Re: Hmmm "the world's largest such fund,"
Norway set up the fund as a way to avoid having all the huge influx of revenue destroy Its economy. One example that was often used was how plundering gold from south America actually destroyed Spains economy. The effect of oil money on certain middle eastern states was also not to be emulated.
My impression is that the oil fund lubricates rather than than fuels the Norwegian state machinery.
Whether the oil and gas was always handled in the best way possible can be discussed If I recall correctly, peak oil production coincided with minimum Oil pricing. However I am certain that Norway could have handled the windfall in much worse ways.
Biting the hand that feeds IT
