by Back to hewers of oil.....well done Harpo ( PM Harper -)....not.
Canada taking a back seat in global recovery, says S&P
DAVID BERMAN
The Globe and Mail
Published Monday, Apr. 22 2013, 7:00 PM EDT
Last updated Monday, Apr. 22 2013, 7:00 PM EDT
Canada taking a back seat in global recovery, says S&P - The Globe and Mail
Meanwhile in a well run economy that
a) does not give it's oil away
b) values and supports manufacturing
Growth in Norwegian manufacturing
Production in manufacturing increased by 1.7 per cent from the second to the third quarter of 2012, according to fresh figures from Statistics Norway.
Industries such as machinery and equipment, and ships, boats and oil platforms had a continued production growth in this period.
This can be related to a strong increase in new orders in the second quarter for these industries, and a significant growth in employment during the third quarter.
The output within machinery and equipment, and ships, boats and oil platforms was thus at a record high level in the third quarter of 2012, with a volume growth of over 80 per cent since 2005. Furthermore, production in food products also went up by 2.0 per cent from the second to the third quarter of 2012.
There was a 5.5 per cent increase in Norwegian manufacturing output from August 2011 to August 2012, according to working-day adjusted figures. Industrial production in the euro area decreased by 2.9 per cent in the same period, according to figures published by Eurostat.
5.5% increase for Norway despite Europe's woes...and then there are the unemployment figures
Norway Unemployment Rate - Trading Economics
Norway Unemployment Rate - Cached
Unemployment Rate in Norway is reported by the Statistics Norway. Historically, from 1997 until 2013, Norway Unemployment Rate averaged 3.44 Percent ...
Norway unemployment seen falling in 2013, 2014 labour agency
News | Business News | Current News | Latest World News | Current World News | Pakistan News › Business › Industries & Sectors - Cached
Feb 5, 2013 – OSLO: Norway's unemployment rate will fall to 2.4 percent in 2013 and 2.2 percent in 2014 due to high consumer consumption and a ...
Both are social democracies....one now run by a right wing ideologue - the other by pragmatic managers out to benefit their citizenry and would be considered by many very left wing.
This series is a very good read
Norway vs. Canada: Where to Draw the Line with Big Oil
By owning a large stake in the business, Norway has more control over safety and the bottom line. Fourth in a series.
By Mitchell Anderson, 15 Aug 2012, TheTyee.ca
Instead of charging royalties as Canadian provinces do, Norway makes its money by taxing profits of both foreign and Norwegian owned oil companies. Image by April Alayon.
The University of Stavanger boasts something that is absent from most other college campuses: a 30-story oil rig. Of course no one is expecting to find oil in the barren granite under the cafeteria. It was a gift from Shell Oil in 1985 and has been used for the last 28 years to train Norwegian petroleum engineers.
So why would an oil company do such a thing? The same reason that a teenager would bring a bouquet of flowers for his prom date's protective mother -- to buy some goodwill.
The so-called Goodwill Agreements in the 1980s required that foreign oil companies transfer proprietary knowledge to Norwegians and fund training facilities like the simulation drill rig on the Stavanger campus. In return they received not oil concessions or money, but "goodwill" from the Norwegian government.
Far from fleeing Norway after the country's hard bargaining in the 1970s, the oil industry 10 years later was lining up to do business there. Why? Because they knew the Norwegian government had the same motivation that they did: to make money from Norwegian oil.
Instead of charging royalties as Canadian provinces do, Norway makes their money by taxing the profits of both foreign- and Norwegian-owned oil companies. Norway also has an equity stake in about 30 per cent of Norwegian oil production through their state-owned oil companies like Statoil providing another significant source of revenue and control.
http://thetyee.ca/News/2012/08/15/Norway-Vs-Canada/
To put the outcome of this in perspective.
Alberta - run by right wingers ) has about 3 million people inordinately proud of their Heritage fund of some $16 billion meanwhile they are running a provincial deficit of $4 billion while sitting on perhaps the second largest oil resources on the planet and STILL getting billions in subsidies federally.
Norway by contrast has $850 billion in it's Heritage fund, a thriving manufacturing sector and vanishing low unemployment.
Historically 3.4 % and moving to drop another 1%.
what was that about socialism leading to wrack and ruin.....??
