2 ms·
> Norway has strictly followed the rule, "never get high on your own supply." While historically true, we're approaching an era where it no longer is. Our oil
by magicalhippo 2y ago
> Norway has strictly followed the rule, "never get high on your own supply."
While historically true, we're approaching an era where it no longer is.
Our oil fund was set up such that the government could only ever spend at most 3% of the annual yield[1]. This seemed like a conservative approach, however it seems they didn't take into account just how large the fund would get. As such, even using less than the 3% limit, the oil fund money constitutes a large fraction of the national budget.
In the national budget for 2025, the oil money pays for 20% of non-oil expenses[2], and it's just increasing each year.
As such it does seem we're starting to get high on our own supply, just in a more roundabout way.
[1]: https://www.regjeringen.no/no/tema/okonomi-og-budsjett/norsk_okonomi/bruk-av-oljepenger-/handlingsregelen/id444338/ https://www.regjeringen.no/no/tema/okonomi-og-budsjett/norsk...
[2]: https://www.regjeringen.no/no/statsbudsjett/2025/statsbudsjettet-2025-statens-inntekter-og-utgifter/id3055676/ https://www.regjeringen.no/no/statsbudsjett/2025/statsbudsje...
[3]: https://www.regjeringen.no/no/tema/okonomi-og-budsjett/norsk_okonomi/bruk-av-oljepenger-/hvor-mye-av-olje--og-gassinntektene-bruker-vi/id450461/ https://www.regjeringen.no/no/tema/okonomi-og-budsjett/norsk...