The Importance of North Sea Oil in Britain's Recession

North Sea oil allowed for the UK to do a number of things one undercut OPEC's control over the oil supply two privatize the commanding heights of the British economy and three crush the powerful British miners Union. Margaret Thatcher was in a way lucky enough to be the first prime minister in the UK who would be able to have a positive oil balance. Some of the power stations that used to run only on coal were reconverted to be used only also on oil.