单词 | North Sea Oil |
释义 | North Sea Oil The rise of oil production in the North Sea. A combination of advances in oil technology and the rise in oil prices in the 1970s led to a dramatic rise in UK-based oil production. Output rose from approximately nil in 1973 to a level equal to 9 per cent of productive sector output by 1979. This dramatically improved the UK's balance of payments: in 1974 net imports of fuel were equal to 31/2 per cent of GDP, while in 1983 net exports of fuel were equal to 4 per cent of GDP. |
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