> I mean, I think Norway has been pretty responsible with their North Sea windfall. I don’t think one can really especially criticize them too much for anything they’ve done with Statoil/Equinor or their public petroleum fund.
And the story of how their sovereign fund came to be is quite an extraordinary one.
For those interested: https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feab...
Edit: and an enticing excerpt
> But al-Kasim’s most immediate problem on arriving in Oslo that morning was how to fill the day […] “So I decided to go to the Ministry of Industry and ask them if they knew of any oil companies coming to Norway.”
> He deposited his luggage and walked to the ministry, where he was received by a baffled official who told him to come back that afternoon. When he returned, expecting only an address list, several men were waiting for him. “They were keen to know what had I been doing, what kind of education I had, whom I worked for. […]” His request for a list of possible employers had turned into an impromptu job interview. […] At the time of his surprise call, Norway’s oil administration numbered just three officials, all in their thirties and all learning essential parts of the job as they went along.