Economy – overview:
The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, through large-scale state enterprises. The country is richly endowed with natural resources – petroleum, hydropower, fish, forests, and minerals – and is highly dependent on the petroleum sector, which accounts for nearly half of exports and over 30% of state revenue. Norway is the world’s third-largest gas exporter; its position as an oil exporter has slipped to seventh-largest as production has begun to decline. Norway opted to stay out of the EU during a referendum in November 1994; nonetheless, as a member of the European Economic Area, it contributes sizably to the EU budget. In anticipation of eventual declines in oil and gas production, Norway saves almost all state revenue from the petroleum sector in a sovereign wealth fund. After lackluster growth of less than 1.5% in 2002-03, GDP growth picked up to 2.5-6.2% in 2004-07, partly due to higher oil prices. Growth fell to 2.6% in 2008 as a result of the slowing world economy and the drop in oil prices.

– C.I.A.

After the Second World War, the country experienced rapid economic growth, the first two decades due to the Norwegian shipping and merchant marine and domestic industrialization, from the early 1970s a result of large oil deposits discovered in the North Sea and Norwegian Sea. Today it ranks as the wealthiest country in the world,[8][9][10] with the largest capital reserve per capita of any nation. In August 2009 the nation’s sovereign wealth fund announced that it owned approximately 1% of all the stocks in the world, presumably referring to publicly traded stocks. Norway is the world’s seventh largest oil exporter[11] and the petroleum industry accounts for around a quarter of its GDP.[12] Following the ongoing financial crisis of 2007-2009, bankers have deemed the Norwegian krone to be one of the most solid currencies in the world.[13]

Norway also has rich resources of gas fields, hydropower, fish, forests and minerals. The country was the second largest exporter of seafood (in value, after the People’s Republic of China) in 2006.[14] Other main industries include shipping, food processing, shipbuilding, metals, chemicals, mining, fishing and pulp and paper products. Norway maintains a Scandinavian welfare model with universal healthcare, subsidised higher education and a comprehensive social security system. Norway was ranked highest of all countries in human development from 2001 to 2007,[15] and then again in 2009[16], and is by the UN ranked as best country to live in[17][18]. It was also rated the most peaceful country in the world in a 2007 survey by Global Peace Index.[19]

-Wiki

Norway is at the pinnacle of wealth in the world.
They are blessed with natural resources to rival the Middle East.

Exactly WHAT would that be?

On December 10th, 2009 at 7:37 pm, Danceswithdachshunds said:

Well of course, what are Norwegians good for after you get your Nobel Peas Prize

On December 10th, 2009 at 8:27 pm, swede said:

Norwegians have accomplished nothing of significance since Leif Ericson in, what, 1,000 A.D.? Swedes, on the other hand have greatly improved life on the planet

Woe to both of you. I have done some homework and found out that Norway is at the pinnacle of wealth in the world.
They are blessed with natural resources to rival the Middle East. Also ranked as the best country to live in the world. Okay, by the UN, but still, it’s hard not to be impressed.

On December 10th, 2009 at 9:30 pm, happyscrapper said: #855620

Um…saying something and actually meaning it are two different things.

Agreed.

What did you say and did you mean it?

On December 10th, 2009 at 9:23 pm, Kingfish said:

Swede: How can you tell the difference between a Norwegian viking and a swedish one

swede, care to try again? I know the correct answer, or at least the one KF was looking for.

On December 10th, 2009 at 9:10 pm, swede said:
pure – Sit down. Breathe slowly

Yes, Mr. Gibbs.

On December 11th, 2009 at 8:49 am, jangar said:
BOB said:

Can I be inducted into the Rock and Roll Hall Of Fame?
What…for air guitar? Suuure!

Air guitar is OK..but, I’m 66 now and plan to begin singing and playing the guitar when I turn 70. I then plan on becoming a worldwide phenomenon bigger than Elvis and The Rolling Stones combined. Even bigger than William Hung!!

But, I’d like my Hall of Fame award now please. lol

Can I be inducted into the Rock and Roll Hall Of Fame?

What…for air guitar? Suuure!