chrismpw
Player Valuation: £70m
I just posted that I realise what I said could be taken that way but I didn't mean it. Thatcher and Regan were nit far sighted. THAT government is responsible for selling off an enormous amount of what should have become the nations wealth. As a geology student at the time I was in the thick of the disbelief of the utter stupidity of how they were handling it. I've hated Thatcher for this (and what she did to the miners) ever since.Is that the farsighted government that privatised our oil, as opposed to Norway, who invested the profits into a sovereign fund (the biggest in the world) now worth 1,375 billion dollars - that one ?
How Norway got rich from Oil, but the UK didn't - Economics Help
https://www.youtube.com/watch?v=24e9F30tK1Q Norway and UK are neighbours, separated only by the North Sea, with its rich mine of oil and gas reserves, but whilst Norway has used its good fortune to become the richest country in the world. The UK’s oil bonanza was largely squandered, at the very...www.economicshelp.org
What's worse ... having sols off the reserves to big business, what many don't know about the industry other than geologists, is that in their absolute drive to get rich quick, the oil companies forced sea water into the Wells to push oil out quicker. While this might be a useful strategy if used with care, it was instead used with greed. The result us that an estimated ⅓ of all that oil has been forced into surrounding country rock to he lost forever. It will eventually seep out and ve dispetsed from the seabed and into the environment hundreds of thousands of years later, impossible to collect. The oil execs and their shareholders cashed in over 10-20 years instead of allowing the wealth to be spread over generations.
An example of unregulated capitalism at its worst. An example of greedy corporations at their worst. An example of how a tyrannical bully of a prime minister rode the wave of chance wealth (and later the falklands war) to cover financial mis-managememt and ineptitude. An example if how investigative journalists and the media utterly failed to educate a trusting nation as to the ramifications of voting in such a stinking rotten turd of a prime minister ever again.
You might sense that the subject of Britain's misuse and squandering of her uniquely rich fossil reserves is one close to my heart and makes me seethe. Don't get me started on coal!!!
