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Usually 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/wi
by kalleboo 7y ago
Usually 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.