In reply to my recent letter regarding the wonderful success Norway has made of its oil industry, Ellis Thorpe (Letters, 20 October) says there is little point in using Norway as an example of what can be done politically unless I am suggesting nationalising the UK oil industry.
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.
It 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.