Big Oil - Still Raping The Planet And The People
383 ViewsCompare this:
Each member of parliament is being offered $5 million dollars to vote for the law, that would give big oil up to 88% of Iraq’s oil income, a deal no other major oil producing country would take without a gun to their head. Big Oil Tries To Bribe Iraqis
to this:
The Management Rule is the heart of Norway’s economic miracle. It is a profound act of self-discipline: All but 4 per cent of Norway’s oil earnings must be placed in the fund for savings; nothing can be withdrawn from the fund until the oil is gone, decades from now; and – most crucially – absolutely none of the money can be invested inside Norway. Mr. Slyngstad and his traders spend their days funnelling the oil wealth into foreign stocks and bonds, so none of it will touch the Norwegian economy. Frugal Norway saves for life after the boom
February 1st, 2008 at 8:44 am
Scandinavia never ceases to amaze. A while ago I heard there are Swedish MPs who are openly pro- P2P file sharing.
I also read that the income difference between a CEO and a common laborer makes a ratio of 13 to 1 in Sweden, compared to 475 to 1 in the US.
February 1st, 2008 at 9:41 am
Don’t see that the oil fund is so great, it’s large yes. BUT it’s invested in economies that are surely going to tank, thus nullifying the money.
February 1st, 2008 at 12:20 pm
You’ll have a perspective that I won’t have, simply because I don’t live there and understand what is going on.
However, what Norway is doing would be illegal here. They’d shoot the person who’d try to invest in future generations. That’s what makes this so unusual (for us), and apparently, much of the world. Planning ahead for post-oil is groundbreaking in today’s world.