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Norway's oil strike forced to end
EFL: The Norwegian government has intervened in an industrial dispute that had threatened to halt oil production. The risk that a week long strike would escalate with a lock-out on Monday spurred the government to act. The government had been very aware that failure to act would have caused a large chunk of supplies to be cut off from the world's oil market, oil prices would have spiked and Norway's reputation as a responsible player would have been damaged. The oil industry is vital to Norway, accounting for almost half its exports and about a fifth of its economic output. Norway is the third largest oil exporter after Saudi Arabia and Russia and is set to become the second largest gas exporter after Russia. Posted by: Steve 2004-06-25 |
| http://www.rantburg.com/poparticle.php?ID=36402 |