Salmond said on the state-run BBC Radio 4’s Today programme on Monday.

The Scottish National Party (SNP) leader also accused the British government of mishandling the industry over the past 40 years through regular changes in oil ministers and taxation regimes.

Salmond criticized Westminster’s policies on the sector for causing “uncertainty” and deterring investment.

Moreover, he promised that an independent Scotland would manage oil revenues better.

Salmond made the remarks as the UK and Scottish cabinets are holding separate meetings in the Scottish city of Aberdeen to discuss the future of the North Sea oil industry.

As the debate intensifies on Scottish independence, London is now promising to boost Scotland’s energy sector.

British Prime Minister David Cameron said on Sunday the oil and gas industry would be best served by Scotland remaining in the UK.

He also claimed the UK’s “broad shoulders” were best able to support investment in the industry in the future.

The Scottish leader, however, called Cameron’s comments “nonsensical,” adding, Scots have to “glance across the North Sea to Norway” as an example of a small nation with one of the world’s most successful oil and gas industries.

Earlier, Salmond accused Britain of swallowing up North Sea oil revenues for decades instead of investing them in an oil fund.

The UK’s tax revenues from oil and gas in 2012-13 were reported to be £4.7 billion lower than the previous year, representing a drop of more than 40 percent.

Scotland will have its independence day on 24 March, 2016, if Scottish people vote to break away from the UK in a referendum on 18 September, 2014, after more than 300 years of political union.