For most of its history, the remote and near-Arctic nation of Norway has eked out a marginal existence from fishing, forestry and shipping. That is, until Christmas Eve 1969, when oil was discovered off its southern coast.
Rather than squandering the profits (as the UK did with its North Sea oil), when the revenue began flowing, Norway put in place the most robust and visionary framework for extracting maximum benefit from non-renewable resources found anywhere in the world.
Less than twenty years after the country began investing in what is now called the Government Pension Fund, Norway has the largest sovereign wealth fund in the world, with assets of US$870 billion. What's more, the fund is on track to hit the US$1 trillion mark by 2020.
Not only is every Norwegian now a (krone) millionaire and enjoying the highest standard of living in the world, they will be able to hand down this endowment to their children and grandchildren. Norway's savings strategy means that it has taken a non-renewable resource and turned it into a financial asset that can last long after the oil wealth has been completely exhausted.
This is the story of how they did it.
"synopsis" may belong to another edition of this title.
"About this title" may belong to another edition of this title.
Shipping:
£ 12
From United Kingdom to U.S.A.
Book Description hardcover. Condition: New. Next day dispatch. International delivery available. 1000's of satisfied customers! Please contact us with any enquiries. Seller Inventory # mon0000342933
Book Description hardcover. Condition: New. All items inspected and guaranteed. All Orders Dispatched from the UK within one working day. Established business with excellent service record. Seller Inventory # mon0000316095
Book Description Hardcover. Condition: new. New. Fast Shipping and good customer service. Seller Inventory # Holz_New_1785901001
Book Description Condition: New. Book is in NEW condition. Seller Inventory # 1785901001-2-1
Book Description Condition: New. New! This book is in the same immaculate condition as when it was published. Seller Inventory # 353-1785901001-new
Book Description Hardcover. Condition: new. New Copy. Customer Service Guaranteed. Seller Inventory # think1785901001
Book Description Condition: new. Seller Inventory # FrontCover1785901001
Book Description Hardcover. Condition: Brand New. 256 pages. 8.75x5.63x1.00 inches. In Stock. Seller Inventory # zk1785901001