IDEAS home Printed from https://ideas.repec.org/h/spr/nrmchp/978-3-030-74107-5_2.html
   My bibliography  Save this book chapter

Natural Resource Sustainability

In: Norway’s Sovereign Wealth Fund

Author

Listed:
  • Ole Bjørn Røste

    (Norwegian University of Science and Technology)

Abstract

Deposits of hydrocarbons are a specific type of non-renewable natural resources. Once developed and sold, they are gone. They can be left alone for prospective future development or extracted and converted into financial assets. The more easily extractable parts are developed early. Over time, technological development increases the volume of that category. Oil resource are ‘free’, and extraction highly profitable. An oil industry may thus attract significant resources. Positive income shocks evolve in good times, with needs to save for the future. In Norway, the state has mended individual savings failure through removing income from current budgets and investing it systematically long-term. Throughout the oil age there has been significant savings and investment, till 1998 in domestic infrastructure through public budgets, and later internationally through a large SWF. With erratic hydrocarbon prices, it was risk-reducing not to leave more hydrocarbons untouched. This is underscored both by high investment returns and recent indications of fossil fuel non-sustainability.

Suggested Citation

  • Ole Bjørn Røste, 2021. "Natural Resource Sustainability," Natural Resource Management and Policy, in: Norway’s Sovereign Wealth Fund, chapter 0, pages 19-71, Springer.
    • Handle: RePEc:spr:nrmchp:978-3-030-74107-5_2
    DOI: 10.1007/978-3-030-74107-5_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:nrmchp:978-3-030-74107-5_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.