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End of oil boom threatens Norway's welfare model 

By: Zimbler0 in FFFT | Recommend this post (2)
Fri, 09 May 14 6:59 AM | 44 view(s)
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End of oil boom threatens Norway's welfare model

http://news.yahoo.com/end-oil-boom-threatens-norways-welfare-model-053548286--sector.html

OSLO (Reuters) - Norway's energy boom is tailing off years ahead of expectations, exposing an economy unprepared for life after oil and threatening the long-term viability of the world's most generous welfare model.

High spending within the sector has pushed up wages and other costs to unsustainable levels, not just for the oil and gas industry but for all sectors, and that is now acting as a drag on further energy investment. Norwegian firms outside oil have struggled to pick up the slack in what has been, for at least a decade, almost a single-track economy.


(Article does continue. Zim.)




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