The ignition of the Faroese oil dream came in September 1992 when the Faroese Prime Minister Atli P. Dam returned to the Faroe Islands from a negotiation with the Danish Government and the Danish Prime Minister Poul Schlüter with an agreement stating that the subsoil and potential resources would transfer from Danish to Faroese affairs. Today, 28 years later and after nine oil exploration drillings in the Faroese offshore subsoil, oil in commercial quantities for further development and production is yet to be found. However, the oil dream has affected the Faroese society where great socioeconomic changes have occurred. This article tells the story about the dream that changed the Faroe Islands. The article arrives at a conclusion and a discussion of how this dream fits into the contemporary expectations of the future.
|Translated title of the contribution||Dreams about Oil on the Faroe Islands|
|Journal||Økonomi og Politik|
|Number of pages||12|
|Publication status||Published - Dec 2020|