40 Years ago, oil was discovered in the North Sea. The fields lay predominantly in the Scottish and Norwegian Territorial waters.
In 1974, Professor Gavin McCrone was commissioned by the Government of the day (Conservatives under Ted Heath) to deliver an urgent report, focused on the likely effects of North Sea oil revenue on the economic viability of an independent Scotland.
This came at a time when Scottish nationalism was begining to grow in popularity, largely due to the efforts of the SNP. The SNP knew the oil would be a huge asset for an independent Scotland and many Scots also shared this view.
Mandy Rhodes interviews Denis Healey.
The interview appeared in Holyrood Magazine on the 19th May 2013. The final part of the interview is presented here, an extremely interesting section concerning his recollections (and truthful opinions) of the previous referendum of 1979, the McCrone report, oil and the recent referendum of 18th September 2014.
If only the 'Better Together' camp had adopted the same attitude...