Hugh Fraser, an Aberdeen-born oil and gas industry executive and managing partner of Andrews Kurth, based in Dubai, has joined the ranks of the 1200+ strong Business for Scotland group. In a public statement, which you can read at the following link, he says:

"I have chosen to join the pro-independence group Business for Scotland because I am convinced of the economic case. I have spoken out today because people may like to know how much support there is in business for a Yes vote. Put simply, I believe the referendum is the opportunity of our time."

Mr. Fraser notes that George Osborne's 2010 tax increases on North Sea oil companies, which have since been reversed, have nonetheless stifled investment and job creation, and broken down bridges between the industry and Westminster. He believes that an independent Scotland would be easier to do business with, and that Westminster has squandered Scotland's wealth in comparison with other oil-rich nations such as Norway and the United Arab Emirates. With over half of the oil in the North Sea yet to come, there is still time to correct the mistakes of the past.

"The oil is going to run out one day, many decades from now. But that is a reason FOR not against independence. Scots must not allow the remaining reserves of this natural and finite resource to be squandered. Scotland can afford to and must surely put some of the dividends away for its children whilst investing the rest in building Scotland’s many other areas of economic strength."

Mr. Fraser also points out that the UK government is putting pressure on business leaders to issue public statements against Scottish independence, which he regards as unacceptable. This practice is perhaps evidenced by BP chief executive Bob Dudley, who recently aired personal doubts about independence on the BBC despite an admission that the debate has not affected their investment in the North Sea. BP as a company has taken no official position on the matter