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The wealth of Norwegian raw oil and natural gas: 1970-2015
Category: Business News
Based mainly on national accounts statistics, and supplemented with experts’ prediction about the expected profiles of production and price for raw oil, natural gas and the LNG, this paper makes estimation of the Norwegian oil and gas wealth for the period 1970-2015, by means of the NPV approach, as recommended by the latest SEEA.
The estimated results demonstrate that in per capita terms, the Norwegian oil and gas wealth in constant (2015) prices has already passed its peak around 2000 and now is decreasing, which signals unsustainability if merely oil and gas are concerned. However, since a large part of the resource rents from extracting oil and gas are invested into other types of assets through the GPFG, it may not be so worrisome in terms of sustainability.
To read the full publication from SSB, please see HERE.
Source: SSB