Norway is perhaps the best run petro state in the history of the world. To avoid Dutch Disease, whereby an economy becomes dependent on a particular commodity, Norway long ago decided to invest its considerable oil wealth in assets located outside of Norway, building a massive sovereign wealth fund that will provide income to Norwegians long after the oil is all gone.
Compare this situation to Nigeria, whose similarly massive oil wealth is corruptly consumed and distributed within Nigeria, leading to massive disparities in wealth and no long term savings to provide for its citizens.
Someone has to produce oil and gas. It might as well be the Norwegians.
Compare this situation to Nigeria, whose similarly massive oil wealth is corruptly consumed and distributed within Nigeria, leading to massive disparities in wealth and no long term savings to provide for its citizens.
Someone has to produce oil and gas. It might as well be the Norwegians.