The Guardian: UK oil and gas forecasts 'incredibly pessimistic', says Scotland

Forecasts of future revenues from North Sea oil and gas by an economics watchdog have been described as "incredibly pessimistic" and could be six times lower than the actual levels, according to a report.

The Scottish and UK governments have repeatedly clashed over the future of the industry, particularly around forecasts from the UK Office for Budget Responsibility on the amount of cash it expects to be raised from the North Sea.

The Scottish government argues the OBR forecasts are based on a "very low estimate of future total production", while its own figures have been criticised by opponents who claim they are overly optimistic.

In July, the OBR chairman, Robert Chote, revealed the body was now forecasting that revenues of £61.6bn would be raised between 2013-14 and 2040-41, down from £82.2bn.
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