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I too wish I was sitting on near-infinite reserves of natural resources. The Norwegian economy and social state can sustain itself for generations on oil income
by hack_edu 11y ago
I too wish I was sitting on near-infinite reserves of natural resources. The Norwegian economy and social state can sustain itself for generations on oil income alone. Its population literally doesn't need to work and can still support the current quality of life.
- RobertoG 11y agoOn the other hand, the example of other countries with oil makes me feel lucky that mine doesn't have.
- shaneqful 11y agoThe difference between Norway and most countries with Oil is how Norway manages the proceeds. It has a very long term plan and doesn't allow too much of the money to reside in Norway thereby artificially inflating the economy.
- scott_karana 11y agoYes, agreed. The recent drop in oil prices has caused Canada's economy to plummet, due to mismanagement, for example. http://credbc.ca/norways-oil-gas-policy/ http://credbc.ca/norways-oil-gas-policy/