m
m


  
 
 Y
  
 

 
   







m  Y

    
r 
 

= `
`with heavy state-ownership in strategic areas of the economy.The government
holds shares in a number of large enterprises
= overnment is able to handle profits well and enhance the growth and development of the
country
= Money is used to propel investments and improve the education system for example
= No corruption
= %

= The government is able to plan ahead and is always looking for more ways to enhance economic
growth
= Examples: 1) In 1992, Norway's offshore oil and taxes amounted to K R 32,299 million.
Although the expansion of innovative oil development projectsȄsuch as the $4.2 billion
Heidrun oil projectȄcontinues, Norway is looking to produce more natural gas than oil. The $5
billion Troll gas field is one such project.

=  
has also long been a support of Norway's export sector
= but fueled by an V
VV
V
, including petroleum exploration and production,
hydroelectric power, and fisheries.
= public sector among the largest in the world as a percentage of the overall gross domestic
product.
r 
 

= %

= The government is able to plan ahead and is always
looking for more ways to enhance economic growth
= In 1992, Norway's offshore oil and tax amounted to
K R 32,299 million. Although the expansion of
innovative oil development projectsȄsuch as the
$4.2 billion Heidrun oil projectȄ continues,
Norway is looking to produce more natural gas
than oil. The $5 billion Troll gas field is one such
project.
= The country's Petroleum Fund reached $67 billion
at the end of 2001; the fund will be used to finance
government programs once Norway's oil and gas
resources run out.
¯Y
  
= exploitation of offshore oil and natural gas
reserves
= petroleum exploration and production,
hydroelectric power, and fisheries.
  

= Norway is not fully dependent on one type of

industry
= Has invested in both natural resources and
other industries
= More sustainable

 
Ê 





%  


w 

= Natural resource wealth does generate

economic developlent and growth
= But it is not the sole contributor
= It can only propel the economy if it is
harnessed the right way to its fullest potential
= Other industries must also be developed from
the profits from the natural resource industry
= Plans to make sure the country is sustainable
on natural resources and other industries
must be looked into for long term benefits