Is Norway Too Dependant on Oil?
Synopsis
Norwegians pay the highest prices in Europe for food and drink, with alcohol and tobacco costing three times the EU average.
Synopsis
At ARA Solutions in Oslo, Norway's largest oil services company, the chief executive discusses the country's reliance on oil. Norway has built a $760 billion oil fund and enjoys significant budget surpluses. However, traditional industries face challenges as the oil sector dominates. Experts express concern about declining productivity, noting that Norwegians work the second fewest hours in Europe while earning the highest wages. The new center-right government aims to enhance competitiveness in non-oil sectors amid these economic pressures.
Deep Dive
Why Watch
- Find out how Norway manages its $760 billion oil fund.
- See the effects of oil dependency on Norwegian society.
- Meet ARA Solutions, Norway's largest oil services company.
Did You Know
- Norwegians work the second fewest hours a week in Europe.
- Norway has the highest hourly wages in Europe.
- Norwegians pay the highest price in Europe for food and drink.
- Norwegian air shuttle has moved parts of its operations out of the country.
Perfect For
Frequently Asked Questions
What is Norway's oil fund worth?
$760 billion.
How does Norway's work hours compare to the rest of Europe?
Norwegians work the second fewest hours a week in Europe.
What has happened to dropout rates in Norway?
Dropout from high school has increased relative to other Nordic countries.
What are people saying?
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