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Norway uses oil trade business excess of $300


Mr Slayer

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OSLO: For a people whose deep national pride is bestowing the Nobel Peace Prize, Norwegians are developing a reputation for throwing sharp elbows.

And the country is doing it in an unexpected way: by pulling investments out of Wal-Mart and other companies for what it claims are ethical failings.

Norway has amassed a fortune in excess of $300 billion over the past decade, thanks to a geyser of profits from its oil exports. Yet few countries are more ambivalent about their vast wealth than this modest, socially conscious Scandinavian society of fewer than five million people.

So rather than managing this monstrous nest egg simply for the best returns, the reluctant billionaires of Norway are using the fund to advance an ambitious ethical code that they established in 2004 for their oil reserve, known as the Government Pension Fund.

Norway's investment choices have grown more controversial in the past nine months over the exclusion of Wal-Mart, the American retailer whose big-box stores do not exist in this pristine country.

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I recently wrote my master's thesis about ethical funds/investment, and this warms the heart. :)

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Yes, the Scandinavian countries are the best in the World from what I hear. :tu:

Edited by Bob26003
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Yes, the Scandinavian countries are the best in the World from what I hear. :tu:

I do have a lot of gripes about the weather ;) On a serious note though, I wouldn't raise my possible future kids anywhere else. This is a good place to live despite the location. However, I'm not saying there aren't other nice places which is why I already have and probably will live in other places as well, just get more perspective.

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Yes, the Scandinavian countries are the best in the World from what I hear. :tu:

You should go live there.

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You should go live there.

no war no poverty..where do i sign up?

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Too liberal for me. I believe the welfare programs over there are generous, then again, it is over here.

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Yes, the Scandinavian countries are the best in the World from what I hear. :tu:

How would you handle the compulsory military service?

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How would you handle the compulsory military service?

Hahahaha :D Well, in Sweden it is very easy to avoid, or so my buddies living there tell me ;) It does give you a lot of perspective though, so I would go for it!

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How would you handle the compulsory military service?

Well Bruce, Considering that Norway is not an aggressor and does not start Wars based on lies............ I would do it. At least if something did happen I may be able to be confident that my cause is just.

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I applaud Norway for this ... of course, it's easier to be highly ethical when one is cash rich. If Norway was hungry for economic development, I wonder if they would have made the decision as easily?

Anyway, I'd move to Norway in a heartbeat -- it's probably warmer than Minnesota! Also, my wife is of 100% Norwegian extraction .. and she's very nice!

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I applaud Norway for this ... of course, it's easier to be highly ethical when one is cash rich. If Norway was hungry for economic development, I wonder if they would have made the decision as easily?

Anyway, I'd move to Norway in a heartbeat -- it's probably warmer than Minnesota! Also, my wife is of 100% Norwegian extraction .. and she's very nice!

Your wife is of Norwegian heritage? Lucky b******! :D Norwegians (Swedish and Danish too) are HOT! Minnesota is probably much like Scandinavia when it comes to weather. Never been there myself but my relatives living around Duluth think it is. And I noticed I forgot to commend Norway for what they're doing: way to go! I wish the rest of the world would follow. By the way, Norway is oen of the few countries which have actually benefited of their oil in terms of the whole populace ;)

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My girlfriend is Norwegian. She's hot. And very, very cool as well. If that makes sense. Should be off out there in the summer, can't wait. It doesn't get dark where she's from.

Basically the Scandinavians have got life exactly right I think.

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:D

Are we going to talk about ethical investment here or each other's hot Norwegian girlriends?

Edited by AshKatNah
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:D

Are we going to talk about ethical investment here or each other's hot Norwegian girlriends?

I don't have a Norwegian girlfriend, I have a Norwegian wfie, and she's hot.

But anyway, I have heard that Norway's oil wealth has led to some peculiar circumstances. For example, on any given day, I understand that 25% of the workforce never shows up for work because they have such generous sick-leave and vacation policies. Again, I wonder if Norway wasn't cash rich, the people would have it so easy.

Another major Norway issue: I understand the government there is encouraging people to choose different names for themselves because there are too many people with the same name, such and Anderson, etc.

Also, I heard -- and I'm not making this up -- that a Norwegian couple recently tried to name their new baby girl "Metallica" but government authorities rejected saying the name was "ugly" for a girl.

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Five million is the total population? We have more people living in some of our Mexican cities.

Do they still hunt whales?

Edited by Aztec Warrior
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But anyway, I have heard that Norway's oil wealth has led to some peculiar circumstances. For example, on any given day, I understand that 25% of the workforce never shows up for work because they have such generous sick-leave and vacation policies. Again, I wonder if Norway wasn't cash rich, the people would have it so easy.

Plus, an ultra-tiny population. Norway has an estimated population of 4,600,000, in an area of 385,000 sq km; compare that to my home-state, Kentucky, which has a population of 4,100,000 in an area almost 3x smaller than Norway. And my state is considered rural!

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Norway has a reputation for many things, such as A'ha, world class porn and wailing....its true, all a little Liberal minded, i like a little Edge...c'mon

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What I would give to live in a country which isn't full to the brim. With idiots

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But anyway, I have heard that Norway's oil wealth has led to some peculiar circumstances. For example, on any given day, I understand that 25% of the workforce never shows up for work because they have such generous sick-leave and vacation policies. Again, I wonder if Norway wasn't cash rich, the people would have it so easy.

Another major Norway issue: I understand the government there is encouraging people to choose different names for themselves because there are too many people with the same name, such and Anderson, etc.

Also, I heard -- and I'm not making this up -- that a Norwegian couple recently tried to name their new baby girl "Metallica" but government authorities rejected saying the name was "ugly" for a girl.

Haven't heard the first two rumours. But the government OK:ed the name eventually ...

Either way, Norwegian people are so rich that they have to keep spending and spending money unless inflation (or was it deflation) would hit the country.

Do they still hunt whales?

Yes. And bludgeon seals.

Norway has a reputation for many things, such as A'ha, world class porn and wailing....its true, all a little Liberal minded, i like a little Edge...c'mon

Don't forget the black metal :devil:

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