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Norway Is Walking Away from Billions of Barrels of Oil

posted by martyb on Tuesday April 09 2019, @02:55AM   Printer-friendly
from the for-how-long dept.

Phoenix666 writes:

Bloomberg:

Western Europe’s biggest petroleum producer is falling out of love with oil.

To the dismay of the nation’s powerful oil industry and its worker unions, the opposition Labor Party over the weekend decided to withdraw its support for oil exploration offshore the sensitive Lofoten islands in Norway’s Arctic, creating a solid majority in parliament to keep the area off limits for drilling.

The dramatic shift by Norway’s biggest party is a significant blow to the support the oil industry has enjoyed, and could signal that the Scandinavian nation is coming closer to the end of an era that made it one of the world’s most affluent.

How will Norway pay for its social safety network without oil revenues?

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  • (Score: 2) by Reziac on Friday April 12 2019, @02:26PM (1 child)

    by Reziac (2489) on Friday April 12 2019, @02:26PM (#828606) Homepage

    Per the most recent stats I've seen, 4 out of 5 working-age males of the current migrant influx are on welfare. Plus their families (sometimes several of 'em apiece, four wives ya know), since naturally none of the women or children work.

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  • (Score: 2) by The Mighty Buzzard on Friday April 12 2019, @06:48PM

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Friday April 12 2019, @06:48PM (#828711) Homepage Journal

    Depending on the numbers, that could indeed be a serious problem, yes. Dollars to donuts that the "yay Scandinavian welfare" folks, who also happen to be the "yay open borders" folks will still be calling for both here in the US even if they get to watch first hand how it can bankrupt a nation though. Facts are apparently a social construct now. Or possibly racist.

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