Comment by thomasnno

Norwegian here. The entirety of the earnings from the oil industry is funneled into our Sovereign Wealth Fund, and has been for decades. A few percent (4% ?) of this fund is spent each year by the state. So we are not as hard hit as the others, and the state can basically keep spening money at our present level for many years. Note that oil companies in Norway is scaling back, so our jobless rate and tax income is being hurt, but so far things are only getting interesting for those laid off and those directly in the oil business.