Stavanger, Norway

July 12, 2022

Stavanger is home to one of Europes most interesting Old Towns. The cobblestone streets are lined with the continent’s highest concentration of wooden buildings that date back to the 17th and 18th centuries. Over 250 surround the harbor area.

Stavanger is Norway’s 4th largest city with population of 140,000 people. It is also the home of the oil boom, which changed the entire economics of Norway. Norway was one of the poorest countries in Europe before oil was discovered in August of 1969. Since then, it is now one of the richest countries in Europe. As a result of the oil business, Norway has become a welfare state where proceeds from oil are invested into a pension fund to support people in retirement. Oil accounts for 40% of exports and is 20% of their economy. Norwegians have free healthcare, and full pensions for every person, with a payout of 80% of your average lifetime wage. Definitely, better than our Social Security payout. Although, they are still taxed on these earnings beginning at around 22%, or higher depending on your income.

We visited the oil museum at the end of our tour and learned about oil drilling. They were also exhibiting prehistoric dinosaurs as a special event.