2007-10-15 21:54:33 · 3 answers · asked by sunshine_mel 7 in Politics & Government ➔ Other - Politics & Government
Both Norway and UK economies have profited from oil pumped from the North Sea reserves by taxing the producers. However, the oil is owned by whomever finds it and brings it to port unless it is in the territorial limits of a nation (some is and some isn't). Mostly British companies have made huge profits and the UK has been import independent because of this. Norway has become a rich country. But the easy to recover reserves are almost gone and soon the gravy train will end. Even though about 30% of the estimated original reserves remain extraction in 2007 is less than 50% of recent years amd going down steadily. This is because the product which remains is riskier to extract due to its location and depth of drilling.
2007-10-15 22:20:39 · answer #1 · answered by Nightstalker1967 4 · 3⤊ 1⤋
The monarchy ..... of King Neptune!!!
2007-10-16 05:01:23 · answer #2 · answered by Anonymous · 0⤊ 1⤋
me.
Need some oil or something?
I'll hook ya up cheap.
2007-10-16 05:02:18 · answer #3 · answered by des0ne 3 · 0⤊ 1⤋