More Scottish Oil chat here.
Last line is particularly apt. I live in Japan at the moment, a country that has apparently been in decline for twenty years, nonetheless you would have to say Japan seems to have plenty of potential wriggle room, it could for instance solve its demographic problems by simply allowing mass immigration: highly unlikely, I grant you, but it could. Same goes for numerous other reforms that are politically/culturally contentious (opening to trade, restructuring companies etc) but possible and gains from "innovation" in fuel sources/raw materials etc.
But England? When the oil runs out and finance fucks off to Singapore, what have we got?