homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

February 25, 2015

Plunging oil prices shake up Norwegians

  • One big positive is that Norway saved $860 billion during the good years to protect against having to make sharp and traumatic cuts to welfare spending.
    • By MARK LEWIS
    Associated Press

    STAVANGER, Norway — Losing his job on a Norwegian oil rig meant more to Kristoffer Sandberg than saying goodbye to a high salary. It has caused a shift down in lifestyle and expectations, something an increasing number of people in this small oil-rich country are facing.

    After a decade of an oil-and-gas boom, plunging energy prices are shaking Norwegians out of a Utopian reverie that guaranteed workers lengthy summer vacations, generous health and social benefits, and allowed them to leave work at 4 p.m. and even earlier on Fridays.


     
    . . .


    To read this story in full login or purchase a subscription.



    
    Email or user name:
    Password:
     
    Forgot password? Click here.