Scottish ministers could lose out on billions of pounds if North Sea oil and gas revenues were devolved, MPs heard.
The calculation was based on the current price of oil, which has hit a low of $82 a barrel in recent days.
Scottish Secretary Alistair Carmichael told MPs new Treasury figures suggested current prices blew a £8.7bn "black hole" in the Scottish Government's independence sums over the next three years.
The SNP, which has called for North Sea revenues to be devolved, disputed the figures.
A spokesman for Scottish Finance Secretary John Swinney accused Mr Carmichael of "bizarre comments ... gloating about a fall in his own Government's revenues.
"The fact is, oil is a fantastic asset for Scotland and will be for decades to come - what is needed is the stable fiscal set-up the sector is calling for."
w Oil & Gas UK have called for urgent UK Government help amid escalating industry costs and the falling oil price. In a letter to George Osborne the industry body's chief executive Malcolm Webb said: "Without swift action, capital investment is set to halve by 2017. Urgent tax reform is now needed for the North Sea to remain globally competitive and attractive for investors."
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