January 31, 2008: The Dutch Disease

The Netherlands found oil in the 1970´s. It became a case of “what not to do”.

Can now Canada learn something?

It seems a good example comes from Norway.

I would like to know if Venezuela or Brazil can take the lesson and learn from it…

Read this article from my favorite Canadian newspaper: The Globe and Mail.

An abstract:

Frugal Norway saves for life after the boom

DOUG SAUNDERS

From Thursday’s Globe and Mail

January 31, 2008 at 12:00 AM EST

STAVANGER, NORWAY — To stroll along the harbour of this pretty town on Norway’s North Sea Coast is to follow the history of an economic explosion. To the south, the old wooden canneries are still processing herring and cod, the commodities that until a few decades ago were the mainstays of Norway’s poor, austere economy.

Across the harbour, the constant movement of enormous cranes and construction ships is evidence of the great North Sea oil boom that has turned Stavanger into a high-rent boomtown and Norway into one of the world’s wealthiest nations. The streets of this fishing town are now lined with luxury-goods shops and packed with highly paid foreign workers.

But further from shore, you will find a third economy, a more surprising one that has nothing to do with oil or fish. In one big building just outside of town, a local firm called HighComp is turning out 10-metre-wide housings for huge wind-turbine generators.

“We’re doing our best business in parts of the economy that have nothing to do with oil or fish being pulled from the sea,” said owner Helge Rasmussen, 34. His plastics firm’s wind-power division built $4-million worth of housings last year and has completed deals across Scandinavia and northern Europe.

Full article:

http://www.theglobeandmail.com/servlet/story/RTGAM.20080130.w-OS-main-31/BNSt…

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