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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: regli who wrote (34071)	7/23/2005 1:57:07 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

what do you make of this post on the fool on UK oil In April 2004 UK production was 1,964,905 bpd. By April 2005 this had slumped to 1,749,773 bpd. That bears out the prediction that UK oil will only last another eight years before it is finished. This will have really serious repercussions for the UK which has poured the oil revenue into keeping the social service sector above water. The implications are either higher taxes to support the social services or a reduction in services offered. Their manufacturing base is declining rapidly and the UK is now essentially a service economy which looks good at the moment but can only go downhill from here on in.