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Norway is sitting on a gold mine, I mean, an oil field. It can afford many things other countries can't, while also prudently saving much of its oil income.
by nine_k 1y ago
Norway is sitting on a gold mine, I mean, an oil field. It can afford many things other countries can't, while also prudently saving much of its oil income.
- ozlikethewizard 1y agoThe US is the world's largest producer of oil
- bitshiftfaced 1y agoIt looks like Norway's oil revenue per capita is somewhere between $20,000 and $90,000, while the USA's is between $200 and $800, depending on how you calculate it.
- lozenge 1y agoThe Norwegian government takes basically all the revenue from its oil rights, and the US has sold the oil rights for much less than they're worth.
- nielsbot 1y agoDenmark performs similarly to Norway and they don't have oil.
- scandinavian 1y agoDenmark has several oil and gas fields. It's tiny compared to Norway but not completely insignificant.
- simonask 1y agoIt's largely insignificant when the question is "why is Denmark rich". Same goes for Sweden.
- jackothy 1y agoThis answer always comes up but then how do you explain the other 4 Nordic countries?