[davep]

$this->bbcode_second_pass_quote('', 'T')he end of the Petropound

Since it's peak in 1999, an important additional pressure on the Pound has come from the decline in North Sea oil production. Its decline has been forecast for some years (C.J.Campbell, "Peak Oil"). Despite the discovery of new oil fields and the application of new extraction technology, North Sea oil production has been steadily declining from its peak in 1999 and is forecast to decline considerably more at a rate of between 7% and 13% per year, depending on assumptions about new discoveries)(Euan Mearns, Oil Drum Europe).

[IslandCrow]

Thanks I found that report [s]interesting[/s] useful. I need to convert some Euros to Pounds, but it looks as if I should wait a bit longer before doing that.

[Tyler_JC]

With a balance of payments like that, it was only a matter of time before the pound declined in value.

[Nickel]

Hate to burst your bubble, but have you seen what the pound is worth currently? About €1.26, pretty much exactly where it was last May when the article was written. By their estimation, it should be down to €1.15 about now. Did it never occur to you to check that before posting the link?

Might have been interesting otherwise but the numbers this year don't support the trend.

[davep]

$this->bbcode_second_pass_quote('Nickel', 'H')ate to burst your bubble, but have you seen what the pound is worth currently? About €1.26, pretty much exactly where it was last May when the article was written. By their estimation, it should be down to €1.15 about now. Did it never occur to you to check that before posting the link?

Might have been interesting otherwise but the numbers this year don't support the trend.

[CarlosFerreira]

Having moved to the UK last week for a year's study, can't say it wouldn't help me. Do you think that, if that happens, the UK will jump into the Euro to hedge against inflation and seek stability? Or will the upcoming Torie government just try to inflate it somehow?

[Nickel]

$this->bbcode_second_pass_quote('davep', 'S')orry to have wasted your precious f*cking time.

[Nickel]

$this->bbcode_second_pass_quote('CarlosFerreira', 'H')aving moved to the UK last week for a year's study, can't say it wouldn't help me. Do you think that, if that happens, the UK will jump into the Euro to hedge against inflation and seek stability? Or will the upcoming Torie government just try to inflate it somehow?

[davep]

$this->bbcode_second_pass_quote('Nickel', '')$this->bbcode_second_pass_quote('davep', 'S')orry to have wasted your precious f*cking time.