10 ms·
Norway is Saudi Arabia with snow. Their entire economy and society are structured around oil extraction. There are no lessons to learn from Norway unless you
by buckle8017 2y ago
Norway is Saudi Arabia with snow.
Their entire economy and society are structured around oil extraction.
There are no lessons to learn from Norway unless you live somewhere that oil does from the ground.
- deleted 2y ago[deleted]
- Retric 2y agoHardly per capita they export similar amounts of petroleum products, but Norway’s GDP is 80k/person vs 30k/person in Saudi Arabia. Norway exports slightly more/person but their production costs are significantly higher which offsets it. The difference is Norway’s economy being far less dependent on petroleum which is only 40% of their exports.