| For years, Norway has used revenues from its oil fields to pour monies into its sovereign wealth fund. Now valued at well over $800 billion, the sovereign fund is the globe’s largest.
Since the early 1970s, when oil was first pumped from Norway’s seas, oil and gas extraction has been a boon to the country at large and driven up per capita income. At present, nearly a quarter of Norway’s GDP is tied to the energy sector. And, with the long-term spike in the price of oil from the 1990s until recent years, the treasury’s coffers were never short...............................................Full Article: Source
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