Business: Unhappy Nordic Boom

As oil profits continue to gush into the Persian Gulf nations, other governments, too, are beginning to make money from the stepped-up quest for oil. In the North Sea, explorations have so far turned up more than 20 billion bbl. of proven reserves, nearly 4% of the world total. Norway alone has proven reserves of about 6 billion bbl., and experts believe that the potential is at least twice that amount. Surprisingly, though, Norway is approaching its new riches with Scandinavian solemnity. Government planners predict that by 1981, oil output will pump more than $2.7 billion in yearly revenues into...

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