Norwegian Says “Share The Wealth” Of Potential Oil industry - The Reykjavik Grapevine

Norwegian Says “Share The Wealth” Of Potential Oil industry

Published April 8, 2013

A Norwegian investigative journalist specializing in the energy industry has issued a word of advice to Iceland: make sure the public benefits from any oil industry that may be established, RÚV reports.

Harald Birkevold, who was in Iceland taking part in an investigative journalism conference, has said that if Icelanders were to find oil in the ‘Dragon Area’ – a stretch of the seabed in the northeast of Iceland’s territorial waters that is thought to contain oil – that it will have a natural impact on the economy and could result in corruption. 

He stresses that it is, therefore, important for the government to show prudence to ensure that any profit made from the oil industry will be shared, distributed, and disposed of in accordance with the law and the will of parliament and the nation.

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