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This is possible for them because they have saved their oil profits and turned it into a $1 trillion sovereign wealth fund: https://en.wikipedia.org/wiki/Gover

• Tor3 8y ago
  It's not only that. Consider that the fish export of Norway is huge, compared to almost everything else (although oil is still in its own division). More importantly, export of fish from the area discussed has been going on for more than a millenium and can likely continue for another, or more. Unless a disaster happens, and one would be a huge oilspill in the middle of that area, which could destroy the fisheries for generations. Compare that to just a few decades of oil, and the latter doesn't look so important (economically) anymore. This part is what concern those who are against oil drilling there, even those who are not particularly concerned about CO2.
• jwr 8y ago
  Yes. On the other hand, other countries with oil have not saved their oil profits, choosing to spend them on a massive military (US) or trivia (Saudi Arabia building fancy cities in the desert). There are lessons to be learned here, perhaps?
  • randcraw 8y ago
    Alas, America doesn't believe in learning from its mistakes.
    • village-idiot 8y ago
      Or anyone else’s for that matter.