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New Figures Show Oil Revenues at Record Levels 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 £12.8 billion a year from the Scottish sector of the North Sea - up from the £9.7 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 £1 billion a month. "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 £200 million. Since the Chancellor's most recent budget, that has meant an increase of over £3 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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