“This is like praising Exxon Mobil Corp. for taking other oil-company stocks out of its 401(k) plan. Sure it has sold some oil stocks. But it remains an oil company! “

“Norway is a petrostate with a sovereign wealth fund, and it has sensibly decided that that sovereign wealth fund will do a better job of diversifying the country's wealth away from oil if it does not also buy oil stocks. Norway has plenty of oil! “

https://www.bloomberg.com/view/articles/2017-11-17/absent-re...