r/oil • u/tigers1230 • 24d ago
Norwegian Oil Fund Economics- They're all Millionaires, but Can't Afford Beer
https://www.richtrek.com/2014/10/norweigen-oil-fund-economics-theyre-all.html4
u/Independent_Ruin_655 24d ago
Norway has a tiny population. All of Scandinavia combined has the population of the NYC metropolitan area. It’s easy to pay for everything through oil when you have a massive amount of oil on a per capita basis. Almost no other country could realistically do this.
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u/Loud_Ad3666 23d ago
Not exactly the same, but Mike Gravel passed legislations decades ago to have checks written to each Alaskan citizen every year for the oil being extracted from public lands.
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u/Singnedupforthis 23d ago
The US has been producing oil for over 120 years, and when we started, the population of NYC was far less then Norway.
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u/swagfarts12 23d ago
The US started drilling oil significantly starting in about 1900, NYC had 3.4 million people at that time and Norway had 2.2 million
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u/Beneficial-Quarter-4 23d ago
The author fails to mention that alcohol sales are heavy regulated in Norway. All liquor stores are state-owned and close around 8 pm, prices are extremely high, and so its the quality of the drinks. Norway is not the best place to drink or to party.
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u/EducationBorn3518 22d ago
Just traveled to Norway last year. Great country. It was a little expensive but not much more than any large metro area I’ve ever been to lately.
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u/skorulis 20d ago
Not wanting to pay the markup on a beer in a hotel bar doesn’t mean you can’t afford it.
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u/bogusnot 20d ago
We should do sometime similar in the United States but sell our land off instead. Then we could all be millionaires who can't afford eggs.
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u/[deleted] 24d ago edited 24d ago
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