Norwegian oil
I’m afraid he has lost me there. Norway has not nationalised its oil industry. The Norwegian government has a 65 per cent stake in Statoil, but, apart from that, all the world’s oil majors operate successfully in Norwegian waters, including, among others, Shell, Mobil, BP and Total.
I find it strange that apologists for the incompetent oil policy run by Westminster always want us to avoid comparing Norway’s success with our failure.
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Hide AdIt is not about fluctuating oil prices. They will always fluctuate. It is about the careful husbanding of resources when prices are high so that we have something for the times when oil prices are low. (Like Norway’s trillion-dollar oil fund.)
Incidentally, Statoil has this week announced that the average salary for its 23,000 employees is $153,000 (£94,850). Not bad for a wee, North European country.
James Duncan
Rattray Grove
Edinburgh