On Christmas Eve 1989, Norway received a massive Christmas present. After years of failed drilling attempts, Norway announced they had discovered one of the largest oil reserves on Earth.
This remarkable find would immediately transform Norway from a quiet, industrial, and fishing-based economy into one of the world’s ten largest exporters of fossil fuels.
Unlike other countries with massive natural resources, Norway adopted a long-term strategy to invest its oil revenue.
Learn more about the Norwegian Sovereign Wealth Fund on this episode of Everything Everywhere Daily.
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