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by kranke155 1068 days ago
Is Scotland benefitting from it somehow?

Truly astonishing that nothing like the Norway model was done. Those oil reserves could’ve transformed the country, surely?

2 comments

Well parts of Scotland are. As arethuza said, in the North East of Scotland saw some local benefit. A few people became very wealthy, and many people hopped up one or two social classes through the jobs that were created (and bought nice cars + homes, sent their kids to nice schools). But it wasn't anywhere near the sort of multi-generational wealth that Norway built up.

Shetland managed to do a little bit better and built up a pretty sizeable fund (something like GBP20k/resident), but I'm not super familiar and don't know what they do with it.

The North East of Scotland around Aberdeen certainly did benefit from the oil and gas industries. However, I doubt if this made up for the collapse in heavy industries elsewhere in Scotland.