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Does Norway perform well in various well-being metrics essentially because Norway is extremely oil rich? (I don't pretend to know the answer, and ask because I
by jjtheblunt 2y ago
Does Norway perform well in various well-being metrics essentially because Norway is extremely oil rich?
(I don't pretend to know the answer, and ask because I don't see how to figure that out)
- mediaman 2y agoYes, they're just a petrostate. Over half their economy is oil and mining.
- currymj 2y agothey separate out oil activities in their national accounts. “Mainland Norway” GDP is also not bad compared to neighboring countries. although it doesn’t measure indirect effects of oil wealth on other sectors. but still, “petrostate” isn’t really accurate.
- jplrssn 2y agoIt's a good question. If that were the case, I would have expected to also see other oil rich countries at the top of those rankings.
- thrw42A8N 2y agoNorway is uniquely located among those, though.
- vlovich123 2y agoIt’s uniqueness is more how they manage their petrol dollars through a government investment fund rather than subsidizing government services directly or giving back the money to buy popular support like you see in Alaska.
- tharmas 2y agoYes, well managed indeed! Far superior to what the Canadians did with their oil wealth. The Norwegians negotiated a good price for their oil. The Canadians practically gave it away. https://thetyee.ca/Series/2012/08/01/Norway-Petro-Wealth-Series/ https://thetyee.ca/Series/2012/08/01/Norway-Petro-Wealth-Ser...