ocr: The UK has the largest energy resources of any EU state. The country's energy position is bolstered by substantial oil and gas reserves oftshore on the Continental Shelfin the North Sea. Drilled under ditticult conditions, the oilis of a high grade. Revenues from taxes on oil companies have been a major contributor to goverment finances, averaging around $12 billion a year. The oilis expectedto last at least until2 2010. Coal reserves are also sizeable, and at current rates could meet Britain's energy needs well into 2400. However, the privatization oft the electricity industry resultedin the ...
