11–20 of 76 posts
Stupid use of funds for the most part, it's not re-invested in the country, just the American stock market. It's not like they had to buy solid gold rolls royces, but there's no reinvestment internally other than oil and fish. Norway is a hedge fund with the F-35.
Earlier quoted context omitted.
What do you plan to use instead of fossil fuels today?
In Norway and Sweden (shared grid): Primarily electric hydro + nuclear power. Wind power adds to the mix when it's windy - and it often is. (Here's the complete picture regarding the grid: https://en.wikipedia.org/wiki/Synchronous_grid_of_Continenta... ) There are power cables between RG Nordic and RG Continental Europe/RG Baltic/RG GB but to my knowledge they are all via high voltage DC - so not AC phase synced.
https://news.ycombinator.com/item?id=19594153 (347 points, 129 comments)
https://news.ycombinator.com/item?id=28780108 (115 points, 81 comments)
Original 2009 article:
http://archive.today/2022.06.15-104752/https://www.ft.com/co...
Disclosure: I'm a Swede who previously worked in various primarily Norwegian-owned software companies for two decades. I'm mostly happy about how it went. I also got some insights about Norway along the way via the 100+ trips to Oslo during that last decade when I had an engineering management role. That travel schedule was exhausting. My pet peeve about Norway and oil: How very few people ever call them out on being…
I can't really blame the Norwegians though - even if they care about the environment greatly, it would be hard for anyone to have a lifestyle based around their $250k income and to go back to a lifestyle based around having more normal $50k income.
Stupid use of funds for the most part, it's not re-invested in the country, just the American stock market. It's not like they had to buy solid gold rolls royces, but there's no reinvestment internally other than oil and fish. Norway is a hedge fund with the F-35.
Using it internally would not be a good idea, though. That amount of money fueled directly into the economy would make our inflation even worse than it is.
Stupid use of funds for the most part, it's not re-invested in the country, just the American stock market. It's not like they had to buy solid gold rolls royces, but there's no reinvestment internally other than oil and fish. Norway is a hedge fund with the F-35.
Earlier quoted context omitted.
In Norway and Sweden (shared grid): Primarily electric hydro + nuclear power. Wind power adds to the mix when it's windy - and it often is. (Here's the complete picture regarding the grid: https://en.wikipedia.org/wiki/Synchronous_grid_of_Continenta... ) There are power cables between RG Nordic and RG Continental Europe/RG Baltic/RG GB but to my knowledge they are all via high voltage DC - so not AC phase synced.
well today I learned something interesting: Norway and Sweden aren't on the big grid that covers most of Europe.
It's a difficult topic. It's probably a net win for Norway, as we can produce when price is high, and stop our hydro and import when prices are low. The problem is just that the benefit ends up making the government and the electric producers (again owned by government orgs mostly) rich, but us people have to pay more for our own energy use. So using that extra money earned to help the people is needed.
Earlier quoted context omitted.
Using it internally would not be a good idea, though. That amount of money fueled directly into the economy would make our inflation even worse than it is.
I think this really highlights the attitude - don't invest money because it might harm the money. Money is for putting in foreign assets, so that rather than a large amount of money now, you can have a small trickle of money later.
Stupid use of funds for the most part, it's not re-invested in the country, just the American stock market. It's not like they had to buy solid gold rolls royces, but there's no reinvestment internally other than oil and fish. Norway is a hedge fund with the F-35.
I wish my country would make "stupid" investments to the tune of $250,000 per citizen set aside for a rainy day (or decade).