Where is my oil money?

Glen_Clark

Interesting comparison between the Saving and Investment policy of the Norwegian Government, compared to the British Government. Worth reading all the way through: http://www.theguardian.com/commentisfree/2014/jan/13/north-sea-oil-money-uk-norwegians-fund

opinions4u

The Norweigans have been more than prudent with their oil revenue and will benefit in to the next century.

That said, their population, at less than a tenth of ours, requires significantly less spending on it.

Archi_Bald

Norway doesn't seem to feel the need for being constantly involved in costly wars, either.

opinions4u

Archi_Bald wrote: »

Norway doesn't seem to feel the need for being constantly involved in costly wars, either.

Or contributing to the European federal dream.

JohnRo

Or supporting a vast archaic establishment.

CLAPTON

Glen_Clark wrote: »

Interesting comparison between the Saving and Investment policy of the Norwegian Government, compared to the British Government. Worth reading all the way through: http://www.theguardian.com/commentisfree/2014/jan/13/north-sea-oil-money-uk-norwegians-fund

Sadly another worthless Guardian article devoid of any real facts and figures.
Were the Guardian arguing for reduced government spending and more government overseas investment in the 1980s when unemployment was over 3 million?

Glen_Clark

opinions4u wrote: »

Or contributing to the European federal dream.

or a one sided 'Special Relationship' with the USA?

opinions4u

Glen_Clark wrote: »

or a one sided 'Special Relationship' with the USA?

But they're the good guys aren't they?

Oh, wait ...

Glen_Clark

CLAPTON wrote: »

Sadly another worthless Guardian article devoid of any real facts and figures.

You can't have read it. There are lots of facts and figures with web links to supporting evidence.
As to what the Guardian were arguing for in 1980 I have no idea, and can't see any relevance. Unless you are saying the Tory Government was run by the Guardian?

Linton

opinions4u wrote: »

Or contributing to the European federal dream.

Afraid you are wrong here. Norway as part of the EEA does pay the EU for those EU schemes in which it takes part and for the development of new EU member states. Costs to Norway for 2013/2014 are expected to be 550M euros, of course the UKs costs would be proportionately higher. But since it is not part of the EU Norway has to accept EU decisions which affect it without the power to influence them.

See here.

jamesd

The oil money is in the pockets of the people who were around when most of the il was being pumped. Profits for their investments, lower taxes than otherwise and a general boost from reduced oil prices compared to not extracting it. Something similar can be expected from shale gas and shale oil as those get extracted. Not one big state fund to point to but the money was still made. We could certainly do with the lower energy prices and extra jobs that shale resources have been producing in the US in recent years.