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Comment by grecy | Hacker News Reader

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grecy·

> Norway, sitting on gigantic oil reserves

The US is currently producing more oil than any country at any time in history. [1].

Also the US has much, much larger reserves than Norway [2] Norway has 0.31% of the world's oil, the US has 2.1%

So I'm not sure why Norway's oil has anything to do with this discussion.

[1] https://www.cnn.com/2023/12/19/business/us-production-oil-re...

[2] https://www.worldometers.info/oil/oil-reserves-by-country/

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Mind that Norway is a lot smaller, only 5.5M inhabitants, thus per capita the oil revenue is a lot higher. Also in Norway less of the money is going to few private corporations, but to the state, which invests large parts into profitable pension funds, which gives Norway stellar financials and the ability to invest and subsidize into whatever future endeavors they see, like transition to EVs, as they see that oil supplies will tighten up.

So the argument isn't that Norway is rapidly adopting evs because they have large oil reserves, the argument is that Norway is adopting evs because they setup their oil reserves so the profits benefit everyone and not just big corporations.

Quick! do education and healthcare next!

prev?

> Also in Norway less of the money is going to few private corporations, but to the state, which invests large parts into profitable pension funds,

If only other oil-producing countries had the ability to exploit their oil reserves for their own benefit instead of just giving it away to a few private corporations...

Crazy stuff, I know.

That's 10x more oil per capital in Norway.

And the US is producing more than any other country at any other time in history....

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