Frugal Norway saves for life after the boom - Part 2


	Frugal Norway saves for life after the boom - Part 2
JICWyllie
2-21-2008 7:30 AM
218 views
tags:
energy, oil, i-policy, i-success, i-reported
Add a Comment
Login to Comment. Not a member yet? Sign up
View the Top Clips from February 21, 2008
Embed This Clip In Your Site...
<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/6b20d3e9-4759-4c2a-9877-c73ae9c88386/B643BFF7-3DD4-45CD-A294-E24C8ABCBCBE/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic" href="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic" style="font-size: 11px;">www.theglobeandmail.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic">
While other countries have become apathetic and uncompetitive during petroleum booms, Norway appears near the top of every international index of competitiveness and entrepreneurship.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic">
The “Norwegian model” has become a topic widely studied, but rarely imitated,</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic"> In exchange for the right to drill, they must hand 78 per cent of their profit over </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic">
This is Norway's long-term savings account</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic">By the end of next year, even with an oil-price decline, it is projected to hold almost $500-billion, or $117,000 for each citizen.</blockquote><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content6.clipmarks.com/images/clip-icon.gif" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic/?pageRequested=2" href="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic/?pageRequested=2" style="font-size: 11px;">www.theglobeandmail.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic/?pageRequested=2">All but 4 per cent of Norway's oil earnings must be placed in the fund for savings; nothing can be withdrawn from the fund until the oil is gone,</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic/?pageRequested=2">the oil revenue doesn't go into the economy, it flows out,</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic/?pageRequested=2"> the oil revenue is not revenue at all, it's just wealth being moved into a more diversified portfolio for the future.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic/?pageRequested=2">Knight, Alberta's Energy Minister, said </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNStory/oilsands/feature-topic/?pageRequested=2">during a recent visit to London that he does not believe his province has any lessons to take from Norway.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B643BFF7-3DD4-45CD-A294-E24C8ABCBCBE/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
Clipmarks: Home; New Clips; Top Clips; Dashboard
Popular Topics: News; Life; Science; Technology; Entertainment
Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch
Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map
About Clipmarks: About Us; Contact; Blog; Copyright; Privacy; EULA
Search Options

Related Clips

More clips from JICWyllie

Today's Top Clips
