|Quoting 767Lover (Reply 39):|
Quoting StasisLAX (Reply 32):
Quoting 767Lover (Reply 7):
Hmmmm. Norway has been drilling oil off its shores for about 3 decades. Something to think about.
Oh no, a reprise of the "drill baby drill" slogan from the Republican presidential campaign! duck
"The economic growth of the country (Norway) was just below the OECD average until
the 1970s when Norway discovered vast amount of petroleum resources in the
North Sea. Undoubtedly, the oil-propelled economy has carried the country to
one of the richest in the world today."
Later in the document it is mentioned that petroleum profits are a large contributory to social and health program funding.
--from Health Systems In Transition: Norway
© World Health Organization 2006, on behalf of the European Observatory on Health Systems and Policies
But you forgot to add the following.
Oil reserves for Noway peaked at 12 billion barrels in 1997 and have since fallen to 8.2 billion barrels in 2007.
Production for Norway peaked at 3.3 million bpd in 2000 and fell to 2.55 million bpd in 2007. Reserves to production ratio for Norway is 8.8, better than the UK at 6.0 and worse than the USA at 11.7. So if drill baby drill was a short term policy for the US, the same holds for Norway, but possibly a bit more. All data from BP summary.
None of which argues against the Norwegians having obtained significant benefits from their oil reserves, arguably they have managed them better than any other country.