Scottish Gas Boom
The oil and gas industry in Scotland is to benefit, along with the rest of the UK in receiving huge tax breaks. The tax break plan has been drawing up so it will attract new investment in the oil and gas industry around the UK. Scotland will see a lot of benefit from this as it still has undeveloped areas around the Western Isles.
The news could trigger a massive rush of investment totaling 14 billion pounds, spread out over the next ten years. Scotland still has remote gas fields in the west of Shetland and the likes of these sites will see most of the investment.
Good old Scottish gas will keep the country going for a while yet, but these sites have never got the investment they need due to tax reasons. It was the Chancellor (Alastair Darling) himself who announced the tax break, that will see a £1 billion tax boost that will hopefully put the wheels in motion for investment and production of more Scottish gas.
Another plus side to the plans on producing more Scottish gas, is the news that it will create up to 600 jobs, and further more spin off jobs, throughout Scotland. The oil and gas services business around the UK will see the biggest impact.