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Nordic oil economy
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Norway is a country that has tax laws that have been implemented on the companies that extract oil from their land. Norway uses a government based oil company called Statoil, alongside other companies, to extract the resource. They retain sixty-seven percent shares of that company and the rest are publicly owned. This company benefits Norway as a whole country. Norway owns shares in other companies bringing their total to about eighty percent of all oil in Norway. So why have taxes not been implemented on the oil companies in Canada to benefit Canada as a nation, instead of sole individuals, companies and foreigners.
The first request to explore the continental shelf in The North Sea was sent to the Norwegian Government by Philips Petroleum in October of 1962. He offered one hundred and sixty thousand dollars per month for the exclusive rights to the exploration and development of Norwegian territory and the Norwegian Continental Shelf. For the Norwegian authorities they saw this as an attempt to bribe and disclosed that if the shelf were to be explored it would be open to many companies not just one.
In 1963 the Norwegian Government proclaimed sovereignty over the Norwegian Continental Shelf in the North Sea and said that the state owns any natural resources within the shelf. The Government was the only one allowed to grant licenses for exploration and production. 1963 was the first year that the shelf was to be explored but no drilling was allowed.
In 1965 the official borders of the North Continental Shelf were divided between, Great Britain, Denmark and Norway.
“First licensing round was announced on 13 April 1965. 22 production licenses for a total of 78 blocks were awarded to oil companies or groups of companies. The prod...
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...Whys-Alberta-in-Hock/ http://www.regjeringen.no/en/dep/fin/Selected-topics/taxes-and-duties/Act-of-13-June-1975-No-35-relating-to-th.html?id=497635 http://thetyee.ca/Opinion/2013/06/04/Oil-Sands-Tax/ http://www.thestar.com/opinion/editorials/2013/01/16/alberta_should_learn_from_norway_on_managing_oil.html http://en.wikipedia.org/wiki/Statoil http://www.regjeringen.no/en/dep/oed/Subject/oil-and-gas/norways-oil-history-in-5-minutes.html?id=440538 http://en.wikipedia.org/wiki/Leduc_No._1#CITEREFMacGregor1972 http://www.statoil.com/en/About/History/Pages/default3.aspx http://www.statoil.com/en/environmentsociety/sustainabilityapproach/pages/climatechange.aspx http://www.vancouverobserver.com/blogs/climatesnapshot/climate-pollution-140-nations-vs-albertas-tar-sands http://en.wikipedia.org/wiki/Economy_of_Norway
http://www.goodreads.com/author/quotes/367338.Nelson_Mandela
Drilling for oil in Alaska will cause the environment and animals to suffer. Oil drilling in Alaska started in 1980 when America found itself in an oil crisis. So a solution for this crisis was to start drilling for oil in other locations. The largest oil field in North America was in Prudhoe Bay on the north coast of Alaska. Prudhoe Bay would soon account for 20% of all domestic U.S. oil production. Despite the oil crisis in 1980, Congress formed a wildlife reserve just east of Prudhoe Bay. it was called The Arctic National Wildlife Refuge(ANWR). Document A.
A complex collection of more than 1800 separate islands forms the Canadian Archipelago and Canada’s Arctic territory. 1 Within recent history the arctic has gained popular attention from governments both domestically and internationally. The rise in global climate temperatures accounts for longer, ice free Arctic summers, higher levels of resource exploration and development, and less challenges to access in the Arctic. Canadian sovereignty over Arctic lands and islands is undisputed with the single exception of Hans Island, a 1.3 square kilometer island claimed by Denmark.2 Currently what is disputed is the Canadian assertion of sovereignty over the Northwest Passage waterway. The passage which would facilitate international shipping through the sovereign Canadian archipelago island system, links the Atlantic Ocean with the Pacific Ocean. Its widest and deepest course would take the Northwest passage from “Lancaster Sound through Barrow Straight into Viscount Melville Sound an onwards through M’Clure Straight and into the Beaufort Sea.”3 Historically Arctic ice made this route impossible to cross, but rising temperatures are changing that. The government of Canada believes that the Northwest Passage is situated within internal Canadian waterers, thereby falling under Canadian sovereign jurisdiction, subject to Canadian domestic laws. With the possibility of the passage becoming a international shipping rout, many countries including the United States do not agree with this claim. They suggest the Northwest passage should be an international straight subject to the International Law and the doctrine of transit passage.4
...ther through income tax or GST, as they are all ultimate benefactors of socially optimal policy. Thus, the tax would be reinvested in benefiting Canadians.
During 1850’s Russia was very low on money and needed to sell land in order to get some money back. Russia first offered in 1859, but we were in the middle of a war so we didn’t want it. In 1867, Russia offered again and we accepted shortly after. Alaska was bought for 7.2 million dollars, that’s about two cents per ac...
In 1863 the Danish king tried to annex Schleswig, which has been a duchy of Denmark along with Holstein for some time. Since the Danish king was duke of Schleswig he was not supposed to annex it. As a result of his actions...
The Ocean Ranger was an offshore exploration oil drilling platform that sank in Canadian waters 315 kilometres southeast from St. John's Newfoundland, on the Grand Banks of Newfoundland on February 15, 1982, with 84 crewmembers onboard. The Ocean Ranger was the largest semi-submersible, offshore exploration, oil drilling platform of the day. Built in 1976 by Japan's Mitsubishi Heavy Industries, it operated off the coasts of Alaska, New Jersey, Ireland, and in November 1980 moved to the Grand Banks. Since it was so big it was considered to have the ability to drill in areas too dangerous for other rigs. The government thought it was unsinkable, so they felt that there was no need to train a crew very well.
The Scottish National Party (SNP) was founded In 1934 and In 1960 was found oil in the North Sea, what changed the Scottish public opinion about the Union as the main cause to join it was economical; having oil would suppose economical independence from England.
Canada as a country has a lot going for it. A high GNP, and high per capita income in international terms.... ... middle of paper ... ... With all the focus being on becoming a sovereign nation, the citizens are suffering.
The Debate Over the Idea of Drilling for Oil in the Arctic National Wildlife Refuge
Strait and Ungava Bay; on the east by Labrador (Which is a part of Newfoundland),
Cod stock analysis showed that until the 60’s fish landings had never surpassed 300 tons, however by this time more and more foreign fleets had been starting to arrive in the Northwest Atlantic area to catch cod. One reason of this heavily growth in the landings, according to Higgins (2009), was the fact that fishing technology rapidly evolved. The striking growth of factory-freezers trawlers, which could stay for months on the sea storing hundreds of tons of fish on-board, is an example of this fishing evolution. In 1968, an historical catch records that 810 tons of cod was landed, more than twice times the amount of early 60’s. Atlanti...
"United States Oil - Exports - Economy." Index Mundi - Country Facts. Web. 26 May 2011. .
In the 1870’s, J. D. Rockefeller’s Standard Oil Company was established as a monopoly in the petroleum refining industry in the United States. How he managed to achieve this has always been an economic puzzle because the refining industry, at that time, had many small firms. Moreover, there were minimal barriers to entry into the industry. By 1879, Rockefeller was in control of more than 90 percent of the US’s refining capacity and “maintained a dominant share of refining, in spite of the fact that entry into refining remained easy” (Granitz and Klein 1996, p. 2). Over time, there have been many efforts to explain the Company’s growth; the most sophisticated economic discussion of the monopoly creation is by Elizabeth Granitz and Benjamin Klein in their 1996 article. In 2012, George Priest from Yale University offered an alternative theory for the success of Standard’s refining monopoly. This paper will provide a critical summary of the key issues raised in both the articles.
I will be presenting the first affirmative of today’s debate. The United Stated federal government should substantially increase its non-military exploration and/or development of the Earth’s oceans. Before I go further I would like to define the key terms of today’s debate. The United States federal government is defined as the system of government in the Constitution which is based on the separation of powers among three branches: the executive, the legislative and the judicial. The ocean is defined as the whole body of salt water that covers nearly three fourths of the surface of the earth. To increase means to become larger in amount or number. Nonmilitary means not belonging to, characteristic of, or involving the armed forces. Exploration
In the 16th century, the arrival of John Cabot and later, Sir Humphrey Gilbert defined the initial attempts to colonize England, but with failing results due to a highly inhospitable environment for fisherman and their families. However, many temporary fishing settlements provide contractual work for fisherman from, differing ethnic backgrounds, such as English, French, Spanish, Basque, and of course, the Irish that dominated the fishing industry in the late 1`8th century. The major conflicts between the French (in the north and south of the island) and the British (in the east) defined the majority of fishing settlement activity, which would eventually bring small permanent settlements in the 17th and 18th centuries. Certainly, the Treaty of Utrecht in 1713 marked a time in which the British were able to oust the French colonial government in Newfoundland, which set the stage for an expansive Anglophile dominance over the fishing trade. However, the fishing admiralty allowed Irish fisherman to permanently settle in the case of Thomas Nash, since the Irish were not British citizens and did not have to serve in the navy. This multi-ethnic history defines the unstable nature of permanent settlements, which allowed people from many differing nations to interact, and, in some cases, to