Why Norway Is Becoming the Richest Country [video](youtube.com)
youtube.com
Why Norway Is Becoming the Richest Country [video]
https://www.youtube.com/watch?v=RO8vWJfmY88
5 comments
Anybody got a TL;DW (didn't watch)?
Second longest coastline in the world.
Fjords run deep into the country. Maritime society.
Major lumber exporter.
The UK agreed to a median line split for divvying up oil fields.
A tiny island 17km off shore gave Norway 85% of the most productive oil field in the North Sea.
Oil and gas companies operating in Norway come under the control of the government after 100 years.
A low corruption society was in place prior to the appearance of oil wealth.
The sovereign wealth fund has a strictly capped draw down to prevent politicians from looting it.
Fjords run deep into the country. Maritime society.
Major lumber exporter.
The UK agreed to a median line split for divvying up oil fields.
A tiny island 17km off shore gave Norway 85% of the most productive oil field in the North Sea.
Oil and gas companies operating in Norway come under the control of the government after 100 years.
A low corruption society was in place prior to the appearance of oil wealth.
The sovereign wealth fund has a strictly capped draw down to prevent politicians from looting it.
So oil, like the Middle East.
Except not like the Middle East, with the influence of Farouk al-Kasim, and, more broadly, socialism. "The Iraqi who saved Norway from oil". Paywall at https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feab... . HN discussions at https://hn.algolia.com/?q=The+Iraqi+who+saved+Norway+from+oi... .
In short, an Iraqi man married a Norwegian women. Their kid had cerebral palsy. They decided their son could get the best care in Norway, so moved to that country.
The man has both academic training and industrial experience with the oil industry, at a time when the Norway’s oil administration had only three officials. When al-Kasim went to the Ministry of Industry looking for a job in the oil industry, they jumped at the opportunity to tap his expertise.
He helped write the plan which puts the socialist state in control of managing the oil wealth, balanced between reply on private foreign companies and a "bloated, politicised oil sector" of only government control, quoting an excerpt from https://www.isegoria.net/2009/09/the-iraqi-who-saved-norway-... . Statoil is a Norwegian state-owned private Norwegian oil company, giving the Norwegian government deep access to the costs and profits in oil extraction.
I remember an account from the original FT story. The Norwegians told the oil companies the country would charge a super-profit tax of 40% on top of the 50% corporate rate. The companies said something like "what? That's too high!". The Norwegians replied "Since none of you walked out, I think it was too low."
In short, an Iraqi man married a Norwegian women. Their kid had cerebral palsy. They decided their son could get the best care in Norway, so moved to that country.
The man has both academic training and industrial experience with the oil industry, at a time when the Norway’s oil administration had only three officials. When al-Kasim went to the Ministry of Industry looking for a job in the oil industry, they jumped at the opportunity to tap his expertise.
He helped write the plan which puts the socialist state in control of managing the oil wealth, balanced between reply on private foreign companies and a "bloated, politicised oil sector" of only government control, quoting an excerpt from https://www.isegoria.net/2009/09/the-iraqi-who-saved-norway-... . Statoil is a Norwegian state-owned private Norwegian oil company, giving the Norwegian government deep access to the costs and profits in oil extraction.
I remember an account from the original FT story. The Norwegians told the oil companies the country would charge a super-profit tax of 40% on top of the 50% corporate rate. The companies said something like "what? That's too high!". The Norwegians replied "Since none of you walked out, I think it was too low."
> When al-Kasim went to the Ministry of Industry looking for a job in the oil industry
He also did this in the most "by the way" way, he landed in Oslo had a few hours to kill waiting for his train connection, so he went to their office...
He also did this in the most "by the way" way, he landed in Oslo had a few hours to kill waiting for his train connection, so he went to their office...
> Major lumber exporter.
There are some rumors that the lumber comes from tropical forests.
There are some rumors that the lumber comes from tropical forests.
Isn’t it all the sovereign wealth fund ?
...also according to the video, the culture of collective ownership and ensuring that foreign investment didn't result in foreign ownership in the longer term.
Oilfields and good policies managing the wealth the state extracts from it.
I have mostly horror stories for you.
I am native, and we do have oil, fjords blonde and .. misc. people that number a fraction of saudia arabia. All is not idyllic, most people like me die many years before reaching my age. My story is one that should have long since died and thus not been told. Tragic, cruel & ironic in the worst ways from start. TL;DR and a bit of a downer, so short short sunny version:
https://en.wikipedia.org/wiki/NOKAS_robbery
^
One of those guys is the closest I have toa father figure, the police forced me to live in his town under his roof Norway: Where junkies keep you drug-fre, the criminals get you your first degree, bribe you with ADSL, weed and a higher education and the government agencies break the law & fuck you legally up for life.
- the 65M NOK still missing. We had paper money then, polymer now. They still ask them where the money is after having served 1.5 decades of time and changing the form of fucking currency we use.
Like I said sunny, if somewhat omitting most shitty events leading up to that, and more recent ones. It gets really bad, most people I know of facing those teens and early adulthood died .. 20 years ago. That age. Then again most people I know stuck with MS and windows despite living through the 90s aka the bsod inferno. I took up linux, bsds, programming assemblers, c, perl + misc scripting, binary exploitation and other very normal things for people that age from that background surrounded by violence and junkies.
It is very dark for those who are vulnerable, especially the under age and do not have my ability to make rocks envious pure stubborn refusal to take up heroin or participating in the national pass-time of death by self-inflicted liver damage and or cancer from its metabolites.
However, I am an optimistic fellow: I was hoping the Norwegian Political & LEgal Establishment died proving me & my assertion wrong. Drinking organic fat solvents produces industrial carcinogens as metabolites - both of which pass the blood-brain barrier - and not only a dumb idea, but infact is making them dumber..by drinking more and duying painful deaths.
- A Hacker w/ News on HN .. A Bizarro World indeed.
#PicnicElectronique #Nintendo
I am native, and we do have oil, fjords blonde and .. misc. people that number a fraction of saudia arabia. All is not idyllic, most people like me die many years before reaching my age. My story is one that should have long since died and thus not been told. Tragic, cruel & ironic in the worst ways from start. TL;DR and a bit of a downer, so short short sunny version:
https://en.wikipedia.org/wiki/NOKAS_robbery
^
One of those guys is the closest I have toa father figure, the police forced me to live in his town under his roof Norway: Where junkies keep you drug-fre, the criminals get you your first degree, bribe you with ADSL, weed and a higher education and the government agencies break the law & fuck you legally up for life.
- the 65M NOK still missing. We had paper money then, polymer now. They still ask them where the money is after having served 1.5 decades of time and changing the form of fucking currency we use.
Like I said sunny, if somewhat omitting most shitty events leading up to that, and more recent ones. It gets really bad, most people I know of facing those teens and early adulthood died .. 20 years ago. That age. Then again most people I know stuck with MS and windows despite living through the 90s aka the bsod inferno. I took up linux, bsds, programming assemblers, c, perl + misc scripting, binary exploitation and other very normal things for people that age from that background surrounded by violence and junkies.
It is very dark for those who are vulnerable, especially the under age and do not have my ability to make rocks envious pure stubborn refusal to take up heroin or participating in the national pass-time of death by self-inflicted liver damage and or cancer from its metabolites.
However, I am an optimistic fellow: I was hoping the Norwegian Political & LEgal Establishment died proving me & my assertion wrong. Drinking organic fat solvents produces industrial carcinogens as metabolites - both of which pass the blood-brain barrier - and not only a dumb idea, but infact is making them dumber..by drinking more and duying painful deaths.
- A Hacker w/ News on HN .. A Bizarro World indeed.
#PicnicElectronique #Nintendo
My take is:
The island structure is forcing a decentralized trust engagement so there are less concentration in capital, then less corruption.
It's interesting take to support crypto/blockchain toward society adoption IMHO.
There is a saying amongst old aunts here that sums it up: Blissful & ignorant.
We pump oil up form the Sea we fed off and keep pumping up sludge primarily known as that shit we put led in before and pride ourselves on not putting lead int he GAsoline or Chemical Diesel anymore. We dump mining waste into the fjords. When Norway made an electric car, "Think", it looks like a moving box on wheels out of it's Exes place to go kill itself. So dense the Criminally Insane Agency & the Not Skilled Asswipery both outsourced spying on us to Sweden. The swedes found it so bad they had to hire Denmark to avoid not killing it's entire population.. We decide smoking kills and just write that it does so on the pack and remove all branding before increasing the tax and keep on selling it in grocery stores and call it health improvement - even the Morons at the Criminal Division of the Federal Brothel Inspector's call that daft. Our politicians know everything is fucked so they drink more than the sum total of the entire Americas and wonder why young women come to the old man meetings known as Political Party meetings.
NORWAY MADE A CAR THAT LOOKS LIKE A RECYCLED STAPLES BOX THREW UP AND TURNED INSIDE OUT _BEFORE_ doing so.
https://no.wikipedia.org/wiki/Th!nk
..and they STILL WONDER WTF WENT WRONG!
Daft.
We pump oil up form the Sea we fed off and keep pumping up sludge primarily known as that shit we put led in before and pride ourselves on not putting lead int he GAsoline or Chemical Diesel anymore. We dump mining waste into the fjords. When Norway made an electric car, "Think", it looks like a moving box on wheels out of it's Exes place to go kill itself. So dense the Criminally Insane Agency & the Not Skilled Asswipery both outsourced spying on us to Sweden. The swedes found it so bad they had to hire Denmark to avoid not killing it's entire population.. We decide smoking kills and just write that it does so on the pack and remove all branding before increasing the tax and keep on selling it in grocery stores and call it health improvement - even the Morons at the Criminal Division of the Federal Brothel Inspector's call that daft. Our politicians know everything is fucked so they drink more than the sum total of the entire Americas and wonder why young women come to the old man meetings known as Political Party meetings.
NORWAY MADE A CAR THAT LOOKS LIKE A RECYCLED STAPLES BOX THREW UP AND TURNED INSIDE OUT _BEFORE_ doing so.
https://no.wikipedia.org/wiki/Th!nk
..and they STILL WONDER WTF WENT WRONG!
Daft.
> So dense the Criminally Insane Agency & the Not Skilled Asswipery both outsourced spying on us to Sweden. The swedes found it so bad they had to hire Denmark to avoid not killing it's entire population..
...what?
...what?