Paul Cleary > Quotes

“What struck Al-Kasim most about his adoptive country of Norway was that most of his colleagues and other people he met were quite fearful rather than excited about the prospect of discovering oil. Norwegians knew from the outset that oil could have disastrous consequences both for the economy and society as a whole. And when oil was discovered they became even more fearful. ‘The country feared the social and economic consequences of an oil boom. The Groningen gas field had ruined the Dutch economy. Norway was aware of that; it had quite justified fears. And with the oil discovery Norwegians feared they’d be over-run by Texan oil workers who would be chewing gum, looking for girls and bringing prostitutes into the country,’ he explains.50”
― Paul Cleary, Trillion Dollar Baby: How Norway Beat the Oil Giants and Won a Lasting Fortune

“Even though conservatives are traditionally great advocates of lower taxes, Norway’s conservatives agreed with the higher rate and refrained from political opportunism. This is remarkably different to what has transpired in many other countries, where oil companies have been able to win support by dividing and conquering the political class.”
― Paul Cleary, Trillion Dollar Baby: How Norway Beat the Oil Giants and Won a Lasting Fortune