Abstract
Gjerde, G. Norwegian Petroleum Policy: Factors of Importance when Deciding the Extraction Rate. Cooperation and Conflict, XVII, 1982, 95-103. Petroleum revenues have to a great extent been channelled into the Norwegian economy in the late 1970's. The recent fall in oil prices shows how exposed the Government is with respect to the disappearance of petroleum revenue. A strategy for the long-term production and use of petroleum revenue is required. To disconnect the use of petroleum revenues from the level of production of petroleum is important, so providing a strategy for risk-hedging, allowing the Government to use part of petroleum revenues to build up future-oriented export industries. Export of capital to offset decline in revenue is another risk-reducing measure as is internationalization of Norwegian industry. Problems in initiating such a policy are touched upon.
Published Version
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