 In 1990 the forward thinking Norwegian government established the Government Pension Fund of Norway (also known as the Oil Fund) to invest the surplus revenues of the Norwegian petroleum sector. The purpose of the fund is to invest parts of the large surplus generated by the Norwegian petroleum sector, mainly from taxes of petroleum companies but also payment for licenses to explore for oil as well as the State’s Direct Financial Interest and dividends from the partly state-owned Equinor. Current revenue from the petroleum sector is estimated to be at its peak and is envisaged to decline in the future decades. The Oil Fund was established to counter the effects of the forthcoming decline in income, as the oil reserves eventually run out completely, and to smooth out the disruptive effects of highly fluctuating oil prices.
 The Dutch East India Co. was the world’s first corporate powerhouse and laid the foundations for the modern multinational corporations of today. However, they are often remembered for trading away New York City. In 1667 the Dutch, whom at the time had occupied New Amsterdam (now New York), conceded the island of Manhattan (now New York) to the English in return for the tiny island of Run in the Banda Islands of the Moluccas Indonesia. The English promptly changed the name from New Amsterdam to New York. Why did they make this trade? Firstly, some background on the Dutch East India Co.
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AuthorDallas Davison, Michael Hogue and Ali Hogue. Archives
October 2020
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