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It's a bit ironic that Norway is able to buy all those electric cars because of all that oil money they make. Production of electric cars still costs more than
by neverminder 5y ago
It's a bit ironic that Norway is able to buy all those electric cars because of all that oil money they make. Production of electric cars still costs more than that of fossil fuel cars.
- londons_explore 5y ago"Don't look behind the curtain"
- runeks 5y agoHow are Norwegians using money from the Oil Fund to buy EVs?
- theodorton 5y agoNorway has a fiscal deficit every year, in order to cover the deficit we're allowed to spend a couple percent of our holdings in the Oil Fund to. To my understanding, this is done by selling assets on a monthly basis in exchange for Norwegian currency by Norges Bank. [0] One could argue that the government would not be able to offer subsidies on EVs without that option. 0: https://www.norges-bank.no/en/topics/liquidity-and-markets/Foreign-exchange-purchases-for-GPFG/ https://www.norges-bank.no/en/topics/liquidity-and-markets/F...