Nine out of ten offshore firms optimistic about long-term future

However, the study, by Aberdeen and Grampian Chamber of Commerce, warns that a further period of economic uncertainty is “guaranteed” due to the ongoing Brexit process.
 
The UK Treasury has siphoned off billions in oil and gas revenues over the past 50 years – amounting to around £600,000 per head of population in the North East of Scotland, with precious little of that reinvested by successive Westminster governments.
 
Proposals passed at the SNP recent spring conference recommended that future income generated should be treated as a windfall and invested in a fund for future generations.
 
SNP MSP Maureen Watt said: “This is yet more good news for the North East, confirming the huge potential of the sector for many years to come.
 
“Going forward, it’s vital that companies use world class engineering expertise to advance the energy technologies of the future – particularly renewables and low carbon industries, as we seek to tackle the climate emergency while ensuring our natural resources continue to bring economic benefit, in the most sustainable way possible.

“That’s the best way to futureproof the North East, to make sure it remains a great place to live, study, work and do business.
 
“Over the past decades successive UK governments have sold Scotland’s oil industry short, squandering billions in North Sea revenues, and reinvesting precious little back into our economy.
 
“It’s high time that we took control of energy powers here in Scotland – allowing us to reap the benefits, to grow our economy, realise our potential, and invest in a bright future for the next generation.”