Fence sitting not an option
In reply to Jim Fraser (Every penny will be lost; SN 25/7/12) and Douglas Young (Do we get our money back?; SN 25,7,12):
If SSE decide they no longer wish to be part of the Viking Energy project they can then sell their stake in the company to anyone who is interested in the project, ie. the minority shareholders who are already involved or any other energy company who see the potential.
With the go ahead from the government and the further investment by Viking Energy, the value of the company continues to grow and if sold by the charitable trust it would make a handsome profit – current value £60 million.
Again there is a lot of scaremongering going on, every investment involves risk and Viking Energy is no different. Warnings have already been given about our oil fund and if we continue to delve into it to prop up our services we will have no money left.
We are now well below the £250 millon minimum mark they set out a few years ago; I believe we are now at £190 million.
There is a massive reality check required by all of us in Shetland – we either have to face massive cut backs to services (ferries, schools, roads, leisure, special needs) and huge reductions in employment by the council (who employ 33 per cent of Shetland’s work force) or we have to find income to continue the standard of living we are used to.
Sitting on the fence is not an option.
Craig Johnson
Lochend
Shetland News — free to read
Membership helps pay for journalism
If you value impartial local journalism, become a member of Shetland News and get:
- Only local ads.
- Members' weekly newsletter.
- Bookmark stories and join the comments.
Already a member? Sign in to hide this message.
