Although driven by their own policy, the fact that almost half of the new cars in Norway are electric/hybrid vehicles is incredible. I think they know EVs are on a growing trend, and they just get to see it at an accelerated rate than everyone else - but they probably believe the same will happen elsewhere, just 5-10 years later. I think it's unlikely that this wasn't at least a small factor in their decision.
I also believe that as EVs grow to 5%, 10%, 20% of the global sales for cars, Norway will increase its "hedging" over the next few years, which will show some direct correlation between EVs and Norway's decision to hedge its oil stock risk.
I also believe that as EVs grow to 5%, 10%, 20% of the global sales for cars, Norway will increase its "hedging" over the next few years, which will show some direct correlation between EVs and Norway's decision to hedge its oil stock risk.