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Norway’s Big Fish Story
Norway’s Big Fish Story Decision Season With Parliamentary elections looming, more Norwegians than usual are asking themselves the tough questions. It is now apparent that the slump in oil is not a temporary one. What will the country do now? Time for the lottery winner, after receiving the last annuity, to get a job before […]
Norway Oil and Gas: Reserves, Production and Future Projection
Norway Oil and Gas: Reserves, Production and Future Projection Norwegian oil production peaked in 2000 to 2001; gas production may be peaking about now. Oil hit a low in 2013 and then recovered towards a new local peak, probably concurrent with the gas. drilling and development The most surprising thing I find with their industry […]
Inside The World’s “Doomsday Vault”
Inside The World’s “Doomsday Vault” Imagine that the unthinkable has happened. A massive asteroid impact triggers a “nuclear winter” effect, or one of the world’s most dangerous supervolcanos erupts. Maybe Donald Trump gets in an epic Twitter feud with Kim Jong-Un that initiates World War 3. Either way, things are going sideways, and the fate […]
Are 100-Year Mortgages Next? Effects of Negative Real Interest Rates on Nordic Housing Bubble
Are 100-Year Mortgages Next? Effects of Negative Real Interest Rates on Nordic Housing Bubble Wage Growth vs. Housing Price Growth By Nick Kamran, an American living in Oslo, Letters from Norway: Historically, central banks throughout Europe had one mandate: price stability. They did not worry about employment or economic growth, only currency integrity. Setting interest rates […]
Norway Doubles Down On Arctic Oil
Norway Doubles Down On Arctic Oil While Canada and the U.S. ban Arctic drilling for oil and gas motivated by environmental concerns, and majors such as Shell pull out of their Arctic projects due to financial pressures, Norwegian energy companies are planning to increase drilling in the country’s Arctic shelf in the Barents Sea. It […]
Toronto’s land transfer tax revenue is booming, but the cupboard’s still bare
Toronto’s land transfer tax revenue is booming, but the cupboard’s still bare ‘The message to Toronto is, ‘Don’t spend it all,’ economist says Toronto’s red-hot real estate market has sent municipal land transfer tax revenues soaring. But the city’s spending all that money, not saving it. (Sean Kilpatrick/Canadian Press) In times of plenty, it can […]
European Natural Gas Prices Collapse, as US Exporters Try to Muscle in on Russia, Norway, Qatar
European Natural Gas Prices Collapse, as US Exporters Try to Muscle in on Russia, Norway, Qatar US LNG exporters against the low-cost producers Oil and natural gas producers cannot catch a break of late it seems. A few years after the onset of the natural gas glut, Europe is experiencing a similar phenomenon with Russia […]
Norway’s Interest Rate Conundrum
Norway’s Interest Rate Conundrum Current Situation The ECB recently stimulated more than expected, cutting rates by five basis points and expanding quantitative easing. It is already expected that Norges Bank (The Norwegian Central Bank) will cut rates next week, seeing accelerating inflation as temporary. They have a 2.5% inflation target mandate “over time,” giving them lee-way. They see demand […]
Why Helicopter Money Can’t Save Us: We’ve Already Been Doing It For 8 Years
Why Helicopter Money Can’t Save Us: We’ve Already Been Doing It For 8 Years There’s a lot of talk going around these days about “helicopter money.” For those unfamiliar, it’s billed as a kind of last Keynesian resort when ZIRP, NIRP, and QE have all failed to boost aggregate demand and juice inflation. For instance, HSBC […]
“We Are Heading Into Anarchy”: Official Says EU Will “Completely Break Down In 10 Days”
“We Are Heading Into Anarchy”: Official Says EU Will “Completely Break Down In 10 Days” Norwegian PM Erna Solberg doesn’t want to have to skirt her country’s responsibilities under the Geneva Convention and she doesn’t want to trample over human rights either, but she will if she has to. “It is a force majeure proposals […]
Norway Warns Sweden Will Collapse, PM Will Defy Geneva Convention To Protect Border
Norway Warns Sweden Will Collapse, PM Will Defy Geneva Convention To Protect Border As you might have heard, Sweden has a refugee problem. We’ve spent quite a bit of time documenting the country’s trials and travails over the course of the last 12 months during which time Sweden has taken on more than 160,000 asylum seekers. […]
‘Occupied’ Norway a window into our fossil fuel addiction
‘Occupied’ Norway a window into our fossil fuel addiction Okay, I admit that the premise of Norwegian television’s new political thriller series “Occupied” is far-fetched. But that premise is a window on just how addicted to fossil fuels we are. In “Occupied” Norway’s Green Party wins parliamentary elections and makes good on its (not-altogether-fictional) promise to shut […]
So It Begins: Bloomberg Op-Ed Calls For An End Of Cash
So It Begins: Bloomberg Op-Ed Calls For An End Of Cash In a moment of curious serendipity, a little over 90 minutes after we showed what a dystopian, centrally-planned, cashless society unleashed in a negative interest rate world would look like (“by forcing people and companies to convert their paper money into bank deposits, the hope is […]
Norway Pushes Panic Button: “We’re In A Crisis Now, We Can’t Deny That”
Norway Pushes Panic Button: “We’re In A Crisis Now, We Can’t Deny That” We’ve spent quite a bit of time documenting Norway’s precarious balancing act in the face of slumping crude prices. On the one hand, falling crude puts pressure on the krone which essentially allows the Norges Bank to compete in the regional currency […]
Contribution from Norway — War & Money
Contribution from Norway — War & Money COMMENT: Good morning, Martin. Yesterday I bought an old booklet printed for 10 NoK at the Armed Forces Museum: “Laws, resolutions and prescripts due to circumstances of war”, by the Justice Department, printed in Kristiania (now Oslo) in 1917. I thought I there would find the outline of […]
