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The beauty of the Norwegian oil fund is that it isn't invested in oil. The fund grows from oil revenue, but it invests in all sorts of things that are specific
by atq2119 7y ago
The beauty of the Norwegian oil fund is that it isn't invested in oil.
The fund grows from oil revenue, but it invests in all sorts of things that are specifically not oil. So there's not much conflict regarding oil divestment.
- fulafel 7y agoI agree that the fund's diversification helps some. But the fund is still fed from the oil income. And some of the oil income is spent in state budget, not all of it goes into the fund. And this is in addition to all the money being pumped into the economy from the oil industry (Norway has high wages, most Teslas per capita, etc). I think the financials of the citizens are much more connected to the oil profits than in other developed oil producing countries like the USA/UK/Netherlands.