Trains, Banks and Public/Private Ownership - Prev.Predict UK Gen.Election Result

[Admiral Yi]

All states charge royalties for resource extraction.  Norway is no different in that regard.  The fact that the extraction is performed in Norway by a state-owned company has nothing to do with the royalties charged or with the use to which those royalties are put.

Statoil is not a "royalty extraction" organ. They're a fully integrated multinational oil corporation with operations in 36 countries, and was built into such on the foundation of a nationally owned oil company.

I didn't say Statoil was a royalty extraction organ.  There's no such thing.  They're a resource extraction company.

[Valmy]

I wish Norway would do some royal extraction.

[Jacob]

I didn't say Statoil was a royalty extraction organ.  There's no such thing.  They're a resource extraction company.

Ok.

Not sure what your point is?

[Admiral Yi]

Ok.

Not sure what your point is?

Tamas: state owned companies suck.

Jacob: Statoil in Norway created great wealth.

Yi: That wealth was a function of finding oil, not having it drilled by a state owned company.

Jacob: Because it was drilled by a state owned company, Norway set up a sovereign wealth fund.

Yi: those two have nothing to do with each other.  Norway gets the royalties regardless of who drills it.  Those royalties are what go into the fund.

[Jacob]

Tamas: state owned companies suck.

Jacob: Statoil in Norway created great wealth.

Yi: That wealth was a function of finding oil, not having it drilled by a state owned company.

Jacob: Because it was drilled by a state owned company, Norway set up a sovereign wealth fund.

Yi: those two have nothing to do with each other.  Norway gets the royalties regardless of who drills it.  Those royalties are what go into the fund.

Ah I see. I didn't make - or at least intend to make - the first point you ascribe to me. My point was "Statoil managed the resource riches well to the benefit of the nation rather than squirrelling it away to the benefit of a few oligarchs or major capitalists" rather than "Statoil created the wealth".

[Admiral Yi]

Ah I see. I didn't make - or at least intend to make - the first point you ascribe to me. My point was "Statoil managed the resource riches well to the benefit of the nation rather than squirrelling it away to the benefit of a few oligarchs or major capitalists" rather than "Statoil created the wealth".

You seem not to be picking up the point I've tried to make about three times.  All countries that sit on oil (or any extractable resource) charge royalties to the companies that drill it and sell it.  That doesn't change whether it's drilled by Statoil or Exxon-Mobil.  Those royalties are what have gone into the Norwegian sovereign wealth fund.  Statoil doesn't manage this fund.  The existence of a Norwegian state owned oil company doesn't affect the existence of that fund.  There is no relationship.

[HVC]

All Oil companies pay royalties, so Norway would get that anyway, but by owning the company doesn't Norway also get 67% of the profits (or dividends, or however they pay out) rather than some oligarch? isn't that the main difference that Jacob is getting at? It's a successful company paying out to the people rather that an already rich guy.

[Jacob]

All Oil companies pay royalties, so Norway would get that anyway, but by owning the company doesn't Norway also get 67% of the profits (or dividends, or however they pay out) rather than some oligarch? isn't that the main difference that Jacob is getting at? It's a successful company paying out to the people rather that an already rich guy.

Yes. That and the fact that the oil company is well managed rather than being a shower of inefficiency, as publicly owned assets are often claimed to be.

[Valmy]

Scandinavians seem to run their programs in a technocratic way. Most of the world gets caught up in populism and patronage and seems to lose sight of the primary function of these public entities.

[The Brain]

Scandinavians are retards compared to the Finns.

[Valmy]

Scandinavians are retards compared to the Finns.

Hey I am sure they are they just seem to be marginally less corrupt and retarded than everybody else.

[Josquius]

The train services around and into London are private ones. 

The ones that are widely regarded as being good are ran by TFL.
Southern Rail is probably the provider I've heard the most bad things about.

But then you aren't really talking trains. TfL mostly runs the underground and overground systems.  There is one 'TfL Rail' but that only covers part of east London and I've never heard much of anything about it.

I can't say I've ever taken the overground but isn't the entire point of it that it's (much of) London's suburban train services brought under TFL?

TFL Rail is what they're calling the first part of Crossrail they've opened.

[mongers]

Well I think the discussion about predicting the results are over and it's now OffT'ed to well rehearsed private vs public ownership/operation theme, so could a mod remind me how to close the thread. And maybe some one can split off or start a thread for that idealogical discussion?

[Admiral Yi]

Granny.

[fromtia]

Well I think the discussion about predicting the results are over and it's now OffT'ed to well rehearsed private vs public ownership/operation theme, so could a mod remind me how to close the thread. And maybe some one can split off or start a thread for that idealogical discussion?

No it hasn't. I noticed some genius voted for "minority conservative government" yesterday. Keep the thread up its a powerful telescope into future political developments apparently.