I too wish I was sitting on near-infinite reserves of natural resources. The Norwegian economy and social state can sustain itself for generations on oil income alone. Its population literally doesn't need to work and can still support the current quality of life.
On the other hand, the example of other countries with oil makes me feel lucky that mine doesn't have.
The difference between Norway and most countries with Oil is how Norway manages the proceeds. It has a very long term plan and doesn't allow too much of the money to reside in Norway thereby artificially inflating the economy.
Yes, agreed. The recent drop in oil prices has caused Canada's economy to plummet, due to mismanagement, for example.