Date Posted:02:50:15 06/10/15 Wed Author: Mikkel Joplassen Subject: Norway heading towards a economic and humanitarian catastrophy.
The financial disaster is happening right now in 2015 and foreward, and with that also a humanitarian disaster within the Norwegian society. More than 80% of the export income of Norway is from the petroleum sector. Norway is totally dependent upon earnings from export and subsequent import of all type of goods, and hence also totally dependent upon the revenue from the petroleum sector. Due to higher costs in Norwegian oil fields, less oil in the fields and a collapse in petroleum prices, the whole of this sector has lost most of its profitability, if not running with loss. That means that the Norwegian society no longer has enough income to make the society running and Norway and Norwegian citizens are actually heading towards powerty. Because the Norwegian government has a great buffer capital, this happens somewhat slowly so people living in Norway do not yet fully apprehend the full extent of the catastrophy, but within some months they will.
