Jump to content
Objectivism Online Forum

Norway's oil money

Rate this topic


$$$
 Share

Recommended Posts

Interesting article about Norway here:Globe and Mail

some highlights:

Oil and gas sales pay Norway's government $1-billion (U.S.) a week

"But when we have this natural resource, it's a MORAL question: Is it right for our generation to just spend this wealth, this fortune, in our time? It's taken 100 million years to create these resources, and it's possible that they will be used up in the next 50. Isn't it reasonable that the next generation also has the option to choose how to spend the money?"

...Even though the country's economy is booming, with a 2.5-per-cent unemployment rate and vast oil revenues, Finance Minister Kristin Halvorsen chose to raise taxes across the board -- not just income tax, but also the already high taxes on food, on housing and on fuel

...Foreign aid spending, already the highest in the world, will be raised to almost 1 per cent of the country's economy. Foreign debts to almost all countries will be forgiven. And more money will be spent on welfare

Link to comment
Share on other sites

ha ha! good one.

"Is it right for our generation to just spend this wealth"

To just spend it...how dare someone JUST spend it. No understanding that future generations also benefit from current spending.

Also, he is assuming that oil will still be a source of wealth in the future.

"it's taken 100 million years to create these resources"

as though the Earth worked to do it for the purpose of providing for future generations

"it's possible that they will be used up in the next 50"

it's POSSIBLE...therefore we must do nothing just in case

"Isn't it reasonable that the next generation also has the option to choose how to spend the money?"

Did they extract the oil, build the original platforms? No.

Link to comment
Share on other sites

Did they extract the oil, build the original platforms? No.
This raises an interesting question (which I don't entirely know the answer to) -- who did build the platforms? My understanding is that the oil business was originated by a government business, Den norske stats oljeselskap (Statoil). If that is so, then further discussion is corrupted by the denial of basic moral principles from square 1. I don't see how you can apply moral principles in a fundamentally immoral context. It is indeed a moral question whether it is right for this generation or for anyone to spend this wealth, since the wealth, in the form that it exists, should not exist. I really don't know what the solution is -- give the wealth to those who might have rightly created it? Give it back to those from whom it was wrongly taken? The former is probably uncomputable and the latter is untraceable.
Link to comment
Share on other sites

This raises an interesting question (which I don't entirely know the answer to) -- who did build the platforms? My understanding is that the oil business was originated by a government business, Den norske stats oljeselskap (Statoil). If that is so, then further discussion is corrupted by the denial of basic moral principles from square 1. I don't see how you can apply moral principles in a fundamentally immoral context. It is indeed a moral question whether it is right for this generation or for anyone to spend this wealth, since the wealth, in the form that it exists, should not exist. I really don't know what the solution is -- give the wealth to those who might have rightly created it? Give it back to those from whom it was wrongly taken? The former is probably uncomputable and the latter is untraceable.

*Shrug*

- Grant

Link to comment
Share on other sites

This raises an interesting question (which I don't entirely know the answer to) -- who did build the platforms? My understanding is that the oil business was originated by a government business, Den norske stats oljeselskap (Statoil). If that is so, then further discussion is corrupted by the denial of basic moral principles from square 1. I don't see how you can apply moral principles in a fundamentally immoral context. It is indeed a moral question whether it is right for this generation or for anyone to spend this wealth, since the wealth, in the form that it exists, should not exist. I really don't know what the solution is -- give the wealth to those who might have rightly created it? Give it back to those from whom it was wrongly taken? The former is probably uncomputable and the latter is untraceable.

Seems like a non issue. The industry may have been started by tax payers money. If government still owns oil producing platforms and such, they should be sold off and the money given back to tax payers.

Link to comment
Share on other sites

How much more can Norway raise taxes?

When I was there 2 1/2 years ago in Oslo, a pizza and two beers was $50.

How high? Don't know, don't want to know. The sales tax is actually lower than in Sweden, and now they tax food at merely twice the usual American tax rate. Whoopee!

Anyhow, there's no question that the Norwegian government should immediately end all taxation, terminate all social service programs, sell all non-defense or police related government property, although it is plain to see that this will not happen. As a taxpayer, I would like some of my money back, though other people would also like some of their tax money back, so the only serious question here is what is the proper way to make reparations.

The question (post 3) of who built the platforms is indeed entirely irrelevant, and has no bearing at all on the question of who should receive this ill-gotten gain derived from (whopping) taxation. Mr $$$ confused the issue by interjecting that red herring. My proposal, painful as it might seem, is that the money should simply be destroyed in a supreme recognition of the true nature of coercive government and taxation.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...