Norwegian banks have already ran liquidity tests at a price of $35 a barrel for a year and still sitting alright. Everyone will have to dip into something for this.
Instead of point scoring the politicians should be making sure it's reflected at the pump the price drop, it's all they're good for these days.
The reason I ask, is that I read some stuff a few years ago about the Norwegian oil fund. They have very strict rules as to how the fund is used. I think that thy are only allowed to spend 4% of the interest inside Norway in any year or something like that. In order to "dip into" it further would need a vote in parliament, I think. As you say I don't think they are near the stage where they need to do that yet. Lower revenues from lower oil prices will mean that less new money will go into the oil fund but that's not the same as dipping into it.
Its really strange its like some of them really would like to see Scotland hammered to ensure we don't get ideas above our station again.
The reality is if we had been a normal country we would have just had to deal with this. Norway has had to dip into its oil fund a bit more and no doubt other countries big and small will deal with it in their own way until the price goes back up. Scotland would of course have been unique and we would be needing food banks on the streets of Milltimber and UN helicopters dropping Red Cross food and clothing to the masses.
The UK is currently losing money with the oil price how are they coping ???
The oil is a bonus and if, as some clever people have said,Scotland had set up an oil fund and put money away for a rainy day the drop could have been cushioned until the price went back up.