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misscamEver wondered how rich Norway is?
The Saudi Arabia of the north is struggling to work out what to do with the $1billion it earns each week. Should new reserves be left untapped or its citizens made even richer?
It's an interesting article on Norway's oil wealth. Worth a read, if you're curious. Got a nice bit on our welfarestate and of course, moaning about our prices.
With oil at more than $70 a barrel, Norway is earning $1 billion a week. At this rate the government’s pension fund, the world’s second-biggest investment pool, will be worth $410 billion by the end of the decade.
And we're four and half million people. That makes for a lot of money per person. I was going to do the maths, but it is hot and there were a lot of zeros.
If this is tricky to manage, Stoltenberg has an even bigger question: how much richer should he let his country become? Recent new oil and gas discoveries in the Arctic, suggesting Norway has only just started to tap its hidden wealth, have provoked an unusually fierce debate among Norwegians. The environmentalists don’t want the oil touched. The right-wing opposition wants it pumped. (...) Geologists say Norway has dipped into only a third of its potential liquid gold and a tenth of its gas deposits.
I must admit, I didn't know our oil reserves were speculated to be that much. What the hell are we going to do with all that money? We're quite wealthy without oil, with it we're so rich we can't actually use it all, as it would cause inflation. Cripes. And to think, a hundred years ago, we were pretty much the poorest country of Europe. How times do change.
Probably wise to keep in mind for the future, that.
Meanwhile, rare whale gets spotted at Svalbard
Monster jellyfish is about
Ack!
Also, hello new people on my flist. Say hey, why don't you?
The Saudi Arabia of the north is struggling to work out what to do with the $1billion it earns each week. Should new reserves be left untapped or its citizens made even richer?
It's an interesting article on Norway's oil wealth. Worth a read, if you're curious. Got a nice bit on our welfarestate and of course, moaning about our prices.
With oil at more than $70 a barrel, Norway is earning $1 billion a week. At this rate the government’s pension fund, the world’s second-biggest investment pool, will be worth $410 billion by the end of the decade.
And we're four and half million people. That makes for a lot of money per person. I was going to do the maths, but it is hot and there were a lot of zeros.
If this is tricky to manage, Stoltenberg has an even bigger question: how much richer should he let his country become? Recent new oil and gas discoveries in the Arctic, suggesting Norway has only just started to tap its hidden wealth, have provoked an unusually fierce debate among Norwegians. The environmentalists don’t want the oil touched. The right-wing opposition wants it pumped. (...) Geologists say Norway has dipped into only a third of its potential liquid gold and a tenth of its gas deposits.
I must admit, I didn't know our oil reserves were speculated to be that much. What the hell are we going to do with all that money? We're quite wealthy without oil, with it we're so rich we can't actually use it all, as it would cause inflation. Cripes. And to think, a hundred years ago, we were pretty much the poorest country of Europe. How times do change.
Probably wise to keep in mind for the future, that.
Meanwhile, rare whale gets spotted at Svalbard
Monster jellyfish is about
Ack!
Also, hello new people on my flist. Say hey, why don't you?
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