Håkon Knudsen Toven

Samfunnskontakt hos @OffshoreNorge og sekretariatsleder for

[Jack Prandelli @jackprandelli]

Norway and the UK drilled the same North Sea.

🇳🇴Norway got $2 trillion.
🇬🇧The UK got tax cuts.

Same basin,Same era.... Completely different outcomes.

Norway captured $30 per barrel in government revenue. The UK captured $11.

That gap, compounded over 50 years of production, is the entire difference.

Norway's model was simple: tax heavily (78% marginal rate), take direct equity stakes in fields via the SDFI, own part of Equinor, and put everything surplus into a fund invested abroad.

The Government Pension Fund Global now holds over $2 trillion in assets.
That's $390,000 per Norwegian citizen about 1.5% of all listed equities on earth.

The fiscal rule: only spend the 3% annual real return. Never touch the principal.

The UK started producing earlier, at lower prices, with a lower tax rate (40%) and no saving mechanism.

North Sea revenues flowed straight into the general budget.

Economists estimate the UK missed out on roughly £400 billion compared to a Norwegian style regime.

The windfall largely financed tax cuts in the 1980s rather than a fund.

Where things stand in 2026?

Norway's petroleum sector will generate $63 bn in net cash flow this year alone feeding a fund already large enough to cover 10-15% of the national budget from returns alone.

The UK is a net energy importer.
Since 2021 it has paid countries like Norway more than £100 billion for gas.

One country treated oil as a finite resource to convert into permanent financial wealth.

The other treated it as income.

image source:eia

[Jack Collins @jackjcollins]

Bodø/Glimt are a joke - the interchanges, the movement, the third man runs. An absolute delight to watch in pretty much every way. A bit obsessed if I’m honest.

[Håkon Knudsen Toven @Knuds8]

Stortinget vil i all sin visdom "frigjøre" 350 MW fra Melkøya og sende krafta videre til de neste prosjektene i Statsnetts kapasitetskø, som stort sett er prosjekter utenfor Finnmark. Finnmarks kinderegg blir uendret strømpris, 700 færre arbeidsplasser og nedlagt industri.

[Håkon Knudsen Toven @Knuds8]

@stevesaetermo Nei. De 350 MW med kraft som Equinor skulle få vil gå videre til de neste prosjektene i Statnetts kapasitetskø. Så de "frigjorte" 350 MW med kraft blir ikke frigjort, men bare brukt av noen andre. Strømprisen forblir uendret.

[Håkon Knudsen Toven @Knuds8]

Det kreves en helt egen form for logikk når man argumenterer for at strømprisen blir lavere om man tar kraften (350 MW) fra Melkøya (Equinor) for at Statnett skal omdisponere den til andre næringsaktører i Finnmark.

[Pepsigro @PepsiGro]

Utrolig at FrP bidrar til denne galskapen. Om man ønsker å skape et attraktivt land å investere i må man honorere avtaler. Nord Norge/Sverige renner forøvrig over av kraft. https://t.co/cEvVj5n2ko

[Torbjørn Giæver Eriksen @tgeriksen]

Det er positive signaler at et flertall ber regjeringen legge til rette for 26. konsesjonsrunde. Fremover vil produksjonen fra norsk sokkel falle. Tilgang på attraktivt areal og videre leting er derfor viktig for å bremse den naturlige nedgangen i produksjon 👏👏👏

[Håkon Knudsen Toven @Knuds8]

It is hard to fathom that the party of Nixon, Reagan and Eisenhower has reduced itself to a submissive little errand boy for Russia.

[Jonas Gahr Støre @jonasgahrstore]

We stand by Ukraine in their fair struggle for a just and lasting peace.

🇺🇦🇳🇴

[Protect Kamala Harris ✊ @DisavowTrump20]

RETWEET if you stand with President Zelensky!

[David Axelrod @davidaxelrod]

I love my country with all my heart and I've never been more embarrassed for America than the spectacle I just witnessed in the Oval Office.
Zelensky is fighting for the survival of his country, his people and their democracy.
Trump and Vance appear to be completely aligned with Putin, the invader whose aim has been to conquer Ukraine.
Zelensky should know that millions and millions of Americans still stand with him and his valiant people.

[Håkon Knudsen Toven @Knuds8]

@dechamblow @TheFFBallers Hard yes!

[Håkon Knudsen Toven @Knuds8]

Statens netto kontantstrøm fra olje og gass er på 680 mrd NOK. 9 av 10 kroner fra olje- og gassnæringen går tilbake til staten. Det er ikke mangel på avgifter i Norge som hemmer internasjonale klimatiltak #dax18

[Håkon Knudsen Toven @Knuds8]

Tenk. Per Mathias hadde Markus Henriksen på topp, og han tok oss nesten til både EM og VM.

[h @htomufc]

No way this Norway team isn’t at least decent… They’ve won 1 in 6, how man?

[Einar Tørnquist @EinarTornquist]

Etter fem strake tap mot Slovenia, Hellas, Luxemburg, Armenia og Aserbajdsjan var det deilig å få tilbake godfølelsen mot Norge.

[Håkon Knudsen Toven @Knuds8]

Om du under 1500-meteren i morgen skulle skulle lure på hvor fort Jakob Ingebrigsten egentlig løper: Markus Rooth, olympisk mester i tikamp, løp 1500 på 4.39. Det er over ett minutt bak Jakob, på 1500(!) meter.

[Håkon Knudsen Toven @Knuds8]

OK, let me see if I get this straight: The @GOP are actually criticising @TheDemocrats for not speaking up and taking action sooner against their old and unfit-to-rule presidential nominee? Gotcha👌

[Republicans against Trump @RpsAgainstTrump]

Nikki Haley (in January): “The first party to retire its 80-year-old candidate is going to be the one who wins this election."

[Håkon Knudsen Toven @Knuds8]

Blir godt å bli ferdig med denne landslagspausen nå #EURo2024

[Håkon Knudsen Toven @Knuds8]

After years of Brexit, Boris Johnson and that cabbage lady, bland Keir Starmer might not be the worst idea in the world #GE24