Can North Sea Oil fix the current oil crisis? Trump says incoming UK PM Andy Burnham is "opening up, all the way" the North Sea oil. But per the BBC, Burnham is actually expected to stick to Labour's manifesto pledge of no new drilling licences, just a "shift in emphasis" and closer work with the industry. The UK North Sea has an estimated 2.5 to 7.5 billion barrels remaining, depending on the source. That's nowhere near Middle East reserves: Saudi Arabia has about 267 billion barrels, the UAE about 113 billion (source: Worldometers). And even under a drilling-friendly policy, new rigs take years to come online, not overnight.(Lark Davis)