3 ms·

So oil, like the Middle East.

eesmith 3y ago
Except not like the Middle East, with the influence of Farouk al-Kasim, and, more broadly, socialism. "The Iraqi who saved Norway from oil". Paywall at https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feabdc0 https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feab... . HN discussions at https://hn.algolia.com/?q=The+Iraqi+who+saved+Norway+from+oil https://hn.algolia.com/?q=The+Iraqi+who+saved+Norway+from+oi... . In short, an Iraqi man married a Norwegian women. Their kid had cerebral palsy. They decided their son could get the best care in Norway, so moved to that country. The man has both academic training and industrial experience with the oil industry, at a time when the Norway’s oil administration had only three officials. When al-Kasim went to the Ministry of Industry looking for a job in the oil industry, they jumped at the opportunity to tap his expertise. He helped write the plan which puts the socialist state in control of managing the oil wealth, balanced between reply on private foreign companies and a "bloated, politicised oil sector" of only government control, quoting an excerpt from https://www.isegoria.net/2009/09/the-iraqi-who-saved-norway-from-oil/ https://www.isegoria.net/2009/09/the-iraqi-who-saved-norway-... . Statoil is a Norwegian state-owned private Norwegian oil company, giving the Norwegian government deep access to the costs and profits in oil extraction. I remember an account from the original FT story. The Norwegians told the oil companies the country would charge a super-profit tax of 40% on top of the 50% corporate rate. The companies said something like "what? That's too high!". The Norwegians replied "Since none of you walked out, I think it was too low."
- netsharc 3y ago
  > When al-Kasim went to the Ministry of Industry looking for a job in the oil industry He also did this in the most "by the way" way, he landed in Oslo had a few hours to kill waiting for his train connection, so he went to their office...

Except not like the Middle East, with the influence of Farouk al-Kasim, and, more broadly, socialism. "The Iraqi who saved Norway from oil". Paywall at https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feabdc0 https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feab... . HN discussions at https://hn.algolia.com/?q=The+Iraqi+who+saved+Norway+from+oil https://hn.algolia.com/?q=The+Iraqi+who+saved+Norway+from+oi... . In short, an Iraqi man married a Norwegian women. Their kid had cerebral palsy. They decided their son could get the best care in Norway, so moved to that country. The man has both academic training and industrial experience with the oil industry, at a time when the Norway’s oil administration had only three officials. When al-Kasim went to the Ministry of Industry looking for a job in the oil industry, they jumped at the opportunity to tap his expertise. He helped write the plan which puts the socialist state in control of managing the oil wealth, balanced between reply on private foreign companies and a "bloated, politicised oil sector" of only government control, quoting an excerpt from https://www.isegoria.net/2009/09/the-iraqi-who-saved-norway-from-oil/ https://www.isegoria.net/2009/09/the-iraqi-who-saved-norway-... . Statoil is a Norwegian state-owned private Norwegian oil company, giving the Norwegian government deep access to the costs and profits in oil extraction. I remember an account from the original FT story. The Norwegians told the oil companies the country would charge a super-profit tax of 40% on top of the 50% corporate rate. The companies said something like "what? That's too high!". The Norwegians replied "Since none of you walked out, I think it was too low."

netsharc 3y ago
> When al-Kasim went to the Ministry of Industry looking for a job in the oil industry He also did this in the most "by the way" way, he landed in Oslo had a few hours to kill waiting for his train connection, so he went to their office...