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Denmark does not have significant oil reserves; you may be thinking of Norway. The Danish economy is based on some weird mixture of: shipping (Maersk), entertai
by _delirium 14y ago
Denmark does not have significant oil reserves; you may be thinking of Norway. The Danish economy is based on some weird mixture of: shipping (Maersk), entertainment (Lego), brewing (Carlsberg), and banking (Danske Bank et al.). There is a goal of making wind turbines a major industrial sector as well.
- btilly 14y agoMy bad, I was thinking Norway. Though it is worth noting that Denmark is one of Europe's top oil producers, and is a net exporter. So Denmark does have economically significant reserves.
- _delirium 14y agoIt's a net exporter, but a fairly small one. From what I can find, oil-related royalties contribute about 3% of the state budget. I can believe that still results in a fairly high ranking, but it's not exactly funding the country with that. The Texas state government gets more like 5% from oil, and hasn't succeeded in setting up a social-democratic system...
- kyllo 14y agoMaersk's container shipping division is mostly a money-loser. They're lucky to break even on it. Maersk is a major player in the oil and gas industry, and that's where the majority of their profits come from.