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> ... (except North Dakota and Iran) ... And Norway, and Russia, and probably others. The economy in Norway looks pretty bad right now. And Russia is having
by seletz 11y ago
> ... (except North Dakota and Iran) ...
And Norway, and Russia, and probably others.
The economy in Norway looks pretty bad right now. And Russia is having very bad times right now I believe.
At least in Norway it's because the oil price is way to low for them -- I heard that they break-even at $60 or $70 per barrel. That's pretty bad if practically the whole economy is based on oil.
- effie 11y agoNot whole economy is based on oil. It makes 30% of revenue and 50% of exports. https://www.regjeringen.no/no/aktuelt/the-norwegian-experience-in-the-oil-and-/id726975/ https://www.regjeringen.no/no/aktuelt/the-norwegian-experien...
- dforrestwilson1 11y ago50% of exports is pretty bad in a world where you need/want things like iPhones and don't make them yourself. We're all very connected at this point.
- zaroth 11y agoNorway is near the high end with cost of production at $36.10 / barrel. http://money.cnn.com/interactive/economy/the-cost-to-produce-a-barrel-of-oil/ http://money.cnn.com/interactive/economy/the-cost-to-produce...