Don’t Hold Your Breath Waiting for Return to $100 Oil

by Nadeem Walavat

Appeared originally at The Market Oracle 01 September 2015

The crude oil price has relentlessly trended lower all year to an unimaginably low price low of $37 of just a few days ago, falling from $100 a year ago.

The severe bear market has not only caught many market commentators off guard but has had a devastating impact on several major economies that are heavily reliant on high oil prices such as Russia, the gulf states, and other emerging markets reliant on their energy sector tax revenues to finance state spending and of course Britain’s very own Scotland that a year ago was toying with idea of committing social and economic suicide (independence referendum).

The following video aptly illustrates what would have happened, not only in Scotland but in the whole of the UK, during the past 12 months if the SNP separatist fanatics had succeeded in convincing the Scottish electorate into voting for Scottish independence that would have unleashed forces that literally would have torn the UK apart, something that the SNP fanatics continue to remain ignorant about today.  This ignorance persists despite the fact that the oil price collapse of 2015 alone would have collapsed the Scottish economy, fuelling the process for the disintegration of first Scotland itself and then the rest of the UK.

UK During the Year After Scotland Votes YES to Independence:

A year ago the SNP fanatics were busy galvanising the gullible masses with a stream of heart tugging propaganda into convincing the Scots to effectively vote to commit suicide by leaving the UK.  I liberally warned of the consequences in dozens of articles and several videos at the time describing the catastrophe that lay in store for Scotland which would be the polar opposite of the SNP’s propaganda, the reality of which would literally include the breakup of first an Independant Scotland and the remaining UK as excerpted below:

Sep 07, 2014 – Scottish Independence YES Vote Panic – Scotland Committing Suicide and Terminating the UK?

Opening Pandora’s Box of Disintegration, the Balkanisation of Britain

The peoples of the United Kingdom are literally being sleep walked towards the edge of the cliff, most completely unaware of the potentially disastrous ramifications for not just Scotland but for what lies in store for the remainder of the United Kingdom following a Scottish Independence YES vote that would break start the process for ripping apart a 300 hundred year old entity of an United Island of Great Britain, which as I have repeatedly warned of during 2014 that a YES vote would literally sow the seeds for the balkanisation of Britain as this Island would literally tear it itself apart as the status quo of what had been taken for granted would no longer exist.

A whole host of news during the past year illustrate that the approaching Scottish Independence vote has already galvanised agitants right across the UK, for instance blowing on the embers for Cornish independence as they wave their aptly coloured Cornish black funeralesk flag that continues with calls of autonomy literally right at the other end of Britain from the Northern and Western Isles with calls for their own devolution from Edinburgh and even calls for their own parliament that sows the seeds not only for the balkanisation of Britain but also for breakup of an newly Independent Scotland that following a YES vote would soon start to disintegrate, as for instance the bordering regions would reassert their separate identity that has far more in common with the North England than much of Scotland, formerly known as the Kingdom of Northumbria that stretches from Edinburgh in the north all the way to the city of Sheffield in the south.

Whilst Alex Salmond, Scotland’s Nigel Farage repeatedly plays the Scotland is rich because of North Sea oil card, what he convientely omits is that a significant portion of Scotland’s oil reserves lie in the waters of the Northern Isles (Orkney and Shetland). Many people of the Northern Isles see themselves as having far more in common with Norway than Scotland which given the near immediate currency, financial and economic crisis that would follow independence would be fast pulled towards sharing sovereignty for far greater stability with the likes of Norway that could achieve what it could never have done militarily, namely expanding its borders and gaining many western north sea oil fields. Though in all probability the Northern Isles would probably eventually settle as becoming a protectorate of the United Kingdom along the lines of the Isle of Man.

So if Alex Salmond ‘King of the Scots’ does succeed in his tunnel vision mission for an Independant Scotland then he will likely go down in history as the first and last Prime Minister of Scotland as we know it today, which effectively means a Yes vote on 18th September will be Scotland voting to commit suicide as when the dust settles what remains would be a mere fraction of its current size.