How large is the Norwegian Oil Fund?
Having oil is a curse for most small countries, but being the little smart asses that we are, we managed to become pretty wealthy because of it.
Our government decided to make a fund out of the money. The money is invested in property abroad, stocks and financial institutions. The biggest are;
Prudential PLC - 2,83 billion USD (ownership: 4,16%)
Royal Dutch Shell - 2,95 billion USD (2,01%)
HSBC Holding - 3,80 billion USD (1,98%)
BlackRock - 3,16 billion USD (5,59%)
Microsoft - 3,44 billion USD (0,78%)
Google - 3,44 billion USD (0,65%)
Novartis - 3,8 billion USD (1,65%)
Roche Holding - 3,9 billion USD (1,63%)
Apple - 4,7 billion USD (0,81%)
Netslé - 5,6 billon USD (2,43%)
What's the total value of the fund?
The total value in norwegian kroner is 7 776 400 000 000 nok which is about 56 000 000 000 000 USD which is if I'm not mistaken 56 Trillion USD. The oil fund peaked at 64 Trillion USD about six months ago.
That's about 1,5 million nok per person or 200 000 USD.
About 5% is used on the budget every year.
Will we ever see any of those money?
Nope. It's only purpose at this point is to slow down the decaying process which most European countries will go through with low birth rates and high number of welfare immigrants. When it all comes down to it, it won't buy us much time in a worst case scenario. And one can only imagine how much would, could or will be lost on the stock market, in a currency collapse or worse.
But the numbers are fun though!
I believe the long term plan is not to spend the actual money we've stocked up on, but use the annual interest to add to the national budget. Say the annual interest is 4%, we'll have a lot of money annually to add to our national budget.
you guys are all millionaires..but your elected officials won't let you have your money?
I'm not sure what giving us all 200k USD would do..perhaps inflate the economy and bankrupt us totally within a year. But, it would perhaps be better. Our oil revenues is sort of a curse. Innovation and go getter mentality is on retard-level.
I'll tell what I'll do.
If you or any of your friends have any of that EVIL OIL MONEY...I'll lift the curse.
Here's how.
You guys buy steem..then transfer it to me.
See what a nice guy I am?
You ain't getting any from me. But this country is filled with altruists, so maybe I can get you in contact with someone if they ever decide to do that!
how bout you place an add in the paper...
retired Texas Trucker will relieve you of guilt...send money
fleece the sheep...er...I mean collect the money...then send my cut to me.
I'm the brains...you're the brawn..
sound about right?
Hehe. Let's do it. Breaking news "Beware! norwegians fell for america-scheeme" Bearded sun glass-wearing dude tricked gullible norwegians into sending barrels of oil to his crypto-funded lair somewhere in the evil nazi empire of the amerikkkas.
huh...I dunno if I like the Nazi part much.
Not at all actually.
Considering the history of WWII
naw...guess it wouldn't work
Maybe the comment I just posted clear things up a bit.
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Ha! I used to be part of Prudential PLC. I didn't know it was that big until I saw the numbers on your post. Anyhoo, I think your problem is nothing compared to third world countries like mine. Your country's problem is that you are too rich so you diversify your wealth to stocks and financial institutions. My country's problem is that we are so poor, so some people sell drugs, join terrorist groups like ISIS and kill each other. I know it's really out of topic, but coming from a point of view of someone who was raised from a poor country, I just wanna say that you are damn LUCKY and you should be grateful for what you have. I think your economy is really looking after you. Unlike where I came from, we are the 3rd most corrupt country in the world. I'm just sayin'. :-)
Ill try and answer that tomorrow. ;) note to self
Are you from Nigeria? Cos that seems like my country's position in Corruption now...
nah, I'm from the Philippines. Hence, the name "pinay" meaning Filipino. :-)
Noted!
I guess we both live in a corruption ridden country...
We gotta migrate to Norway lol! :-)
Hahahahaha.....Nice one