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It's impressive the way Norway has manage to avoid the Resource Curse (https://en.wikipedia.org/wiki/Resource_curse https://en.wikipedia.org/wiki/Resource_curse
by freen 9y ago
It's impressive the way Norway has manage to avoid the Resource Curse (https://en.wikipedia.org/wiki/Resource_curse https://en.wikipedia.org/wiki/Resource_curse ) unlike Saudi Arabia, Venezuela, etc.
Great article on slate about it: http://www.slate.com/articles/business/moneybox/2004/10/avoiding_the_oil_curse.html http://www.slate.com/articles/business/moneybox/2004/10/avoi...
While the economics of it are sound, i.e. diversification, etc. it still is a major asset movement by an investor who would otherwise be strongly bullish on the commodity. Any way you slice it, this is a big deal.
- stevenwoo 9y agoSome think the curent corruption crackdown in Saudi Arabia is merely an excuse to seize the assets of eveyrone opposed to the official diversification plan. https://www.theguardian.com/world/2017/nov/10/how-the-saudi-arabia-anti-corruption-crackdown-will-play-out https://www.theguardian.com/world/2017/nov/10/how-the-saudi-...
- MandieD 9y agoMost petrostates provide at or below market-rate fuel to their citizens. Norway has some of the most expensive gasoline in the world, due to really high fuel taxes. They also seem to have been preparing for life after oil from early on, as opposed to other petrostates only beginning to consider it when it becomes obvious that they have to change.