You know Norway is an oil producer too, so may be Statoil is also interested in participating. I do not know anything about that and that is their and not my business.

When I talk to my children that think that Norway will get richer and richer I say this (with this iTulip.com - Know Your Mania story in my backhead).

1. There is most probably a bubble in oil prices. Nobody knows when a fiancial bubble burst aside from Robert J. Shiller (Irrational Exuberance) / Dider Sornette (Stock market crashes are predictable). As far as I know, professor Shiller timed the march 2000 correction exactly.
2. I remember when oil was less than USD 10 a barrel. When the bubble burst, the price may drop to USD 1 a barrel in the most extreme case. The green revolution seems to take a quantumn leap. Wind energy in Denamark and Spain is now a very important energy source. Germany is in the lead on solar energy, and that energy is my private favourite.
3. As economists we know that prices are set at the margin. The combination of a small recession (weak demand and growth) and increased and acellerated use of alternative energy can start the decline (bubble burst) in oil prices. Note that the United Arab Emirates and other oil producing countries in that region are investing heavily in renewable energy. China is picking up. What surprises me, even if there are green projects in your cites like Chichago, is that USA is lagging in this sector while you are among the leaders in the digital and other industries. (Is the reason that you have a president from the "oil state", Texas?).

That may be a strong argument for modernising the Iraqy oil fields and letting foreign companies with their modern energy in. Hopefully most of the revenue go tho the Iraqy people that has suffered enough.

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Kjell Gunnar Bleivik:: Financial information at your fingertips
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