this post was submitted on 22 Aug 2024
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It's good to see states whose wealth has been built on hydrocarbons recognising that change is coming. Any dividends from this will probably go Norway's citizens too. Because Norway are cool like that.
Yup they reinvested a lot of the oil money back into their country and population whereas we in the UK (Scotland) had it squandered.
Norway has an actual tax schema for corporations centered around VAT. So companies actually do pay taxes. Salaries/wages are also generally high. They are investing massively into tech to diversify from fossil fuels.
Coincidentally they also discovered massive phosphate deposits
Still, things are changing and there's plenty of silicon valley types and Elon fanboys. The rightward shift of the last 20yr has also hit to some degree. But there is still a strong left which is helping to weather that.
All in all a significantly better condition than in the US even though their prosperity is directly tied to US oil industry.
Having an honest and effective left must put Norway in such a minority. If I didn't have such deep roots here in the UK I would love to live there for a while and see what it's like.
Don't get high on your own supply, as the saying goes.