European Tribune - Comments - Countdown to 100$ oil (10) - Simmons says 300$ soon

Countdown to 100$ oil (10) - Simmons says 300$ soon - and more | 21 comments (21 topical, editorial, 0 hidden)

... I've recently found I just learned some Chinese.

Ka-CHING!!!

http://www.aftenposten.no/english/local/article1041455.ece

Synopsis:

Norway's central banks said Thursday that the Petroleum Fund, saving wealth for future generations, grew by seven percent in the three months to the end of March and is now worth NOK 1.09 trillion (USD 170.4 billion).

That's ~€29.000/~$37.500 per capita.

____________
Dub mentality

by Coug (me(AT]tommyb{DOT]info) on Thu Aug 18th, 2005 at 11:21:10 AM EST

Re: As a Norwegian... (none / 0)

That's very interesting. Please write a diary on this petroleum fund sometime soon. All countries should be doing this...if I understand it correctly.

"Once in awhile we get shown the light, in the strangest of places, if we look at it right" - Hunter/Garcia

by whataboutbob on Thu Aug 18th, 2005 at 02:20:46 PM EST
[ Parent ]

Re: As a Norwegian... (none / 0)

I'm afraid that it is beyond the realm of possibility for most nations to do anything like this.
The NPF (check the links in the left-hand margin) invests a certain portion of the state's income in this fund. The state is running a huge surplus due mainly due to income from the oil (and gas, to a lesser extent) production in the North Sea.
Given the current crude prices, the surplus is beyond any previous (conservative) budget.

by ask on Thu Aug 18th, 2005 at 09:04:31 PM EST
[ Parent ]

Re: As a Norwegian... (none / 0)

I'd love to think that economic lesson-giver Britain had done something intelligent like this with its share of North Sea oil, but..?

by afew (afew(a in a circle)eurotrib_dot_com) on Fri Aug 19th, 2005 at 04:18:21 AM EST
[ Parent ]

but... it didn't... (none / 1)

Thatcher blew most of the money on tax cuts and randomly quirky economic policies... Our infrastructure (e.g. trains, water, etc.) show the scars to this very day.

by Metatone (metatone [a|t] gmail (dot) com) on Fri Aug 19th, 2005 at 05:53:17 AM EST
[ Parent ]

Countdown to 100$ oil (10) - Simmons says 300$ soon - and more | 21 comments (21 topical, 0 editorial, 0 hidden)

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