History of Norway company by 1985, just to go bankrupt by 1993. Unemployment reached record-high levels in the early 1990s. By 1990 Norway was Europe's largest oil producer and by 1995 it was the world's second-largest oil exporter. Membership in the European Union was rejected in a 1994 referendum, with Norway instead joining the European Economic Area and later also the Schengen Area. Large public investments in the 1990s were a new National Hospital and Oslo Airport, Gardermoen—connected to the capital with Norway's first high-speed railway, the Gardermoen Line. A number of large government companies, such as Statoil, Telenor and Kongsberg were privatized.
Western Norway winter, and the rainfall is frequent and heavy. Thanks to the warming Gulf Stream, the Norwegian fjords enjoy a relatively mild climate and remain virtually ice-free even during the winter. During springtime the most amazing colours burst forth to honour the warmth of the rising sun. Orchards of flowering fruit trees along the Hardangerfjord in May are images of paradise. Western Norway is a very rich region. The region generates around 70% of the total Gross National Product of Norway—Europe's richest country. Today is Stavanger the capital of oil in Norway. Before petroleum, fishing and agriculture were the most important