Comments on: Norway’s Example of Oil and Gas Boom Done Right

By: Brendan Ward

Brendan Ward — Mon, 11 Jun 2012 14:40:00 +0000

Hey Jude (sorry I couldn’t resist it), Just to say that if we are looking at the same photo of the harbour, don’t be mis-led. It’s not early Stavanger, it still looks like that now – and I guess that’s part of the story. There has been no rush to knock everything down and put up modern office blocks.

By: JudeBC

JudeBC — Sat, 09 Jun 2012 23:51:00 +0000

In 1971, I visited Stavanger, the hometown of my Norwegian friend from Mc Gill University on our graduation. I fell in love with Norway and the Norwegian people…very warm, kind and hospitable. Your photo of early Stavanger brought back so many memories for me and I can’t imagine that it is now the most expensive city in the world!
I wonder why we in Canada have not benefited individually and collectively from our oil wealth, to the same extent. We are faced with cutbacks in crucial services like heath care, pensions, wages, unemployment insurance benefits, elimination of vital coastguard services …all required to pay off the deficit.
I think Norway must have maintained all rights to its assets while the oil provinces Alberta, Saskatchewan, and recently Nova Scotia and New Foundland may have sold its assets to foreign oil companies or negotiated agreements which failed to consider the long term needs of the entire country as opposed to those living in its province.

By: vejleanny

vejleanny — Thu, 07 Jun 2012 15:59:00 +0000

The attitude of “enough” is not unique to Norway. It is also found in Denmark – without the oil wealth to back it up - but simply because the Danes know that paying adequate taxes will provide education and a good living for everyone today and in the future.

By: David Czuba

David Czuba — Thu, 07 Jun 2012 03:43:00 +0000

Paul Ekins wrote in “The Gaia Atlas of Green Economics” (1992) about Norway’s fund, but this article makes mention of why Norway did it: because of values. Organizational theorist Geert Hofstede studied cultural values in the 1970s and found major differences between cultures in several dimensions. Two of those dimensions Norway scores high on: Individualism versus Collectivism, and Uncertainty Avoidance. These basically mean that Norwegians stick together, and they don’t like risk. Living in Bellingham, Washington State, with a large Norwegian heritage, it’s easy to see that. We, too, had a thriving cannery industry built mostly on Pacific salmon. So, Norway’s values make it one of the most sustainable countries in the world.

By: Lawashington

Lawashington — Thu, 07 Jun 2012 02:50:00 +0000

Wonderful example! In US, when the budget was balanced with some extra money in the coffer, Instead of saving for raining days, a tax cut was proposed and welcomed. Now, same people want to cut budget because they do not want to leave the debt to our grandchildren. Why didn’t they think of their grandchildren when they enthusiastically receive the tax cut? Expire the Bush tax cut! The high incomers can afford that.