Re: French politics

In article <EsM2i.453$C96.242@xxxxxxxxxxxxxxxxxxxxxxxxxx>,
notthisjoergsch@xxxxxxxxxxxxxxxxxxxxx says...
krw wrote:

In article <1179143026.339156@xxxxxxxxxxxxxxxxxxxxxxx>,
ian_bucknerNOT@xxxxxxxxxxx says...

"James Arthur" <dagmargoodboat@xxxxxxxxx> wrote in message
news:1179005107.206967.20770@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Plus natural gas. That's most likely the bulk in the $63.40
GDP/person/hour for Norway.

1.3 gigabarrels exported per annum, divided by 4.6 megapeeps, works
out to $12,400 per capita, assuming $45 oil.

2004 natural gas exports were 74.4 x10^9 m^3, whatever that's worth.

Cheers,
James Arthur


One thing they have done with the surplus from the oil and gas revenues
is to build up a huge state pension fund, which I believe is now so large
that not only is the state pension fully funded, but the income from the
investments is sufficient to cover all future needs with no more cash
injection.


Um, that's redundant. "Fully funded" implies that no more cash needs
to be dumped in. Where are these funds invested? I don't like the
idea of government investing in the private sector.


It's done all the time. Look at CalPERS, the California fund for state
employees. They are probably one of the biggest financial behemoths this
side of the Klondike. And they have begun to twist some arms in the
board rooms so things are done their way or else...

Yes, and CalPERS is scary too. Any time an entity that has the power
of law owns (a share of) businesses it's a bad thing. There is a
severe conflict of interest there.

--
Keith
.

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