They are a democratic government, so their policy and decision making should be open. Thought has nothing to do with it, however, they make the announcement to

They are a democratic government, so their policy and decision making should be open. Thought has nothing to do with it, however, they make the announcement today, some investors freak out and sell, and a bunch of others get a bargain. Meanwhile, each year, oil consumption continues to increase by 1.5 million barrels of oil a day. Then Norway begins to diversify their holdings over many years as they probably should have done already, but now at a fair price because everyone now knows this is going to happen, so it is "priced in". This story is the exact reason why most everyone should ignore this financial news nonsense. This is an opportunity to buy oil companies at a discount, but this story makes it sound as though it is time to start selling off petroleum stocks. It is also a reminder that your portfolio needs to be diversified, you don't know what is going to happen tomorrow.