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Comment by ihsw | Hacker News Reader

The fund's international speculative investment portfolio has seen positive YOY growth, and it was only recently that the NBIM has decided to go ahead with actively tackling social and environmental issues.

And Norway's petroleum engineering is top notch.

Frankly I think the moral superiority is justified -- they have an opportunity to make a positive contribution to the world and they didn't sabotage the planet or employ slave labor to get here.

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What do you imagine was done with all of that oil that they sold? Do you think it wasn't put into combustion engines? Do you think that Norwegian oil that was sold somehow wasn't emitted in the form of C02 into the atmosphere?

If they hadn't sold it, there'd be more money and power flowing to other oil-producing countries, many of whom have had a considerably worse impact on the world than originating Barbie Girl.

Is that why you think they sold petroleum? Out of the goodness of their heart? Not that I disagree with Norway's decision. It's a nuanced topic.

Higher oil prices discourages use. By participating in the market they are indirectly encouraging use. There is no way to wash your hands of selling oil.

Oh please. That was Denmark.

And now you've inserted the ditty into my brain, where it problably will stay all day. Shame!

While I fully support blaming Denmark, the singer is Norwegian.

Your response makes no sense at all. It is not even clear what you were attempting to say.

The difference is that there's currently no large-scale acceptable replacement for oil, so ditching oil would be committing a global suicide (or genocide, if you will), while ditching coal in the presence of nuclear, wind, solar and hydro plants that can replace it much more seamlessly is merely a reasonable thing to do at this point.

In addition, this is apparently an investment fund and the coal stocks are tanking, what would you do with the money of the people who turned it over to you for safekeeping? Keep it there?

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