Crown Estates

[Kenn]

Can any one quote me verse and chapter when the Crown Estates have said that they will give all revenues from North Sea/ Atlantic oil fields to Scotland?

[equusdriving]

Can any one quote me verse and chapter when the Crown Estates have said that they will give all revenues from North Sea/ Atlantic oil fields to Scotland?

I think the only answer to that is a big fat "NO"

[ducati]

I asked David Cameron and even he didn't know.

[golach]

Can any one quote me verse and chapter when the Crown Estates have said that they will give all revenues from North Sea/ Atlantic oil fields to Scotland?

Lizz, no mention of oil revenue on Crown Estates Scotland web site...but I found this

"The marine estate in Scotland consists of approximately 50 per cent of the foreshore and beds of tidal rivers and almost all the seabed out to 12 nautical miles which results in an estate that is both extensive and diverse. It includes oil and gas pipelines, telecommunication and power cables, marinas, ports and harbours, and aquaculture. The marine estate also includes rights to gas storage and renewable energy in Scottish territorial waters and in UK waters adjacent to Scotland."

For the present, our prime focus is on making the plans for renewable energy happen and reducing the risks which might deter the companies that Scotland needs as they make these huge investment decisions. If those plans come to fruition, of course, there will be an income stream. Our best estimate is that the revenues from offshore renewables in ScottishTerritorial Waters (0-12nm) and in adjacent UK waters (12-200nm) will be about£250,000 per year for the next five years, before wind farm developments are fully completed, and, as stated above we shall be investing much larger sums in that period. Forecasts for growth in these revenues thereafter are more speculative. This will, of course, be included in The Crown Estate's revenue surplus which goes to the Exchequer for the benefit of the nation, as is required by the Civil List Act 1952.