Sir Donald MacKay challenges Sir Ian Wood's remarks on oil and gas
(22 Aug 2014)
One of Scotland's most respected economists has responded to comments made by Sir Ian Wood after the retired tycoon criticised the Scottish Government's estimate over the amount of North Sea oil still to be extracted from Scottish waters.
Sir Donald MacKay has publicly backed Scottish Government estimates on the economy and North Sea oil and said forecasts criticised by Sir Ian were backed by the oil and gas industry.
On Wednesday oil tycoon Sir Ian Wood intervened in the independence referendum and said figures used by the Scottish Government in its estimates of future North Sea reserves were too high. Sir Ian also accused others of having distorted conclusions contained in a report he himself had published in February.
However responding today, Sir Donald MacKay challenged the accusation that forecast figures had been distorted.
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