North Sea oil

[LinuxGal]

The UK and Norway discovered oil at roughly the same time, and have extracted roughly the same total amount of oil and gas. Norway has a sovereign wealth fund amounting to $1.4 trillion. The UK, and consequently Scotland, has a sovereign wealth fund amounting to the square root of sod all.

https://eandt.theiet.org/content/article...countries/

According to the Natural Resource Governance Institute, “The two countries have equivalent geology and a similar resource base – the North Sea Basin is effectively split down the middle between them. The UK and Norway both began offshore exploration and production in the mid-1960s with the first oil discoveries made in 1969. Since then, both countries have produced similar amounts of hydrocarbons: the UK has produced 42.8 billion barrels of oil equivalent (boe) and Norway 40 billion boe. That the two countries should be so far apart in terms of their current prosperity comes down basically to the British spending their profits while the Norwegians saved theirs. In Aberdeen, the self-appointed oil capital of Europe, during the early 1990s recession a piece of graffiti appeared saying: “Dear God, give us another oil boom. Next time we won’t p*ss it up against the wall.”

[Gawdzilla Sama]

That last bit is comedic fantasy.

[BrianSoddingBoru4]

I find it utterly shocking that people who save money have more money saved than people who don’t save money. What an incredibly perceptive observation.

Boru

[LinuxGal]

That last bit is comedic fantasy.

I read a story like this once in an ancient book with talking animals.

[Anomalocaris]

The UK and Norway discovered oil at roughly the same time, and have extracted roughly the same total amount of oil and gas. Norway has a sovereign wealth fund amounting to $1.4 trillion. The UK, and consequently Scotland, has a sovereign wealth fund amounting to the square root of sod all.

https://eandt.theiet.org/content/article...countries/

According to the Natural Resource Governance Institute, “The two countries have equivalent geology and a similar resource base – the North Sea Basin is effectively split down the middle between them. The UK and Norway both began offshore exploration and production in the mid-1960s with the first oil discoveries made in 1969. Since then, both countries have produced similar amounts of hydrocarbons: the UK has produced 42.8 billion barrels of oil equivalent (boe) and Norway 40 billion boe. That the two countries should be so far apart in terms of their current prosperity comes down basically to the British spending their profits while the Norwegians saved theirs. In Aberdeen, the self-appointed oil capital of Europe, during the early 1990s recession a piece of graffiti appeared saying: “Dear God, give us another oil boom. Next time we won’t p*ss it up against the wall.”

the british didn’t go from the sun never set to the sun hardly ever rise, nor from being part of the world’s largest market to being outside it, by being good with husbanding what they’ve got instead of giving themselves the airs.

[BrianSoddingBoru4]

The UK and Norway discovered oil at roughly the same time, and have extracted roughly the same total amount of oil and gas. Norway has a sovereign wealth fund amounting to $1.4 trillion. The UK, and consequently Scotland, has a sovereign wealth fund amounting to the square root of sod all.

https://eandt.theiet.org/content/article...countries/

According to the Natural Resource Governance Institute, “The two countries have equivalent geology and a similar resource base – the North Sea Basin is effectively split down the middle between them. The UK and Norway both began offshore exploration and production in the mid-1960s with the first oil discoveries made in 1969. Since then, both countries have produced similar amounts of hydrocarbons: the UK has produced 42.8 billion barrels of oil equivalent (boe) and Norway 40 billion boe. That the two countries should be so far apart in terms of their current prosperity comes down basically to the British spending their profits while the Norwegians saved theirs. In Aberdeen, the self-appointed oil capital of Europe, during the early 1990s recession a piece of graffiti appeared saying: “Dear God, give us another oil boom. Next time we won’t p*ss it up against the wall.”

the british did go from the sun never set to the sun hardly ever rise, nor from being part of the world’s largest market to being outside it, by being good with husbanding what they’ve got instead of giving themselves the airs.

The reason the sun never set on the British Empire was because even Mother Nature didn’t trust those fucking limeys in the dark.

Boru

[Gawdzilla Sama]

Not heard that one before.

[arewethereyet]

I find it utterly shocking that people who save money have more money saved than people who don’t save money. What an incredibly perceptive observation.

Boru

I need to put this on the "What do you know today that you didn't know yesterday" thread.