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Norway also produces nearly 10x as much oil per capita as the US. Everybody seems to forget that when pointing out how nice the place is.
by rootusrootus 7y ago
Norway also produces nearly 10x as much oil per capita as the US. Everybody seems to forget that when pointing out how nice the place is.
- HarryHirsch 7y agoThat would be a feature, usually countries relying on primary production have large wealth disparities.
- alkonaut 7y agoIs that an environment argument? Or an argumenbt that the money somehow doesn't count or helps ensure a good living standard? That oil money does help living standards. Especially since a big state ownership plus big Nordic welfare state ensures it ends up helping pretty much everyone.
- rootusrootus 7y agoEnvironmental, for sure. They may not be burning all that oil themselves, but it would not get burned at all if they did not pull it out of the ground.
- kalleboo 7y agoUsually producing a lot of oil is correlated with poor economic outcomes, not good ones https://en.wikipedia.org/wiki/Resource_curse https://en.wikipedia.org/wiki/Resource_curse
- MandieD 7y agoUnlike most other petrostates, Norway has had the sense not to get high on their own supply - higher fuel taxes than their neighbors, stashing the oil revenues in a permanent fund, and taxing the heck out of their high salaries to pay for government spending. When the oil runs out, they’ll still have their (currently) 1 Trillion dollar permanent fund to cushion the blow.