Norway : Current Issues Of Norway

1304 Words6 Pages
Morgan Schadel

Claire Pavlik

Global Economy

3/27/15

Norway: Current Issues

Every country faces their own issues or challenges. It may be an economic issue, a social issue, or an environmental issue. Some countries have bigger challenges than other countries. Norway has a bigger challenges environmentally and economically but not so much socially. As we learned from the previous paper, Norway is very important for their oil. There are several countries that depend on Norway for their oil. Oil may become a problem someday for Norway. Some countries have been dealing with acid rain, which is not a good thing. Norway is one of those countries. A social issue that Norway has is immigrants coming to country.

Economic Issues-Oil Price Decreasing:

Norway has encountered an problem with the oil price decreasing. It is decreasing dramatically and a lot faster than Norway thought it was going to. The price of oil has decreased about 40 percent since July, 2014. This will start to affect countries that are part of the OPEC, which stands for Organization of Petroleum Exporting Countries. This will also affect other countries that gets their oil from Norway. Norway is not part of the OPEC. Although Norway is not a member of the OPEC, "Norway is thus vulnerable to the volatility in oil pricing, and with regard to the structure of the sector and its role in the Norwegian economy, this vulnerability is extended throughout the society as a whole." (Buvarp, Paul).
Open Document