Will companies be willing to do business in oil-rich Scotland if it votes for independence?
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Chevron CEO John Watson says the California-based company stays out of local politics when operating overseas – but future investments in Scotland will depend on the fiscal environment.
“[W]e’re producing oil and gas today and we’ll be producing oil and gas tomorrow in Scotland,” explained Watson in an interview with FBN’s Maria Bartiromo Thursday.
“As far as future investments go, whether it’s the U.K. or an independent Scotland, that will be dependent on the fiscal terms and the environment we see that’s conducive to investment going forward. But certainly, we’ll continue to operate regardless of the outcome of this vote,” added Watson.
Regardless of the vote outcome, Watson said it’s important for the government to take a good look at the fiscal climate in Scotland.
“I think whomever is empowered needs to take a look at the fiscal terms they have in place and the environment … so they can compete with the opportunities around the world,” he said.