State run energy policy works in Norway: $500 bn surplus

Discussion in 'Economics' started by tmarket, Aug 31, 2009.

  1. In a world dominated by big corporations and mantras of deregulation, the state run oil system in Norway has created a surplus savings account of $500 bn dollars, about $100,000 for each of Norway's 5 million people.

    This could not have happened here, with big oil companies running the energy policies of the US.

    How did they do this in Norway? It was ironically by the help of an Iraqi immigrant. Yes, an immigrant oil geologist that helped Norways towards energy and financial independence from big oil and foreign countries. Read on..

  2. I read that article, and then read some fool posting here (down in the ninth ring of ET hell) that no Ay-rab or Muslim was doing anything to help anyone, other than themselves, of course.
    So you're running up against two ET verities: the state never does anything right, and neither do the Arabs and or the Muslims.
    Good luck. You'll need it.
  3. This is because the Noregians actually Allow for oil drilling.
    Try obtaining a drillig permit in the USA these days, even Alaska.
    The US congress will simply not allow it. Public or Private.
  4. And out of no where we'll soon hear the ear splitting shrill noise of some neocon screaming socialism. Forgetting he's on welfare himself and living in a trailer.
  5. toc


    'And out of no where we'll soon hear the ear splitting shrill noise of some neocon screaming socialism. Forgetting he's on welfare himself and living in a trailer.'

    Well Said! CNN reports that US healthcare is more expensive than Canada and Germany by far and each single year government overspends by $1.5 Trillion.

    That is the answer to all the financial woe's of the US. But the main problem is the Neocons, Republican Evils, Conservative Christian Morons etc. cry socialism and liberlism and other nonsense words and soon bring in 'national defense' logic and any good 'clean the sheets' type of program or initiative is outshouted and discarded.

    Neocons brought the Iraq war on the US and they should be 'hanged to dry' on the lamp posts in DC, NY and LA. :D :cool: :p
  6. toc

    You forget that most neocons are NRA types with firearms
    and plenty of ammo. They also know how to use them. Something to be mindful of as you try to hang them on streetposts. :D
  7. burn8


    $500 billion overage... sounds like a mis-allocation of resources to me.

  8. Mnphats


    Deep breath, ahhh. Feel better after the rant.
  9. Norway produces 2.5 million barrels of oil per day which is more than 10 times what it uses. What country couldnt get rich that way? If the US produced 10 times the amount of oil we use, dont you think we would have no deficit?
  10. The article says "savings fund, which now totals some £240bn". At the current rate of $1.626/£ that is $390 billion, not $500 billion.

    Please post links to all the articles on how many hundreds of billions of dollars the state run oil companies of Mexico and Venezuela have in their savings funds.

    The oil companies in the USA have not done anything to stop the Federal Government or state governments from setting up savings funds funded with oil money. In 2008 just one oil company (Exxon Mobil) paid $34.5 billion in sales taxes, $41.7 billion in other taxes and $36.5 billion in income taxes.

    Why don't you ask Federal and state governments what they do with the hundreds of billions of dollars they receive in oil company taxes every year. Over the last 20 years we are talking trillions of dollars. What did the Federal and state governments do with the trillions of dollars in tax revenues from the oil companies over the last 20 years? We all know that they did not save it. The one exception is Alaska, with the Alaska Permanent Fund having a $30 billion balance as of 06/30/2009.
    #10     Sep 1, 2009