'Get ready for Operation Norwegian Freedom!'
Opening an oil bourse is becoming rather fashionable these days. The Prudent Investor reports on Norway's plans to open an oil bourse to compete with London's International Petroleum Exchange. It's decisive marketing edge?
According to an article at NRK.no that was translated by energybulletin.net Bourse director Sven Arild Andersen said already in December that it would be advantageous to trade oil in Euros.Would you look at that! What's a fascist oil hungry corpocracy to do with all these pesky countries trying to get their grubby little hands into the global oil/currency trough at once?
"Why not have the ambition to outcompete the British petroleum bourse," says Sven Arild Andersen.Oh man!
"Here, you could trade crude oil, natural gas contracts and establish derivatives for these products."
"In addition, we must set up a larger financial industry around this, as important in other large markets and employ many people. And which are important for the competencies that are needed beyond the extraction itself of oil and gas," . . .
Andersen in [sic] of the opinion that Norwegian oil must be traded in Euros, which can be advantageous for international customers.
"We have performed market studies and both Russia, which is a large oil exporter, as well as the countries of the Middle East have large parts of their economies in Euros. They would be able to view such a bourse as a contribution to balancing their economies in a better manner than at present, where their products are traded solely in dollars."
[L]ooks like Norway needs a little taste of democracy, Neocon style. Get ready for Operation Norwegian Freedom! --Steve, a reader at The Prudent InvestorIs Steve over-reacting? Maybe. Maybe not.
But, it sure changes how you interpret news that affects Norway.
It's good to know that so many exciting things are happening around the globe. 2006 just keeps getting better!