A New Scottish Economy

Vorlesung/Übung:
Fachsprache Wirtschaftsenglisch
UNIcert® IV/2
Wolfgang Lüer

Moritz Nickel, Hans Müller

Sommersemester 2007
 Agenda
1. Introduction to Scottish economy
2. Natural resources
2.1 Oil
2.2 Wind power
2.3 Wave power
2.4 Tidal power
3. Manufacturing
3.1 High tech industry
4. Services
4.1 Banking
5. Résumé
6. Discussion
7. Literature
2
1. Introduction to Scottish economy

• Heavy industry (until 1980s)

• High tech industry (1980 - 2000)

• Mixed economy (today)

3
2. Natural resources

4
 2.1 Oil (1/2)

• First oil in 1975

• Revenues for Britain
• Jobs for Scotland
• Piper Alpha explosion 150
UK a nnua l oil production (million m3)

• Volatile market
100

50

0
1975 1980 1985 1990 1995 2000 2005
5
2.1 Oil (2/2)

McCrone (1974):
“An independent Scotland’s
budget surpluses as a result of the
oil boom would be so large as to
be embarrassing”.

6
2.2 Wind power in Scotland
Capacity in 2006:
0.94 GW
Potential capacity:
35 GW

7
2.3 Wave power in Scotland
Capacity in 2006:
0.00027 GW
Potential capacity:
14 GW

8
2.4 Tidal power in Scotland
Capacity in 2006:
–
Potential capacity:
7.5 GW

9
3. Manufacturing

10
3.1 High tech industry (1/2)

11
3.1 High tech industry (2/2)

12
4. Services

13
4.1 Financial services

14
 5. Résumé
• Interconnected economy with UK
• Engineering & manufacturing skills
• Rich in natural resources
• Strong growth in renewable energy tech
• Leading in oil industry
• Leading in high tech industry
• Leading in financial services

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6. Discussion
• Where would Scotland’s economy be today
without English partnership?

• Could Scotland's economy have developed

without its rich natural resources?

• Could a Scotland declaring independence today,

survive economically?

16
 7. Literature (1/2)
• Curwen, P. (1990): Understanding the UK Economy. Macmillan.
• Holden, K., Matthews, K., Thompson, J. (1995): The UK economy
today.
• Department of Trade & Industry (2007a): UKCS Oil Production, in:
http://www.og.dti.gov.uk/information/bb_updates/appendices/Appendix9.h
tm, 16.06.2007
• Department of Trade & Industry (2007b): UK Annual Oil Production
(M3), in: http://www.og.dti.gov.uk/pprs/full_production.htm, 16.06.2007
• Lee, C. (1995): Scotland and the United Kingdom – The economy and the
Union in the twentieth century, Manchester, pp. 3-228
• Linklater, M., Denniston, R. (1992): Anatomy of Scotland, Edinburgh,
pp. 230-333
• Marr, A. (1992): The Battle for Scotland, pp. 131-134
• Office for National Statistics (2007): Key Statistics of Scotland, in:
http://www.statistics.gov.uk/, 16.06.2007

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 7. Literature (2/2)
• Russell, B., Kelbie, P. (2005): How black gold was hijacked: North Sea
oil and the betrayel of Scotland, in: http://news.independent.
co.uk/uk/this_britain/article331945.ece, 16.06.2007
• Scottish Enterprise (2007): Oil and gas Key facts in:
http://www.scottish-enterprise.com/sedotcom_home/sig/sig-
energy/energy-oilandgas/energy-oilandgas-keyfacts.htm, 16.06.2007
• Scottish Financial Enterprise (2007): Overview of the Scottish
Financial Industry, in: http://www.sfe.org.uk/info/overview_
scottish_financial_industry, 16.06.2007
• Siliconglen.com Ltd (2007): About Silicon Glen, in:
http://www.siliconglen.com/, 16.06.2007
• Wavegen (2007): Islay Limpet Wave Power Plant, in:
http://www.wavegen.co.uk/pdf/LIMPET%20publishable%20report.pdf,
17.06.2007
• Wikipedia (2007): Economy of Scotland, in:
http://en.wikipedia.org/wiki/Economy_of_Scotland, 16.06.2007
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