Comment by wozniacki | Hacker News Reader

Comment by wozniacki | Hacker News Reader

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  3. Found oil in the Northern Sea.

Interesting. No one mentions this aspect much although its known that UK has oil assets.

Could you elaborate on this or add a link to an article that explores this under-mentioned reason as one of the contributing factors for the UK's decision to pull out of the EU?

Were the oil revenues very significant in the previous decades? Have they tapered off due to the U.S. shale boom?[1] Did the UK see this development coming? [2]

[1] Shale gas in the United States

https://en.wikipedia.org/wiki/Shale_gas_in_the_United_States

[2] How The Shale Boom Turned The World Upside Down

https://www.forbes.com/sites/rrapier/2017/04/21/how-the-shal...

"Could you elaborate on this or add a link to an article that explores this under-mentioned reason as one of the contributing factors for the UK's decision to pull out of the EU?"

I did not make this statement. But

1. I once saw a graph that showed that the re-rise of the UK strongly correlated with oil production. The correlation does not imply causation but it was quite stunning. I looked several times for the article but did not find it again. But it made me always doubt that it was only Thatchers reforms the reinvented the UK.

2. I did not say that the UK is pulling out of the EU because of sinking oil revenues. But please consider the article that I already posted: https://hbr.org/2019/08/did-austerity-in-the-uk-lead-to-the-...

UK Oil production: https://en.wikipedia.org/wiki/Oil_and_gas_industry_in_the_Un...

So there may be a connection (less social services, less income from oil, frustrated people). London voted to stay, it was poor areas that voted "leave".

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