The
Scottish government has lowered its estimates for how much revenue will be
generated from North Sea oil and gas.
When it
last projected oil and gas revenues, in May last year, it estimated up to
£7.8bn in tax could flow from the North Sea in 2016/17.
Its oil
and gas bulletin has now predicted the figure will be, at best, £2.8bn and
could be as low as £0.5bn.
You can see how powerful slight changes in oil prices can affect an economy.
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