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@@Selfmade99900 lol 4 real sounds like a scam. What peop\le dont get is all these "sponsers" are just kick back program affiliate referral programs. You buty with their link, they get 5-50% of the purchase in their pocket. Very few youtubers are actually sponsered.
If those values are Human rights, Transparency, and Pay equality, then I am more than happy for those values to be imposed anywhere by the sovereign fund.
Given other large funds like the Chinese and Arab are from countries that have dubios values, it's not a bad idea to import Norwegian values in global companies.
Especially then it is, because it will incentivise these countries tp do the same. Then we have some state fund share voting wars or something, nobody needs even more politicization of everything
i think fighting against pay raises and packages for the wealthiest CEOs of companies whom, comparatively underpay their average worker, is a moral choice, not a political one.
It`s also a financial one, a wealthy, healthy and happy population that spends more money is also bringing in lots of tax money, which can be used to fund infrastructure et cetera, further facilitating tourism for instance, or a more effective and reliable public transportation system, again increasing efficiency and attractiveness, which again, brings in more money. Norway is a capitalistic country after all, it`s just that our model of socialism is so different from most of the world that people might forget that fact.
Yes to Norwegian values! NO to Qatar and Saudi Arabia. So please Norway, influence with your wealth as much as you can, we want to be more like you. You can really help mankind to be better and live better.
Well, I agree, but our government wanna stay in their shell, so inflation stays lower here back home.... But it feels like these guys don't know how much money we are earning from all these high gas prices.
Norway doesn't want to share more than it damn well needs to unless forced. We have turned into greedy self served nippers only listening to investors... Not the people. SLAVA UKRAINE.
What’s with the random critical undertone here? Finally a country with decent ethics has a bit of impact, definitely better than the corrupt government and financial institutions wreaking havoc on the world. I hope Norway’s SWF grows 10x and their activist investing approach 10x as well
@@XGD5layer Not really true. We've connected our electrical network to Europe via the ACER agency of EU which specifies how the trade works. By following the rules, the Norwegian electrical companies import and export to a much larger marked which effectively raise electrical prices to European prices, even though the Norwegian states have a large enough supply of electricity that it could have far lower prices if it didn't adapt to an external market. That the Norwegian state is not using it's strong bargaining position to demand our own internal pricing (like France is doing with it's own internal supply of nuclear power) is the problem here. People in Norway can't figure out why we're just blindly following EU rules. All their appeals to the ACER deal we've signed just sound like weak governance to us Norwegians who are incredibly displeased with the Norwegian government parties which now have record low approval.
@@XGD5layer Because we could export electricity without importing prices in a number of ways. France has shown it's possible. That the ACER deal would lead to larger internal prices was foreseen by many prior to the deal, but the proponents rejected that and still reject that for vague reasons the population don't buy. There seem to be vested interests in the state and electrical companies to do this for larger profits. They are making money at the expense of a population and infrastructure which has adapted to cheap energy prices for the last half a century. We use electricity for heat directly and are dependent on it. Just straight up withdrawing from ACER might even be better, and if our strong bargaining position doesn't work out, we should be willing to do that.
norway is the frugal friend that allways has money, because they save and are smart with what they spend on. they dont live a huge life style and dont splurge on fancy stuff. central europe has been the friend that spends their money as it comes in, they are not broke but their bank account is allways running on empty come pay day. they have nice stuff, new cars, clothes, a nice watch. do give some money out but are quick to get money loaned back at any cost. now the economy has changed and things aren't going well. the friend that saved and live frugally live comfortably, the investments made pay out like allways and there is no fear that its not going to be enough to go around. even some good income from good planning and fortought. the other friend that lived month to month and lived a life of spending feels the pressure mounting and looks to his friend in envy. why cant he share more of his wealth, he even is making money while you suffer. this is unfair. he should give of himself freely now that you need.
Sure it affects us in a lot of ways. Gass prices went from 15-16 NOK to 23-26 NOK for petrol for example. Many have decided to go over to electric cars as a result or can't afford to drive much at all. Prices for building materials, plumbing parts, electric components, etc. Have skyrocketed. Ensuring that nobody wants to build anything at the moment. Food prices have increased drastically for most anything you find in daily stores. Packaging is also smaller. Then there are the problems for farmers and small businesses, everything costs them more. So much so that some just give up. Especially the crisis with electricity. So many thousand tons of vegetables were thrown away because storing them costs more than it is worth. The high price on electricity has hit the average Norwegian and the more poor ones the most. Now they have it hard to keep things together at all. Over to the topic at hand. I do not worry about how the wealth fund is being managed. Most here prefer a small loss of revenue to improve human rights if that is a choice. You might say it is a case of: "Id rather have a straight back and be poor than bowing and scraping as a rich man." CEO's have to accept that when someone buys into their company, they might wanna make changes. Not everyone out there care more about making money than the welfare of the workers under them. As for the large earnings we have now, I hear a lot might end up in Ukraine to help rebuild. Probably not in straight-up funds, but probably in essentials the country will need to get back on its feet. Materials etc. Some money will probably be sent but with Ukraine's history of corruption, it is more likely to be in things the people of Ukraine actually need. For example: Already poor people in Ukraine before the war, will not be awarded with a million dollars because we earned money on their war. Rather they will get what they need to rebuild, and probably then some. However, treating the poverty issue in Ukraine is not our job. Norway is a country that clings to moral ethics, that is our weak spot you might say. All the other countries in the world earning money on wars here or there, or crises elsewhere in the world, do not pay reparations to another country for it. But Norway just might. However, public opinion in Norway might turn around if we feel too many outsiders pressure us and accuse us of this and that. Most in Norway already were in favor of sharing some of the earnings with Ukraine to begin with. However, that is a case of charity, not something owed. It is important people understand that. Norway is under no obligation to do anything, as it is a sovereign nation, and the oil, gas and energy it exports belong to Norway alone. Same as the UK or the USA is under no obligation to pay anything to the wealth they have earned from their history of colonization. Bring that debate up with previous colony states, and you will have a chat war. Norway however owns what it exports, it was found and produced here. So if we by chance earn more money on gass and oil over a war that we have nothing to do with, and even send tons of relief aid to in the first place, that is our problem to deal with. If public opinion is(with the way it is now) to share the wealth with a destitute Ukraine, then that is what we will do. However people making demands on what we do with our own money, that is not something we look kindly on here in Norway.
If you think that criticising the gigantic and evergrowing pay gap between CEO's, managers and the rest of employees, is a bad thing, then you don't know the first thing about economics. These pay gaps are one of the greatest threats to global stability and the functioning of capitalism. The Norwegians are fighting for a laudable cause here.
Yes exactly this guy is trying to put a negative spin on it by calling it "influencing companies" when it's actually Norway using their privilege for a good cause which is something very rare.
I feel Norway is being glorified. Although our country is rich in resources, there are very few rich people in Norway. The majority belong to the working class, even if the amount of the average income is slightly higher than in some other Western European countries, you also have to remember the insanely high price level in Norway. To assuming that we are richer than others in the western world is very misleading, we have a much higher cost of living than most other western countries. We have a partially subsidized healthcare system, but this is nothing unique or extraordinary for Norway, this is the same in many other EU countries. Deductible for outpatient treatment, and free accommodation in hospital, this offer can be found in many countries in Europe. And one would think that the teeth are not part of the body in Norway. Dental health is not subsidized by the state, here you pay 100% of the price yourself, the state pays 0% of dental health after you turn 18. Norway has also gone downhill in recent years. We are in what I would call a financial crisis, although the media does not use that word. At one point, electricity became ten times more expensive, the price of petrol exploded, food has also become much more expensive, and housing interest rates have exploded, all this in one year. Despite all the price increases, and the fact that our currency is in inflation, the money has lost a lot of value, the amount of income is exactly the same. The poverty rate has always been low in Norway, but it has increased in recent years. A few years ago, 7% of the population was poor, now 10% of the population is poor. Although Norway is rich in resources, there are very few rich people. The working class is the majority, the other classes (middle class, upper class and lower class) are minorities. People think we are so much luckier than the other western countries (some western countries are exceptions, e.g. the USA and a few others), but otherwise it is not better here than in other countries in the first world, but of course better than in the second and third world. I have no goal of becoming rich, money is not the main key to having a good life, the most important thing is to have enough. I know a Spanish/Norwegian couple (Norwegian wife, Spanish husband) who have lived in both Norway and Spain. Spain has less natural resources than Norway, but the people who live there are no poorer than Norwegians. They earn less, but at the same time it is cheaper to live there, so it will be a similar standard of living, the majority of Spain is working class, the majority of Norway is working class. Poverty is a minority in Norway, poverty is a minority in Spain being lucky in life is more than money. Money is not the main key to a good life, having enough to survive is the most important thing, but it is very provocative when people say we are so extremely lucky, people who have never been to Norway, people who have only read about Norway on the internet abroad. I am told how lucky I am abroad, that I have no reason to be unhappy or depressed, no matter what. It is more than just money and politics that play a role in whether life is good or bad, mentality and the weather and what you have experienced in life play at least as big a role in whether the life you live is good or bad. I think you have to assess whether people are lucky or unlucky from person to person, and not from country to country, not from wallet to wallet. It is difficult to define who is lucky and who is unlucky (the exception is someone who is starving or someone who lives in a war zone), but if you are not starving and do not live in a war zone, then it is difficult to say who is luckiest and who is happiest, it also has a lot to say with whom you are surrounded with. I am Norwegian and have always lived in Norway, am I lucky? No, at least I haven't always been like that, I've experienced a lot of pain in my life, grief, trauma, two traffic accidents, been treated badly by many people, actually also by the Norwegian system several times, so even though I live in Norway, so I haven't always seen myself as lucky, I feel neutral now, neither lucky nor unlucky I have also experienced to not having enough money to primary necessary things for a while in a period, and at the moment I can not afford dentist, and I have an avarage income
As a Norwegian, with low income, father of 2, soon to be 3, and a hard disease to deal with. Paying for energy is astranomicly high, were att 1100% increase since 2013. And this is a cold country. Even tho Norway produces enough energy to not have to make it's people suffer, it's selling it's energy to europe and charging it's people this insane amount. Apart from Ukraine that is getting it's infrastructure blown up. How bad is it in rest of Europe?
well, given that idiot countries like Germany decided to shut down their own nuclear reactors in favor of gas from russia you could say that the only thing making sure europe doesnt freeze to death this winter is us. Germany voluntarily cucked itself and is now coming crying to us for power because of their own retarded mistake, and prices are up alot so prolly on par with yours in terms of bad. i'm on AAP now and currently living 2000 nok under the povertyline and the only thing keeping me from having to go vikingmode this winter in the wilderness is having power included in rent.
This is simply not true, and your numbers are waaaaay of... Even tho the spot-prices are as high as in other european contries, we get a fixed discount on our utility bill. In other words, if we take todays prices vs ur example that the spotprices are increased by 1100%, what you actually are paying is increased by about 200% since 2013.
We have similar issues in Sweden with sky high energy prices. So many industries are suffering with high energy bills and will have to cut down on personnel to survive. Most people can handle their household energy bills but if they lose their job they are in big trouble.
How has Norway managed it's oil wealth? Wisely! How does Norway compare to other nations regarding quality of life? Always in the top tier! As a role model, Norway shines.
We are five million people, and we are able to make ALOT of oil and gas. If we where not at the top something would be wrong. If we can't be at top, who would have that abilety?
@@berntmariustromsdal9215 Many countries has made a lot of money on oil and gas. It's the way it's spent (or invested) that is difference between Norway and the rest. Norway could easily have ended up with the dutch disease.
Unfortunately, it is not as bright as it might seem. As a Norwegian citizen, I regret to inform you that the mass inflation, gas and electricity problems are just as bad here if not worse than in most other european countries due to the extreme costs of living not going down. Poor people in Norway have been directly backhanded in their heads and our own government isn't listening to the people's protests. Why are our electricity bills so astromonically high, even though we're one of the wealthiest nations in the world? Well, while our country might 1000% be able to support it's citizens with the amount of money we've made, we choose to spend it on supporting foreign countries while our own people are now, more than ever starving on the streets! Norway as a role model, might be better than America, but our government for sure isn't the hero we need.
Norwegian values on companies cant be bad right? Like workers rights, unions, stable income and job security and not stupid high ceo pay. Writings this while i am drinking as a Norwegian
We love Norwegian values, it’s the govts, oligarchs, CEOs and dictatorships that didn’t like it. Heck, I want to replace my govt with a Norwegian colonial govt instead.
It's true, however the country Norway and its people has _always_ been one with little aristocracy, that never got entrenched, and the people and the country is one and the same and even leaders are _for_ the people; the people aren't _for_ the _leader._ This is a concept that is very hard to grasp for a surprising amount of nations and peoples.
@@hkchan1339 Our energy prices are through the roof if you dont have a high paying job here u will most likely only barely be able to pay the bill and you will need to survive on 1000kr-2000kr (100-200$) here each month which gets you basically nothing.
@@lyneo3247 Why are you making stuff up? The social security rate (sats for økonomisk sosialhjelp) a person with no other income gets from the government is 6.850 kr/month, PLUS free rent and free electricity. If you had a averagely paid job at 575.000 kr./year (median salary) and lose it, you will get about 23.000kr./month AFTER taxes in unemployment money (dagpenger). You also don't need a high-paying job to pay your electric bill - yeah it has become much more expensive, and it is tough for the poorest but most people manage just fine.
@@Jonas.856 Kind of... Thing is, Norwegian "oliarchs" have limited power compared to the ones in other countries. And they're *not* looked up to by the Norwegian society at large. Any activity of theirs that's not for the benefit of society at large or strictly above board normal capitalism is scrutinized closely and *will* be judged.
Few or non oligarchs have benefitted from oil and gas. Most of them are either in real estate, shipping of fishing Industries from many generations back. In other countries like Saudis, Russia and America its daylight robbery. Persants become overnight millionaires
Norway using its wealth fund to highlight values is important. Getting energy from Russia or letting companies or countries that abuse human rights manufacturer everything is more than just morally wrong, it's dangerous.
Regarding the support for Ukraine, Norway is in terms of % og GDP by far outgiving any other nation in the world. And mind you, our GDP is very high as well, thus the money given per capita is astronomic compared to any other country. Also, most of what we give is not surplus weapons pulled from the dismanteling lines or storage, but fresh hard cash.
Meanwhile the US claims to have "given" 80 billion dollars in military aid to Ukraine. But they often forget to include the word "military" when talking about it. Which leads many americans to think the US has taken 80 billion dollars out of already thin budgets and handed it over to Ukraine. While in reality, they are giving away old military equipment, counting the price from when it was new, scaling it up to todays crazy american military evaluations, and then claiming to have donated that amount to Ukraine.
This, hard. Not only are we have been *DUMPING* money and other things into Ukraine since the very start of this conflict but we're currently the number one exporter of natural gas in Europe, and by that extension the one and only thing separating the rest of Europe from blackouts and power-rationing. the fact that the Polish PM has the balls to complain is beyond me. Yes we make shittons of money of the war but that is literally just the outcome of having to supply most of a goddamned continent, but we've also tried our best to make sure they dont freeze to death this winter. with the baltic pipe we are direcly responsible for Poland actually having power this winter, and will in a few years deliver them roughly 50% of their annual consumption.
@@janolavborresen3893 Thats a very wrong thing to think... When they say on the news in the US that Biden has given another 40 million, another 70 million, another..... I think they are up to claiming to have given 80 BILLION in "military aid" to Ukraine now. They often forget that little word "Military aid" Not aid, but military aid. So what happens is. Biden and his guys call around to every army base they run in many countries. The US has like 4-5-600 operational army bases around in different countries. So they call them up and ask if they have some old military equipment laying around that they dont need. Things they arent using. Such as missile systems, trucks, anti-tank stuff. Not actually tanks or very offensive weapons. Mostly defensive in nature. So... Then they calculate how much that equipment cost 12-15-20 years ago when it was new, then they scale that up to todays money. And then they claim to have given that FICTIONAL sum of money to Ukraine. Other countries do this too, but only USA wants to brag about the enormous sum. And this has lead to a lot of american "lefties", liberals and right-wingers alike to react to this with a sense of.... Wow... Giving away all that money. Surely this money could have been better used to fix poverty back home. --But even if CNN, NBC, CBS, all the cowboy amateurish news outlets SAY this is money, it isnt. News channels dont do virtually ANY investigative journalism anymore. They never look things up or do in-depth interviews these days. Its more important to generate clicks, likes, and ad revenue. So they dont tell you that this is old military equipment. Not money. Nobody in their right minds would ship billions of real money to Ukraine. They were one of the worlds most corrupt countries BEFORE the war, and certainly dont have the infrastructure to handle that stuff now. And when the US DOES give real money as aid, its always in the form of printed dollars. Its easy to give. When it doesnt have to cost them anything. When the money doesnt have to come out of already thin school, road, social budgets. Dollars for war is always just printed. In fact... This is a shocking bit of statistics that was just revealed. 80% of all the dollars in circulation... Was printed out of thin air in the last 2 years. To cover up for the US actually being in a massive recession due to covid right now. And the money always ends up in the same hands. The rich get richer. Which is why a Lamborghini in California today costs TWICE as much as it does in Europe. Crazy inflation.
Correction of terminology: most of the fund is from portfolio growth (of which actual dividends are a small portion). But overall your breakdown is wrong lol.
With as strict of morals, as to whom they invest in or not, I'd assume once this war in Ukraine is over, Norway will be looking on where to invest in Ukraine. Will they, in the end, profit from doing so? Of course they will. But, so will Ukraine. Norway is a classic example of, "You don't have to sell your soul (morals) just to make money." People should take note, and learn from their example.
We've already promised to invest billions into the Ukrainian rebuilding... So has Sweden and Denmark. It's probably still going to be a really slow process. But Ukraine won't be alone in the rebuilding process.
There have been talks about simply giving all the "profits of war" to Ukraine. That is already over $10 billion - and could by much more depending on how things evolve.
@@jarls5890 That would be generous. But, I was thinking more of investing into Ukrainian businesses. In many cases it's a long-shot and risky. But, there's venues Ukraine will be needing investment help. And while this video stated that Norway doesn't invest in another country's oil & gas, Ukraine does have major amounts yet untouched. And what better, morally right, then to have one EU member help not only another EU member in becoming prosperous, but also helping EU (as a whole) become more energy independent? You know, Norway is the EU expert in that field...
@@dafydd1722 😮I knew Ukraine wasn't, but has applied. But, you floored me with Norway. And you're right. They're one of three EEA EFTA states. (So, about as close to EU as can get without being actually a part of the EU.) You learn something new every day...
What the Polish Prime Minister conveniently choose to obfuscate, is how the oil handling here directly benefits people, how people here are among the richest/happiest/highest standard of living in the world, including his Polish contract workers that have been working here for ages, and *LAST but not LEAST:* Norwegians are one of, if not _the_ most avid volunteer workers and charity donaters per capita *IN THE WORLD.* Norwegians have been sharing the wealth with _those who need it_ for *FOREVER.* Thank you. For comparison, the most charitable state in USA is Minnesota. Guess whose population migrated there? And still the average Norwegian citizen gives _10 times as much per capita_ than them. "Share the wealth" yeah. What a senseless, irrational, badly placed and timed, and insensible comment. What have we done military for Ukraine? Well you can check what is given per capita easily or calculate yourself. And that is only the *STATE.* And not even including charitable organizations or companies. Donating food, clothes, appliances, generators. Our postal service here, on their own volition, made it _free_ of charge to send packages to Ukraine. Because that is what people want and that is what people are doing. 33 000 Ukrainians have been taken into high standard living places or private homes. I feel like it's pointless to go on. Just know that if you're to take a jab at one of your brothers, you better make damn sure that someone won't piledrive you with a reality check. Lol Edit: Oh yeah and there's our 2 billion project off the top of my head to ensure Ukrainians have enough gas for the winter. Poland is emerging as a global and forward power. Perhaps it's time to attribute some credit to the Polish _people?_ How much resources did you give to Ukraine, Duda? After all, it was they that helped their Ukrainian brothers, not you mr. Duda. You're welcome for the new pipeline by the way.
Norwegian ethics seem to stand out as a positive and I wouldn't be surprised if they use some of their new found wealth to aid Ukraine but If their business model is anything to go by then it won't be in cash, it would make sense for them to set up a managed trust fund in which Ukraine and themselves would both benefit from and the profits aid Ukraine for years to come. It wouldn't be out of the Question for Norway to invest heavily in Ukraine's oil and gas reserves with drilling etc once the war is over as it could use its knowledge in that field that it has, Also with duel management Ukraine may well adopt Norway's business model and become more powerful itself that in time would make Europe's gas and oil requirements easy between them and other producers within Europe without ever needing Russia again.
supporting ukraine is mistake, because its not the reason that war is in ukraine. there are so many things you dont get to hear in your media, so many things are hidden from public, but i will say, zelenski is war criminal, US puppet, and it is in US favor to create war with russia, because thats the whole point. Thats why zelenski fired missile to poland, to provoke world by saying russia did it. War in ukraine started with revolution when usa overthrew ukr goverment and installed the puppets. Yes bidan is deeply involved in it. But sheep will learn things the hard way and its going to be hard for them to swallow all the information. I have not hear a single word in norwegian or europian outlets how US tax payer money ir laundered in ukraina and sent back to democrats and used in midterms. i have nor heared a single word from norwegian outlets about BIO labs russians have destroyed in ukraina, that was sponsored by USA. Yes USA admited they have BIO labs in ukraina which were creating bacteria and viruses. Yes its official. None of you seem to remember the deal when USSR collapsed, that NATO will not move to russian borders. ukraina has to be a EU and NATO free zone like cuba in cold war. You think you can win war against russia? You cant, because none of you will get involved anyways, you just send money and weapons to corrupt ukr government and what they do? steal the money and sell the weapons.
The aim is to participate in the rebuilding of the country. What it is doing now is humanitarian and medical support along with other countries. This war is also a tragedy for Russia.
There is already plans for the rebuilding of ukraine and who helps with what part. Don't remeber what part norway was going to help with, but I believe it was to rebuild the energy sector. Norway have already given billions of kr to Ukraine for humanitarian and military needs to buy things. They have also and keep donating weapons and more, they don't confirm sending anything before they know it has arrived in Ukraine
Our Sovereign Wealth Fund also has a policy to not be any major stock holder in any company. We have a policy of not gaining such ownership that we affect the company policy / direction. Also worth remembering that it is our state and government who are the profiteers, not the general Norwegian population. The cost of living are rising here in Norway also, especially electricity and energy costs. Politicians has built pipelines to export gas and electricity to foreign nations, but doing so even if it's against the our constitution. The contracts established with EU (which we're not a member of) effectively promised away much of the energy produced by our renewable water sources. The same agreements forces european prices on energy on the Norwegian population as well, we have to pay equal/more for energy even if we are the country producing it. The last hundred years Norway has transitioned it's society to depend upon cheap energy (we don't use oil and gas for cooking and heating) and according to our National Sikkerhetsmyndighet (national security authority) our dependency on electricity is our biggest security issue. The average household in Norway use about 3500 kw/h a month and a lot of households can't even heat their house without it. There is a rising number of households and small companies that are having a real hard time staying afloat under these circumstances. My impression is that the general Norwegian population is pissed on our politicians and most of us want to reduce the amount of electricity exported, due to possible shortages and exploding prices here. We've had prices as high as 4-5-6 NOK kw/h and on average that is about 14-21K NOK a month in electricity bill (aprox €1350 - €2000 a month for electricity), worst estimates told us it could raise to 20 NOK kw/h (€6750 a month for 3500 kw/h usage). Our government has introduced policies which hides the cost for normal households (not small businesses) by paying back 80-90% of the electricity bill using tax money (which is our money also). The energy companies and foreign investors (which for some reason the politicians allowed investing in Norwegian energy infrastructure since 91) are the profiteers. I highly doubt the politicians were allowed to sign these contracts with EU, as our constitution prohibits it (it prohibits reducing Norwegian sovereignty to foreign countries and/or institutions, which they've done by allowing EU established organizations to control much of our energy infrastructure). To my knowledge those politicians have effectively committed treason. My guess is that if our national policies reflected the opinions of it's citizens more, then we would export less energy (not gass) and we would have not been apart of the EU energy pricing model. Why should our prices explode because of bad policies implemented by UK and German politicians (by shutting down local energy production)? It's not that we don't want to export, but we have to maintain national security first and foremost and a pricing model which is sustainable for our citizens (€1350 - $6750 a month is not!). The prices are OK now, but still many small companies struggle - and the winter is not here yet. Start up your powerplants again!
@@TheMicromalist does it really matter if the country makes a kill out of it and can support you if you can not pay the Electricity bill. Most working Norwegian can pay only students can not afford.
The Norwegian system is based on social democratic liberalism, and they prioritise workers rights in the companies they invest in. It is extremely different from pure socialist or communist systems of governance. As the sovereign wealth fund recognize the value of the free market, but also try to compensate for the bad incentive structures inherent to big company structures.
Only americans dont understand the difference between social democracies and communism. And you will never be able to explain it to them. Because they were bottlefed that scare tactics since their grandparents were teenagers. Explaining socialism to americans is like telling them to pull their pants down in church. Its not illegal, but they just know to the core of their souls that you shouldnt do it.
The Norwegian government today announced a plan for a future cross-political long-term agreement on economical support for Ukraine. They haven't announced any numbers for this, but they will be in cooperation with other NATO and UN countries, and proposals on support will be announced in the beginning of 2023. It was also official today that Norway is invited to the next emergency G7 summit to be held today in regards to Ukraine.
Far as I can see from this documentary Norway is playing an important part in raising standards across the wold. Keep up the good work lads & lassies. I hope they will support Ukraine as it is so cruelly victimised.
Norway IS supporting Ukraine. For example, the total foreign aid spending was 40.1B NOK in 2021. Norway is now giving an extra 8.3B NOK mostly to Ukraine, though a small portion goes to neighbouring countries (mainly Moldova). In addition, Norway is also spending 10.7B NOK on receiving fugitives from Ukraine. In other words, we (Norway) are spending almost 50% extra foreign aid, just to help Ukraine. Frankly, it pisses me off when "everyone" wants Norway to increase spendings to save the whole world. For DECADES we have been the country giving most per capita, and the last years we've given DOUBLE of what other contries gives, ie Switzerland, Finland, UK and Belgium, AND over FOUR TIMES as much as the average for OECD countries. And that's BEFORE we decided to spend 50% extra.
@@johnnymartinjohansen that is wasting taxpayer money. those who want to support ukraine, go to ukraine and fight the war, dont spend ppl hard earned money. I didnt say yes to them to send my money to ukraine.
@@johnnymartinjohansen its tax payers money, you and i pay taxes and ppl decide how to spend taxes, not when some corrupt lunatics throw the money down the drain to war criminals
@@johnnymartinjohansen i dont se most of norwegians supporting by fighting in the front in ukraine. You are supporting criminals and mark my words, they will go to trial
We are not raising the gas prices. The market that we are a part of, dictates to us what we have to charge for the gas. Just like in the stock market, it is illegal to sell at a lower price than the most eager buyer is willing to pay. That's how the market works. The truth of the matter is simple; Norway does not have the power to change the fundamental rules of global market economy. We also didn't force Putin to shut off the supply and we did not force him to go to war. That is also a power we don't have. But you're right; someone always makes a profit from war and I don't think that GPFG is the worst, helping stabilize the global economy and investing in companies and infrastructure around the world, which will include Ukraine when this is over.
When taking about the Norwegian sovereign wealth fund you should consider the old Greek saying: "A society grows great when old men plant trees whose shade they know they shall never sit in". The importance of not mortally wounding the fund can not be fully stated. It is not for us to milk dry now for short term gratification. Your quarrel here is with the market and speculation that sets the prices rather than with the one supplier in that market that acts with some ethics and morals.
Not sure, I’m pretty impressed by road system and underground in England, and Germany, Spain has also good transportation system. On contrary Norway as many dangers’ roads, Norway does not how train system that connect Norden to southern part.
@@kjetilhvalstrand1009 That's understandable. Norway has a huge land area with a small population. However, it is the only country where EVs sells more than ICE cars.
They are Scandinavian/Nordic values in general, and that explains why Norway, Denmark, Sweden, Finland and Iceland top almost every list imaginable. They are far and away the best places to live in the world. Norway of course being the richest through oil has an outsized influence in the global economy compared to its neighbours.
@@hkchan1339 It helps to be a resource rich white western country with a small, homogenous population. Given the global political and economic system, they hit the lottery.
@@REDnBLACKnRED it’s not pure lottery, one can argue Venezuela is also a small oil rich country with a homogenous European Christian descent western country. But look at how selfishness and corruption did to them in contrast to Scandinavia
@@hkchan1339 Venezuela is neither small nor homogenous. Europe is not homogenous, and immigrants from different European countries coming together in Venezuela does not make it homogenous just because they are white and Christian. Norwegians are just Norwegians, for centuries. And there are only 5 million of them compared to Venezuela's 28 million. Being a small, homogenous, yet rich population is a very rare combination that mostly just exists in the Nordics. And even that is changing now.
Just for information! Norway has helped Ukraine by alot to pay many of the workers in the government in Ukraine the salary and will also increase the expenditure. And to mention the Norwegian state don't have any obligation to do so, but we would be helping out Ukraine anyway like we have been doing for so many other countries that has been in war. Something else to mention is that Norway and the oilfund are two different things when we are seeing how much money had been making money last few years. Would also mention one other thing is that. Norway and the sovereign wealth funds are two different things. Norway did made about $150 billion in 2022 Sovereign wealth funds did made about $287 billion in 2022 So therefor Norway it self did transfer $110 billion to Sovereign wealth fund and has now about $1,440 billion (one thousand and four hundred and forty billion dollar) in savings. End of 2021 the Norway State had only about $50 billion in debt, but choose not to pay of the debt because ongoing expenses and it's always to have some cash on hand, and would also have some debt to show to the market that they can be trustworthy. We could keep going 10 years without any income just because the oilfund. How many other countries could say that? One billion = $1,000,000,000
"save europe"? We`re under 5.5 million people, we can`t save half the planet, many Norwegians are freezing in their homes because of electricity costs, students can`t find housing, I am currently without permanent residence myself because of the lack of accomodations and skyrocketing prices. I think we should focus on helping ourselves before it all goes to hell tbh. You can`t help others if you can`t help yourself..
TBH. I have a feeling 90% of your comments are from Norwegians :D A side effect when you put the word "Norway" in the title. We are always scattered randomly on youtube, rarely meeting, but if we meet it usually has to do with that word :P
Norway is an expensive country to live in so running a business here instead of producing in other countries and importing is a challenge. We have had cheap electricity from hydropower, but mismanaging this resource has caused it to increase apx 10 times (and has been close to 20x some places) the last year. For many businesses this has made profit impossible and industires/businesses have closed because of it. Those with low income have also faced serious challenges when your monthly expenses go up with 10-20% in a matter of months. Do not think I'm overrating the situation when I claim it's the biggest crises since WW2. Norwegian industry suffers. Less work available. And where ever this income is going it is not to those who desperately need it. The whole Norwegian economic ecosystem is seriously destabilized
The Great Reset/Green Deal will be the final nail in the coffin, just wait and see. You've seen nothing yet. These globalist traitors will destroy us all.
I am Norwegian I think the management of the electric power has been very good. Both for Norway and for the rest of Europe. Basically, Norway has exported electric energy this year like almost every year. But the prices of energy (especially electricity and natural gas) in the whole of Europe have gone up due to the Ukraine war and this also (obviously) affects Norway. Norwegian unemployment has gone DOWN from 3,6% to 3,2% in the last year (October 2021 to October 2022). Norway is doing well these days, despite the war and economic turmoil.
@@arnulfrefsnes Yes exactly, the government is acting very responsibly, but a lot of people don’t understand economics and inflation, and don’t understand why we can’t just pour money on the problem.
people in norway are starving because of electricity export. People in norway have to use electricity to survive winter and the industry in norway are very dependent on cheap power. Now it aint cheap and costs are skyrocketing. The state might get some cash in, but people are not.
Last time I checked, Norway owned 1.5% of the world's listed companies, not 1.3% as stated here. Please, can the narrator be so kind as to speak a little faster, so that I can catch what he is saying? Sarcasm ;-)
It's worth mentioning that Norway is the biggest contributor to Ukraine per capita, by a mile(as it should). So a lot of the extra income as a result of the war is directed back as aid. Therefore I don't think it's fair to use the very derogatory term "war profiteer" for Norway. They were in this business long before the war, and they have never tried to take advantage of the situation, quite the opposite. Just because you happen to be in a market, that happens to see increased prices because a war erupts, doesn't make you a war profiteer. Or to put it another way, if Norway is a war profiteer then so are everyone else selling things that have seen a price increase because of the war, so basically everyone. A war profiteer is any person or organization that derives _unreasonable profit_ from warfare or by selling weapons and other goods to _parties at war._
Is only one thing you can say Good Governance, I wish them all the best may who ever is running the country understands and plays their part .Great video too guy's
A better question is, what does Norway have to do with the destruction of the Russian gas pipe called Nordstrom? Do some research, then follow the money...
Norway has a much higher amount in total value and in percentage of free capital at hand than any other country, it should be NR.1 in total value and it is embarrassing that it is not NR.1 in percentage, because that rank would be laughably easy to take.
@@freedomfighter22222 People on the internet were also insisting that Norway should've poured the most resources into helping Syrian refugees for the same reason that you're stating. Their financial situation would've likely been very different if they were obligated to always be this incredibly selfless, 'Good Samaritan' that you think they should be. They're already investing more than most into helping struggling nations.
@@DillaryHuff Helping Ukraine is a strategic interest of Norway, I said nothing about doing it because it's morally right to do. Pouring that much money into Syrian refugees wouldn't return the cost on investment, helping Ukraine beat Russia and getting not only Ukraine but the entire wests and especially eastern Europes favor would easily pay itself back in the next few decades.
The biggest problem is that the fund cant be used localy in norway, as it will inflate the norwegian kroner.. And making everyone poor.. The irony of having to mucy money
@@bell4textu973 Yes, but don't discount it. We've given them other things, lots of anti-tank weapons for example. Also, you do remember the NASAMS? No NSM for now though. We can hardly give away things that are limited by agreement (I imagine our old F-16s require US export controls, while the Leopards requires German approval).
@@bell4textu973 Last time I checked, Norway was the biggest contributor per capita of military supplies to Ukraine. That may have changed by now but it's still high on the list. I'm not sure if the NASAMS systems Ukraine are getting are included here btw. It's a Norwegian air defence system but if I understand right, it's the USA who is paying for them and tehy are manufactured at a Norwegian/Finnish owned factory in the USA.
@@bell4textu973 why sould u not give away old hardwere that is build to take on soviet equiment it cost to much to maintain old eq so might aswell give em away for a cause we support
Great segment as always! Ukraine and the western alliance has a good friend in Norway. Just some details about that for those who may be interested. Last month the Norwegian parliament decided to give $7.4 billion to Ukraine. That could e.g. cover a respectable airforce. It's not earmarked for that, but it could, if 74 F35s is respectable. Also uniforms, helmets and protective gear, 4000 manpads, Mistral SAMs, artillery, NASAMS (with the US), armored vehicles, Hellfire missiles, drones and munitions, thousands of artillery rounds and eight Leopard 2s. In addition to that humanitarian assistance, ambulances, hospital treatment for wounded soldiers and training of soldiers and field medics. Also, in all fairness, many countries make some additional profits due to instability caused by the war, e.g. countries with an arms industry, that export agricultural products and who produce LNG, which best describes the USA actually. A fact that rather strangely seems underreported in the US, where voices are complaining about high costs while business is pretty good. There is a lot of money changing hands now due to this conflict. And there's a lot of cheap (compared to LNG) gas flowing from the North Sea directly into Europe.
As a Norwegian I think a lot of the extra income should go to rebuilding Ukraine once the war ends. Ukraine is fighting for Europe's democracies and independance. It's the least we can do.
It's natural for Norway to support and invest in Ukraine after the war, just like it's natural for us to support and care for Ukrainian refugees now. At the same time, you also have to remember that the reason why Ukraine is not in the EU and NATO, is because of too much corruption. That is why we couldn't defend them to begin with, so you have to nuance the picture a bit.
@@archmad: That is extremely unlikely. What this war has revealed, is that Russian power wasn't perhaps a tenth of what Putin thought it was, because of corruption. The expenditures have simply been stolen. Ukraine, on the other hand, has friends with bottomless pockets.
@@archmad: In chess, we have the expression that you can't win with just your hands. You need pieces. Putin's forces are completely inferior and now we're getting into winter, where obviously, the attacker is greatly diminished, making them even weaker. We now know with certainty that the image of Russian might was complete fiction and he has certainly not done anything to win the hearts and minds of the Ukrainian people. And you also shouldn't forget that he's starving his own people while doing this.
Norway donates billions all over the world. but the own lower middle class and the poor in norway can just manage it to get by , even middle class is now at the help food stations for free help. insane many road tolls to pay all the time and insane tax on the fuel sold to private and and and . well guess it looks good from the outside.
What's wrong with our fund sharing norwegian values in other companies, such as your example with Amazon's labor union vote? Why'd you describe that as disturbing, when the only disturbing aspect of your example is that we lost the vote
16:31 - Oh Norway 🇳🇴! You really do shine in Europe! We really ought to envy your anti-corruption egalitarian stance on the wealth gap! Love from the UK! 🇬🇧 I wish we were as devoted as you in this regard! 😞😃👏👏 Maybe trailing very close behind you with the same principles is New Zealand 🇳🇿
@@fred6907 That is also an issue we're trying to address, but for the last century, the gap between the rich and the poor has been an area of focus for most governments here. So much so, that it's kinda hard to get really poor. Which has a lot of benefits for everyone, even those who aren't as rich as they would be otherwise.
Yes - the fund will exist for many generations to come. If the stock market falls, shares are bought up to maintain the 70/25/5 formula at all times. (Shares are 70%) and sell bonds. At the same time, the $120 billion you get extra in 2022 is used for shares in a cheap market.
@@lpdude2005 shares are fine, but more should be invested in the `physical realm` - factories, building up national brands, technical traditions and knowhow, more or less like germany. why? in case of a world wide war or disaster, all the current stock markets and global value systems might be wiped clean. suddenly everything is reset and nationalized, like russia now and cuba in the 50`s. people high up in the system live in a bubble and like merkels pipeline to russia, they can`t see the obvious flaw. we then start from scratch from what we have within our borders
Norwegian here. There is a big difference between our government and people. For instance, as everywhere else in EU, our SME's has been struggling without any support. Population and small private businesses struggle from inflation ( food, electricity and energy) while wages lagging.
Well, Norwegian or not. First, countries that arrested Russian assets that were confiscated under the sanctions, should be converted into goods, services, and money to aid the Ukrainian cause. Other programs then should follow to protect democracy and prevent imperialism.
@@martinberg3970 hes not saying others Aren't struggling. Hes saying that Norwegians are struggling just so that we can help others. Maybe a bit too much. Farmers are losing their harvest, buisnesses are going bankrupt a record high of Norwegians are struggling financially and the government is not helping them this time because its "unable to spend more money in fear of inflation" its the first time in history the government went against the popular vote. This year has not been great for Norway and its people.
Yeah may be norway moves more money but stuff is so expensive on norway thats kinda as fukt as everywhere else... so yes enjoy paying 10 bucks for a beer. 😂😂😂 at least overhere its pike 2 euros... 🤗
@@peterpanini96 yeah okay, but heres the thing we make more. And pay more. But when we go to a different country for vacation its suddenly very cheap and we can do more so its a trade off that makes vacationing cheaper.
The problem is thinking that money can buy you everything and solve problems. The money is the cause of the problems in the first place. Ever war ever fought was for the money/wealth.
@@gulogulo7636 I just figured that allegedly art is worth something because it can be displayed. You can’t display a fraction of “art” so isn’t it just a speculation market now with no tangible value?
There is a life after the war in Ukraine too, there is a life after ours, our kids and our grand kids and so on. The money we have and had before the war, is for the future, a future we will never see. A fund that the whole world will some how have benefits from. Norway is goving already alot to Ukraine, but also allot to humanitarian organisations etc. that is not counted in the direct aid. Norway us allot of money on Ukraine
dont come here blame norway for taking advantage of the situation europe have put themselvs inn. yes, the ukraine war are ofc a factor, but when countries like germany close down bunch of nuclear power plants that delivers cheap stable power and trade that for alot of windmills and solar panels, thats anything but reliable, and you have great brittain that shut down big part of their gas production, thats allso big reason for the lack of energy
The worst thing about Stagflation is that it makes nonsensical investments like MasterWorks viable. I made big profits from comics during the Jimmy Carter misadministration. The bottom fell out in the Reagan Administration. I then invested in things that made sense and employed people. What a concept. 😊
One quick correction; at around 7:45 you state that the first withdrawal from the fund was in 2016. This is wrong. The National Budget is corrected every year with around 30-40 billion dollars from the SWF, and this correction must adhere to the "Action Rule" (Rough translation of "Handlingsregelen") which states that no more than 4% of the value of the fund can be withdrawn any given year. To put this in perspective, the norwegian national budget has consistently been between around 140 billion dollars. This means that the Norwegian national budget is corrected as much as 30% every year, a correction that other countries usually do by taking on more debt. The Action Rule has been broken twice, once in 2008 because the fall of the funds value was severe and the cash was still needed, and once now during the pandemic.
Also, the price drop in oil in 2016 is referred to as the oil crisis in Norway. Several coastal cities in Norway were severely impacted, especially Stavanger and Bergen. Thousands of people lost their jobs.
@@NorwegianCrazyGuy because Norwegians are prudent and don't have a culture of boasting, like the gulf states. If you keep immigration tight I don't see how Norways status will ever fall
You should pay more attention. The lines are getting longer every week at food-centrals where Red Cross and others NGO's are handing out food to the needy ones. NGO's working with mental health and poverty reports increasing numbers of desperate people, this have made it into the news. Lay-offs from public institutions like FHI were announced today, same with the government's owned media NRK. Salmon food processing plants are shutting down putting more people out of work. The government implements taxes on energy, effectively shutting down older wind power plants and reducing the number of new ones being built all while we have a shortage of energy. The middle class is getting wiped out and the working class is pretty much facing the worst winter in modern history. The golden era is over. I hope my perception of the realities we are facing is wrong.
Norway are giving Ukraine weapons, and money. And, to pressure companies to give workers rights, and money. Instead of giving away the money to CEO's, is smart. Good workers give good profitt. Greedy CEO's are bad for business.
Norway is indeed helping the Ukraine with military hardware. The main help will come after the war, though, when the Ukraine needs to be rebuilt. Norwegian fertilizing products (huge!) are only the beginning.
Still difficult to invest in a country known for high levels of corruption, it's not necessary Ukrainian citizens that will thrive using those funds. Even if Putin goes away, there is a lot of "cleaning" up to do.
Agreed. But pre-February-2022 Ukraine is dead. They were on their way. And they'll be again, no doubt. These soldiers now are not fighting for a corrupt society but a better future, within the EU, within NATO. Ukrainian Oligarchs wouldn't be an option.
I support Norway looking out for itself first. A country's responsibility is to it's people first. Ukraine can come after that if they choose to do more. Norway didn't start the war.
Profits made form oil go to the fund, then around 4% of the profits from the fund, goes to spending by the government. It is a way to not be reliable on oil. Around 8.5 billion nok for humanitarian aid and 4.4 billion nok in military aid has been given to ukrain so far by norway.
Yes - the fund will exist for many generations to come. If the stock market falls, shares are bought up to maintain the 70/25/5 formula at all times. (Shares are 70%) and sell bonds. At the same time, the $120 billion Norway get extra in 2022 is used for shares in a cheap market.
Contributing to EU is a very unpopular opinion in Norway. And even though the oil company is cashing in massively, it's doing what they have always done, which coincidentally is the same reason Norway Oil be came established. They took advantage of the market due to geopolitics. They are taking criticism for their insane profits, because it's due to the Ukraine war, and in one way blood money. And even if the oil fund is doing well, the Norwegians themselves are struggling big time due to low wage development vs. price development.
"Will the money in large part earned due to the war be of use to the Ukraineans, or will it be put into the -fund? The supercool answer is that this is not a dilemma, leave the money in the fund(as intended) and let the fund managers find investment opportunities in Ukraine + in Ukrainean interests. This way everybody wins, without sacrifising the pension fund. I don't believe I'm the first to have these thoughts, there are some stumbling blocks, if the government decided to intervene in the -fund' investment decisions, the trust in the fund would evaporate. The crux here is that Ukraine must become a financially attractive zone, or the -fund must find an oppurtunity to make a significant allocation, that makes sense financially...
@@gee8883 there is though? the "point" in funding the successfull venture would be that the investor would be able to influence the business/corporation/etc. hence being able to stop or at least hinder morally(and therefore PR-wise) indefensible actions, this is at least one major PRO point/argument btw, just in case anybody thought so- there is no probable scenario where there are no oligarchs/chaebols/disgustingly wealthy people with less than likable personalities, in Eastern Europe or any other part of the world for that matter.
The truth is that when times were bad for oil and gas in the North Sea, the Dutch and British stopped investing. The Norwegians continued, and now we are being paid back for this risk. Poland's prime minister just has to sweep at his own door.
As Norwegian citizens, we don't care much for wealth, we save ourselves for poverty. It's okay to help others, we like it, and human rights are incredibly important. We all came to earth as equals and the earth belongs to us all. I just wish the authorities would reinvest in Norwegian companies. Now everything is made in China and we feel it in the public sector, which is falling into disrepair.
This is a good video but I have to say, I will forever be indebted to you Gardner 😇you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment in money market, thanks so much Mrs Rose Gardner
As a high school teacher, I got introduced to Ms, Gardner during the pandemic year, I cried about challenges I was facing here in Ireland, during my time working with her, I was able generate returns on my investment.
I had little knowledge on predicting the stock market, but with Ms. Gardner weekly analysis and advise profits are guaranteed! I received thrice my initial deposit in a week!!
Early this year, I came across her, fortunately I decided to invest with her firm, I asked concerning losses and her words were, they company has insurance on deposit for deposit above a thousand, that's not found anywhere
What you’re saying is interesting, have been struggling with retirement for 3 years now, I need try something different, the prices of things keep go up, how can I reach this woman please?
As a norwegian I strongly dissegre with the fact that we should give more. We are giving so much right now. Our entire industrial industry is running on overload to support europe. Our electrical prices are up 300% and 1000% some places. Its damn time we start thinking about our self.
Share some of the funds with whom? Why Ukraine? Germany own Poland 1.5 Trillion Euro in ww2 compensation. Germany also owes Norway 0.35 Trillion Euros in war reparations which the country never received but was forced to agree to, in the same way as Poland was through the Soviet.
I support Norway looking out for itself first. A country's responsibility is to it's people first. Ukraine can come after that if they choose to do more.
I'm not against Norway stepping up and donating to Ukraine, I'm totally for it. But let me get this straight: Russia cuts its gas supply to Europe, causing a huge shortage in the market basically overnight. I'll repeat it - there is simply not enough oil and gas in the market. But hey, lets get angry with Norway and the other suppliers who are left to fill the gap, even tho they didn't create the supply shortage, weren't prepared for it, and also don't have the power to regulate international gas prices. Norway should be really ashamed of themselves for what Russia did and pay reparations to Ukraine (why to Ukraine in particular tho? Did the international gas sector bomb Ukraine? Or was it just the Norwegian one? When did this stop being about energy crisis and start being about the destruction in Ukraine?). Did i sum up the logic accurately?
The fund is almost at 13 000 000 000 000 Norwegian kroner today. For $ divide by roughly 10. That is quite frankly an insane amount of money which equivalate to about $236000 per inhabitant.
No it can't even save its own people from poverty. Norway has 1250 billion US dollar pension fund in stocks and still 1 million people are abound to be thrown out into poverty.
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Can you make a video of how China uses its soverign wealth fund to influence companies?
Scammer
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@@Selfmade99900 lol 4 real sounds like a scam. What peop\le dont get is all these "sponsers" are just kick back program affiliate referral programs. You buty with their link, they get 5-50% of the purchase in their pocket. Very few youtubers are actually sponsered.
The art market is run by a cartel of auction houses. If they are inviting in the plebs it is not to share in the profits!
If those values are Human rights, Transparency, and Pay equality, then I am more than happy for those values to be imposed anywhere by the sovereign fund.
gender wage Gap Is a myth
Given other large funds like the Chinese and Arab are from countries that have dubios values, it's not a bad idea to import Norwegian values in global companies.
only if they don't go over socialist on their values... people need to earn big for working smart and hard.
For sure but they only have around 1-2% shares in all large companies
@@piuthemagicman again with these "duuh norway socialist" comments, for fucks sake
Especially then it is, because it will incentivise these countries tp do the same. Then we have some state fund share voting wars or something, nobody needs even more politicization of everything
@@VinyZikss as an American I agree with u
i think fighting against pay raises and packages for the wealthiest CEOs of companies whom, comparatively underpay their average worker, is a moral choice, not a political one.
It`s also a financial one, a wealthy, healthy and happy population that spends more money is also bringing in lots of tax money, which can be used to fund infrastructure et cetera, further facilitating tourism for instance, or a more effective and reliable public transportation system, again increasing efficiency and attractiveness, which again, brings in more money.
Norway is a capitalistic country after all, it`s just that our model of socialism is so different from most of the world that people might forget that fact.
Yes to Norwegian values! NO to Qatar and Saudi Arabia. So please Norway, influence with your wealth as much as you can, we want to be more like you. You can really help mankind to be better and live better.
Are you from Croatia? 😂
Well, I agree, but our government wanna stay in their shell, so inflation stays lower here back home.... But it feels like these guys don't know how much money we are earning from all these high gas prices.
Virtue signalling doesn’t help.
Norway doesn't want to share more than it damn well needs to unless forced. We have turned into greedy self served nippers only listening to investors... Not the people. SLAVA UKRAINE.
but yes to china! alot of money there so!
What’s with the random critical undertone here? Finally a country with decent ethics has a bit of impact, definitely better than the corrupt government and financial institutions wreaking havoc on the world.
I hope Norway’s SWF grows 10x and their activist investing approach 10x as well
While making their own people suffer by charging 10x more for electricity. I did not ask for that, no norwegian person did. That is not ethical.
@@majestic-domination The electricity prices are high only because you're exporting electricity to continental Europe. Supply and demand.
@@XGD5layer Not really true. We've connected our electrical network to Europe via the ACER agency of EU which specifies how the trade works. By following the rules, the Norwegian electrical companies import and export to a much larger marked which effectively raise electrical prices to European prices, even though the Norwegian states have a large enough supply of electricity that it could have far lower prices if it didn't adapt to an external market.
That the Norwegian state is not using it's strong bargaining position to demand our own internal pricing (like France is doing with it's own internal supply of nuclear power) is the problem here. People in Norway can't figure out why we're just blindly following EU rules. All their appeals to the ACER deal we've signed just sound like weak governance to us Norwegians who are incredibly displeased with the Norwegian government parties which now have record low approval.
@@perman07 I don't see how any of this makes my statement false.
@@XGD5layer Because we could export electricity without importing prices in a number of ways. France has shown it's possible. That the ACER deal would lead to larger internal prices was foreseen by many prior to the deal, but the proponents rejected that and still reject that for vague reasons the population don't buy. There seem to be vested interests in the state and electrical companies to do this for larger profits. They are making money at the expense of a population and infrastructure which has adapted to cheap energy prices for the last half a century. We use electricity for heat directly and are dependent on it.
Just straight up withdrawing from ACER might even be better, and if our strong bargaining position doesn't work out, we should be willing to do that.
norway is the frugal friend that allways has money, because they save and are smart with what they spend on. they dont live a huge life style and dont splurge on fancy stuff.
central europe has been the friend that spends their money as it comes in, they are not broke but their bank account is allways running on empty come pay day. they have nice stuff, new cars, clothes, a nice watch. do give some money out but are quick to get money loaned back at any cost.
now the economy has changed and things aren't going well.
the friend that saved and live frugally live comfortably, the investments made pay out like allways and there is no fear that its not going to be enough to go around. even some good income from good planning and fortought.
the other friend that lived month to month and lived a life of spending feels the pressure mounting and looks to his friend in envy. why cant he share more of his wealth, he even is making money while you suffer. this is unfair. he should give of himself freely now that you need.
Sure it affects us in a lot of ways.
Gass prices went from 15-16 NOK to 23-26 NOK for petrol for example.
Many have decided to go over to electric cars as a result or can't afford to drive much at all.
Prices for building materials, plumbing parts, electric components, etc. Have skyrocketed.
Ensuring that nobody wants to build anything at the moment.
Food prices have increased drastically for most anything you find in daily stores.
Packaging is also smaller.
Then there are the problems for farmers and small businesses, everything costs them more. So much so that some just give up.
Especially the crisis with electricity. So many thousand tons of vegetables were thrown away because storing them costs more than it is worth.
The high price on electricity has hit the average Norwegian and the more poor ones the most.
Now they have it hard to keep things together at all.
Over to the topic at hand.
I do not worry about how the wealth fund is being managed.
Most here prefer a small loss of revenue to improve human rights if that is a choice.
You might say it is a case of: "Id rather have a straight back and be poor than bowing and scraping as a rich man."
CEO's have to accept that when someone buys into their company, they might wanna make changes.
Not everyone out there care more about making money than the welfare of the workers under them.
As for the large earnings we have now, I hear a lot might end up in Ukraine to help rebuild.
Probably not in straight-up funds, but probably in essentials the country will need to get back on its feet.
Materials etc. Some money will probably be sent but with Ukraine's history of corruption, it is more likely to be in things the people of Ukraine actually need.
For example: Already poor people in Ukraine before the war, will not be awarded with a million dollars because we earned money on their war. Rather they will get what they need to rebuild, and probably then some. However, treating the poverty issue in Ukraine is not our job.
Norway is a country that clings to moral ethics, that is our weak spot you might say. All the other countries in the world earning money on wars here or there, or crises elsewhere in the world, do not pay reparations to another country for it.
But Norway just might.
However, public opinion in Norway might turn around if we feel too many outsiders pressure us and accuse us of this and that. Most in Norway already were in favor of sharing some of the earnings with Ukraine to begin with. However, that is a case of charity, not something owed.
It is important people understand that. Norway is under no obligation to do anything, as it is a sovereign nation, and the oil, gas and energy it exports belong to Norway alone.
Same as the UK or the USA is under no obligation to pay anything to the wealth they have earned from their history of colonization. Bring that debate up with previous colony states, and you will have a chat war.
Norway however owns what it exports, it was found and produced here.
So if we by chance earn more money on gass and oil over a war that we have nothing to do with, and even send tons of relief aid to in the first place, that is our problem to deal with.
If public opinion is(with the way it is now) to share the wealth with a destitute Ukraine, then that is what we will do.
However people making demands on what we do with our own money, that is not something we look kindly on here in Norway.
Well said.
Yeah, well said.
Beautifully described
This tbh.
That's the truth every sane person will agree upon
If you think that criticising the gigantic and evergrowing pay gap between CEO's, managers and the rest of employees, is a bad thing, then you don't know the first thing about economics. These pay gaps are one of the greatest threats to global stability and the functioning of capitalism. The Norwegians are fighting for a laudable cause here.
Yes exactly this guy is trying to put a negative spin on it by calling it "influencing companies" when it's actually Norway using their privilege for a good cause which is something very rare.
I feel Norway is being glorified. Although our country is rich in resources, there are very few rich people in Norway. The majority belong to the working class, even if the amount of the average income is slightly higher than in some other Western European countries, you also have to remember the insanely high price level in Norway.
To assuming that we are richer than others in the western world is very misleading, we have a much higher cost of living than most other western countries. We have a partially subsidized healthcare system, but this is nothing unique or extraordinary for Norway, this is the same in many other EU countries.
Deductible for outpatient treatment, and free accommodation in hospital, this offer can be found in many countries in Europe. And one would think that the teeth are not part of the body in Norway. Dental health is not subsidized by the state, here you pay 100% of the price yourself, the state pays 0% of dental health after you turn 18. Norway has also gone downhill in recent years.
We are in what I would call a financial crisis, although the media does not use that word. At one point, electricity became ten times more expensive, the price of petrol exploded, food has also become much more expensive, and housing interest rates have exploded, all this in one year. Despite all the price increases, and the fact that our currency is in inflation, the money has lost a lot of value, the amount of income is exactly the same. The poverty rate has always been low in Norway, but it has increased in recent years. A few years ago, 7% of the population was poor, now 10% of the population is poor.
Although Norway is rich in resources, there are very few rich people. The working class is the majority, the other classes (middle class, upper class and lower class) are minorities. People think we are so much luckier than the other western countries (some western countries are exceptions, e.g. the USA and a few others), but otherwise it is not better here than in other countries in the first world, but of course better than in the second and third world.
I have no goal of becoming rich, money is not the main key to having a good life, the most important thing is to have enough. I know a Spanish/Norwegian couple (Norwegian wife, Spanish husband) who have lived in both Norway and Spain. Spain has less natural resources than Norway, but the people who live there are no poorer than Norwegians. They earn less, but at the same time it is cheaper to live there, so it will be a similar standard of living, the majority of Spain is working class, the majority of Norway is working class. Poverty is a minority in Norway, poverty is a minority in Spain
being lucky in life is more than money. Money is not the main key to a good life, having enough to survive is the most important thing, but it is very provocative when people say we are so extremely lucky, people who have never been to Norway, people who have only read about Norway on the internet abroad.
I am told how lucky I am abroad, that I have no reason to be unhappy or depressed, no matter what. It is more than just money and politics that play a role in whether life is good or bad, mentality and the weather and what you have experienced in life play at least as big a role in whether the life you live is good or bad. I think you have to assess whether people are lucky or unlucky from person to person, and not from country to country, not from wallet to wallet. It is difficult to define who is lucky and who is unlucky (the exception is someone who is starving or someone who lives in a war zone), but if you are not starving and do not live in a war zone, then it is difficult to say who is luckiest and who is happiest, it also has a lot to say with whom you are surrounded with.
I am Norwegian and have always lived in Norway, am I lucky? No, at least I haven't always been like that, I've experienced a lot of pain in my life, grief, trauma, two traffic accidents, been treated badly by many people, actually also by the Norwegian system several times, so even though I live in Norway, so I haven't always seen myself as lucky, I feel neutral now, neither lucky nor unlucky
I have also experienced to not having enough money to primary necessary things for a while in a period, and at the moment I can not afford dentist, and I have an avarage income
As a Norwegian, with low income, father of 2, soon to be 3, and a hard disease to deal with. Paying for energy is astranomicly high, were att 1100% increase since 2013. And this is a cold country. Even tho Norway produces enough energy to not have to make it's people suffer, it's selling it's energy to europe and charging it's people this insane amount. Apart from Ukraine that is getting it's infrastructure blown up. How bad is it in rest of Europe?
well, given that idiot countries like Germany decided to shut down their own nuclear reactors in favor of gas from russia you could say that the only thing making sure europe doesnt freeze to death this winter is us. Germany voluntarily cucked itself and is now coming crying to us for power because of their own retarded mistake, and prices are up alot so prolly on par with yours in terms of bad. i'm on AAP now and currently living 2000 nok under the povertyline and the only thing keeping me from having to go vikingmode this winter in the wilderness is having power included in rent.
Yup, it is the only thing my parents are talking about now…
This is simply not true, and your numbers are waaaaay of... Even tho the spot-prices are as high as in other european contries, we get a fixed discount on our utility bill. In other words, if we take todays prices vs ur example that the spotprices are increased by 1100%, what you actually are paying is increased by about 200% since 2013.
@@ekstrasterk are u even from norway, it is true unless u live in the north of norway where the prices at max a 3000% cheaper than the south
We have similar issues in Sweden with sky high energy prices. So many industries are suffering with high energy bills and will have to cut down on personnel to survive. Most people can handle their household energy bills but if they lose their job they are in big trouble.
How has Norway managed it's oil wealth? Wisely! How does Norway compare to other nations regarding quality of life? Always in the top tier!
As a role model, Norway shines.
We are five million people, and we are able to make ALOT of oil and gas. If we where not at the top something would be wrong. If we can't be at top, who would have that abilety?
I strongly disagree with you. Where is the proff?
@@bell4textu973 found it?
@@berntmariustromsdal9215 Many countries has made a lot of money on oil and gas. It's the way it's spent (or invested) that is difference between Norway and the rest. Norway could easily have ended up with the dutch disease.
Unfortunately, it is not as bright as it might seem. As a Norwegian citizen, I regret to inform you that the mass inflation, gas and electricity problems are just as bad here if not worse than in most other european countries due to the extreme costs of living not going down. Poor people in Norway have been directly backhanded in their heads and our own government isn't listening to the people's protests.
Why are our electricity bills so astromonically high, even though we're one of the wealthiest nations in the world? Well, while our country might 1000% be able to support it's citizens with the amount of money we've made, we choose to spend it on supporting foreign countries while our own people are now, more than ever starving on the streets!
Norway as a role model, might be better than America, but our government for sure isn't the hero we need.
Oh no! Unions, equal rights, fairness! THE HORROR!
Norwegian values on companies cant be bad right? Like workers rights, unions, stable income and job security and not stupid high ceo pay. Writings this while i am drinking as a Norwegian
We love Norwegian values, it’s the govts, oligarchs, CEOs and dictatorships that didn’t like it.
Heck, I want to replace my govt with a Norwegian colonial govt instead.
It's true, however the country Norway and its people has _always_ been one with little aristocracy, that never got entrenched, and the people and the country is one and the same and even leaders are _for_ the people; the people aren't _for_ the _leader._
This is a concept that is very hard to grasp for a surprising amount of nations and peoples.
@@hkchan1339 Our energy prices are through the roof if you dont have a high paying job here u will most likely only barely be able to pay the bill and you will need to survive on 1000kr-2000kr (100-200$) here each month which gets you basically nothing.
@@lyneo3247 Why are you making stuff up? The social security rate (sats for økonomisk sosialhjelp) a person with no other income gets from the government is 6.850 kr/month, PLUS free rent and free electricity.
If you had a averagely paid job at 575.000 kr./year (median salary) and lose it, you will get about 23.000kr./month AFTER taxes in unemployment money (dagpenger).
You also don't need a high-paying job to pay your electric bill - yeah it has become much more expensive, and it is tough for the poorest but most people manage just fine.
Zero Corruption and Zero oligarch is the reason most population benefit.
We have corruption, not much speaked about. "Kameraderi"
@@philip4588Yeah corruption is everywhere, but there are insignificant amounts compared to any other oil nation. Norway has some oligarchs tho.
@@Jonas.856 Kind of...
Thing is, Norwegian "oliarchs" have limited power compared to the ones in other countries.
And they're *not* looked up to by the Norwegian society at large.
Any activity of theirs that's not for the benefit of society at large or strictly above board normal capitalism is scrutinized closely and *will* be judged.
@@Luredreier their greatest means of power is .... "I am moving to Switzerland "
Few or non oligarchs have benefitted from oil and gas. Most of them are either in real estate, shipping of fishing Industries from many generations back. In other countries like Saudis, Russia and America its daylight robbery. Persants become overnight millionaires
Norway using its wealth fund to highlight values is important. Getting energy from Russia or letting companies or countries that abuse human rights manufacturer everything is more than just morally wrong, it's dangerous.
Regarding the support for Ukraine, Norway is in terms of % og GDP by far outgiving any other nation in the world. And mind you, our GDP is very high as well, thus the money given per capita is astronomic compared to any other country. Also, most of what we give is not surplus weapons pulled from the dismanteling lines or storage, but fresh hard cash.
Meanwhile the US claims to have "given" 80 billion dollars in military aid to Ukraine. But they often forget to include the word "military" when talking about it. Which leads many americans to think the US has taken 80 billion dollars out of already thin budgets and handed it over to Ukraine.
While in reality, they are giving away old military equipment, counting the price from when it was new, scaling it up to todays crazy american military evaluations, and then claiming to have donated that amount to Ukraine.
given to the most corrupt government in europe
This, hard. Not only are we have been *DUMPING* money and other things into Ukraine since the very start of this conflict but we're currently the number one exporter of natural gas in Europe, and by that extension the one and only thing separating the rest of Europe from blackouts and power-rationing. the fact that the Polish PM has the balls to complain is beyond me. Yes we make shittons of money of the war but that is literally just the outcome of having to supply most of a goddamned continent, but we've also tried our best to make sure they dont freeze to death this winter. with the baltic pipe we are direcly responsible for Poland actually having power this winter, and will in a few years deliver them roughly 50% of their annual consumption.
i think only usa given more than norway ...
@@janolavborresen3893
Thats a very wrong thing to think... When they say on the news in the US that Biden has given another 40 million, another 70 million, another..... I think they are up to claiming to have given 80 BILLION in "military aid" to Ukraine now.
They often forget that little word "Military aid" Not aid, but military aid. So what happens is. Biden and his guys call around to every army base they run in many countries. The US has like 4-5-600 operational army bases around in different countries. So they call them up and ask if they have some old military equipment laying around that they dont need. Things they arent using.
Such as missile systems, trucks, anti-tank stuff. Not actually tanks or very offensive weapons. Mostly defensive in nature. So... Then they calculate how much that equipment cost 12-15-20 years ago when it was new, then they scale that up to todays money. And then they claim to have given that FICTIONAL sum of money to Ukraine. Other countries do this too, but only USA wants to brag about the enormous sum.
And this has lead to a lot of american "lefties", liberals and right-wingers alike to react to this with a sense of.... Wow... Giving away all that money. Surely this money could have been better used to fix poverty back home. --But even if CNN, NBC, CBS, all the cowboy amateurish news outlets SAY this is money, it isnt. News channels dont do virtually ANY investigative journalism anymore. They never look things up or do in-depth interviews these days. Its more important to generate clicks, likes, and ad revenue. So they dont tell you that this is old military equipment. Not money.
Nobody in their right minds would ship billions of real money to Ukraine. They were one of the worlds most corrupt countries BEFORE the war, and certainly dont have the infrastructure to handle that stuff now.
And when the US DOES give real money as aid, its always in the form of printed dollars. Its easy to give. When it doesnt have to cost them anything. When the money doesnt have to come out of already thin school, road, social budgets. Dollars for war is always just printed.
In fact... This is a shocking bit of statistics that was just revealed. 80% of all the dollars in circulation... Was printed out of thin air in the last 2 years. To cover up for the US actually being in a massive recession due to covid right now. And the money always ends up in the same hands. The rich get richer. Which is why a Lamborghini in California today costs TWICE as much as it does in Europe. Crazy inflation.
Fun fact: 54% of Norways wealth fund is from dividends, while only 28% are from inflow from government (oil). The rest is from currency.
Does that 28% also include natural gas?
Correction of terminology: most of the fund is from portfolio growth (of which actual dividends are a small portion).
But overall your breakdown is wrong lol.
Fun fact: 80% of the remaining money was solely raised by your mom walking the streets of Olso at night...
Capital growth, you mean - not dividends.
Your not good at maths are you ?
With as strict of morals, as to whom they invest in or not, I'd assume once this war in Ukraine is over, Norway will be looking on where to invest in Ukraine. Will they, in the end, profit from doing so? Of course they will. But, so will Ukraine. Norway is a classic example of, "You don't have to sell your soul (morals) just to make money." People should take note, and learn from their example.
We've already promised to invest billions into the Ukrainian rebuilding...
So has Sweden and Denmark.
It's probably still going to be a really slow process.
But Ukraine won't be alone in the rebuilding process.
There have been talks about simply giving all the "profits of war" to Ukraine. That is already over $10 billion - and could by much more depending on how things evolve.
@@jarls5890 That would be generous. But, I was thinking more of investing into Ukrainian businesses. In many cases it's a long-shot and risky. But, there's venues Ukraine will be needing investment help. And while this video stated that Norway doesn't invest in another country's oil & gas, Ukraine does have major amounts yet untouched. And what better, morally right, then to have one EU member help not only another EU member in becoming prosperous, but also helping EU (as a whole) become more energy independent? You know, Norway is the EU expert in that field...
@@michaelwittkopp3379 Neither Norway nor Ukraine are members of the EU.
@@dafydd1722 😮I knew Ukraine wasn't, but has applied. But, you floored me with Norway. And you're right. They're one of three EEA EFTA states. (So, about as close to EU as can get without being actually a part of the EU.) You learn something new every day...
What the Polish Prime Minister conveniently choose to obfuscate, is how the oil handling here directly benefits people, how people here are among the richest/happiest/highest standard of living in the world, including his Polish contract workers that have been working here for ages, and *LAST but not LEAST:*
Norwegians are one of, if not _the_ most avid volunteer workers and charity donaters per capita *IN THE WORLD.*
Norwegians have been sharing the wealth with _those who need it_ for *FOREVER.* Thank you.
For comparison, the most charitable state in USA is Minnesota. Guess whose population migrated there? And still the average Norwegian citizen gives _10 times as much per capita_ than them.
"Share the wealth" yeah. What a senseless, irrational, badly placed and timed, and insensible comment.
What have we done military for Ukraine? Well you can check what is given per capita easily or calculate yourself. And that is only the *STATE.*
And not even including charitable organizations or companies. Donating food, clothes, appliances, generators.
Our postal service here, on their own volition, made it _free_ of charge to send packages to Ukraine.
Because that is what people want and that is what people are doing.
33 000 Ukrainians have been taken into high standard living places or private homes.
I feel like it's pointless to go on.
Just know that if you're to take a jab at one of your brothers, you better make damn sure that someone won't piledrive you with a reality check. Lol
Edit: Oh yeah and there's our 2 billion project off the top of my head to ensure Ukrainians have enough gas for the winter.
Poland is emerging as a global and forward power. Perhaps it's time to attribute some credit to the Polish _people?_
How much resources did you give to Ukraine, Duda?
After all, it was they that helped their Ukrainian brothers, not you mr. Duda.
You're welcome for the new pipeline by the way.
I really love the Norwegian Sovereign Fund pressuring the manager pay gap.
The Monopolies of Wall Street: You can’t stop me!
The US Government: I know… but he can
*Norway appears*
You can’t stop the wall
😂😂😂
Monopolies: *No!*
After watching this video….. God (or Odín) Bless Norway 🇳🇴.
Norwegian ethics seem to stand out as a positive and I wouldn't be surprised if they use some of their new found wealth to aid Ukraine but If their business model is anything to go by then it won't be in cash, it would make sense for them to set up a managed trust fund in which Ukraine and themselves would both benefit from and the profits aid Ukraine for years to come.
It wouldn't be out of the Question for Norway to invest heavily in Ukraine's oil and gas reserves with drilling etc once the war is over as it could use its knowledge in that field that it has, Also with duel management Ukraine may well adopt Norway's business model and become more powerful itself that in time would make Europe's gas and oil requirements easy between them and other producers within Europe without ever needing Russia again.
supporting ukraine is mistake, because its not the reason that war is in ukraine. there are so many things you dont get to hear in your media, so many things are hidden from public, but i will say, zelenski is war criminal, US puppet, and it is in US favor to create war with russia, because thats the whole point. Thats why zelenski fired missile to poland, to provoke world by saying russia did it. War in ukraine started with revolution when usa overthrew ukr goverment and installed the puppets. Yes bidan is deeply involved in it. But sheep will learn things the hard way and its going to be hard for them to swallow all the information. I have not hear a single word in norwegian or europian outlets how US tax payer money ir laundered in ukraina and sent back to democrats and used in midterms. i have nor heared a single word from norwegian outlets about BIO labs russians have destroyed in ukraina, that was sponsored by USA. Yes USA admited they have BIO labs in ukraina which were creating bacteria and viruses. Yes its official. None of you seem to remember the deal when USSR collapsed, that NATO will not move to russian borders. ukraina has to be a EU and NATO free zone like cuba in cold war. You think you can win war against russia? You cant, because none of you will get involved anyways, you just send money and weapons to corrupt ukr government and what they do? steal the money and sell the weapons.
The aim is to participate in the rebuilding of the country. What it is doing now is humanitarian and medical support along with other countries. This war is also a tragedy for Russia.
We are investing in Ukraine and have big plans to help rebuild the country.
There is already plans for the rebuilding of ukraine and who helps with what part. Don't remeber what part norway was going to help with, but I believe it was to rebuild the energy sector.
Norway have already given billions of kr to Ukraine for humanitarian and military needs to buy things.
They have also and keep donating weapons and more, they don't confirm sending anything before they know it has arrived in Ukraine
Our Sovereign Wealth Fund also has a policy to not be any major stock holder in any company. We have a policy of not gaining such ownership that we affect the company policy / direction. Also worth remembering that it is our state and government who are the profiteers, not the general Norwegian population. The cost of living are rising here in Norway also, especially electricity and energy costs. Politicians has built pipelines to export gas and electricity to foreign nations, but doing so even if it's against the our constitution. The contracts established with EU (which we're not a member of) effectively promised away much of the energy produced by our renewable water sources. The same agreements forces european prices on energy on the Norwegian population as well, we have to pay equal/more for energy even if we are the country producing it. The last hundred years Norway has transitioned it's society to depend upon cheap energy (we don't use oil and gas for cooking and heating) and according to our National Sikkerhetsmyndighet (national security authority) our dependency on electricity is our biggest security issue. The average household in Norway use about 3500 kw/h a month and a lot of households can't even heat their house without it. There is a rising number of households and small companies that are having a real hard time staying afloat under these circumstances.
My impression is that the general Norwegian population is pissed on our politicians and most of us want to reduce the amount of electricity exported, due to possible shortages and exploding prices here. We've had prices as high as 4-5-6 NOK kw/h and on average that is about 14-21K NOK a month in electricity bill (aprox €1350 - €2000 a month for electricity), worst estimates told us it could raise to 20 NOK kw/h (€6750 a month for 3500 kw/h usage). Our government has introduced policies which hides the cost for normal households (not small businesses) by paying back 80-90% of the electricity bill using tax money (which is our money also). The energy companies and foreign investors (which for some reason the politicians allowed investing in Norwegian energy infrastructure since 91) are the profiteers. I highly doubt the politicians were allowed to sign these contracts with EU, as our constitution prohibits it (it prohibits reducing Norwegian sovereignty to foreign countries and/or institutions, which they've done by allowing EU established organizations to control much of our energy infrastructure). To my knowledge those politicians have effectively committed treason.
My guess is that if our national policies reflected the opinions of it's citizens more, then we would export less energy (not gass) and we would have not been apart of the EU energy pricing model. Why should our prices explode because of bad policies implemented by UK and German politicians (by shutting down local energy production)? It's not that we don't want to export, but we have to maintain national security first and foremost and a pricing model which is sustainable for our citizens (€1350 - $6750 a month is not!).
The prices are OK now, but still many small companies struggle - and the winter is not here yet. Start up your powerplants again!
They are exporting also electricity to UK. They have 1000s of rivers producing alot of hydropower.
Which makes the electricity in Norway more expensive ;)
@@TheMicromalist but the thing is. They can pay so they pay. With such atitude they educate people to save and invest.
@@TheMicromalist does it really matter if the country makes a kill out of it and can support you if you can not pay the Electricity bill. Most working Norwegian can pay only students can not afford.
@@David-gy6fv, Electricity bill was very high for a while, but it is more then managable now
Now that electricity has also become more expensive in Norway, Norwegians get 90% back from the State on electricity prices above Euro 0.065 / KWH
The Norwegian system is based on social democratic liberalism, and they prioritise workers rights in the companies they invest in. It is extremely different from pure socialist or communist systems of governance. As the sovereign wealth fund recognize the value of the free market, but also try to compensate for the bad incentive structures inherent to big company structures.
Only americans dont understand the difference between social democracies and communism. And you will never be able to explain it to them. Because they were bottlefed that scare tactics since their grandparents were teenagers.
Explaining socialism to americans is like telling them to pull their pants down in church. Its not illegal, but they just know to the core of their souls that you shouldnt do it.
The Norwegian government today announced a plan for a future cross-political long-term agreement on economical support for Ukraine. They haven't announced any numbers for this, but they will be in cooperation with other NATO and UN countries, and proposals on support will be announced in the beginning of 2023. It was also official today that Norway is invited to the next emergency G7 summit to be held today in regards to Ukraine.
Far as I can see from this documentary Norway is playing an important part in raising standards across the wold. Keep up the good work lads & lassies. I hope they will support Ukraine as it is so cruelly victimised.
Norway IS supporting Ukraine. For example, the total foreign aid spending was 40.1B NOK in 2021. Norway is now giving an extra 8.3B NOK mostly to Ukraine, though a small portion goes to neighbouring countries (mainly Moldova). In addition, Norway is also spending 10.7B NOK on receiving fugitives from Ukraine.
In other words, we (Norway) are spending almost 50% extra foreign aid, just to help Ukraine.
Frankly, it pisses me off when "everyone" wants Norway to increase spendings to save the whole world. For DECADES we have been the country giving most per capita, and the last years we've given DOUBLE of what other contries gives, ie Switzerland, Finland, UK and Belgium, AND over FOUR TIMES as much as the average for OECD countries. And that's BEFORE we decided to spend 50% extra.
@@johnnymartinjohansen that is wasting taxpayer money. those who want to support ukraine, go to ukraine and fight the war, dont spend ppl hard earned money. I didnt say yes to them to send my money to ukraine.
@@padlasvillage It's OUR money, not yours. And the VAST MAJORITY of Norwegians wanna help, so we do. You're outvoted.
@@johnnymartinjohansen its tax payers money, you and i pay taxes and ppl decide how to spend taxes, not when some corrupt lunatics throw the money down the drain to war criminals
@@johnnymartinjohansen i dont se most of norwegians supporting by fighting in the front in ukraine. You are supporting criminals and mark my words, they will go to trial
If you think it's bad for Norway to earn money from rising gas prices, then force your weapon industry to go non-profit.
We are not raising the gas prices. The market that we are a part of, dictates to us what we have to charge for the gas. Just like in the stock market, it is illegal to sell at a lower price than the most eager buyer is willing to pay. That's how the market works. The truth of the matter is simple; Norway does not have the power to change the fundamental rules of global market economy. We also didn't force Putin to shut off the supply and we did not force him to go to war. That is also a power we don't have. But you're right; someone always makes a profit from war and I don't think that GPFG is the worst, helping stabilize the global economy and investing in companies and infrastructure around the world, which will include Ukraine when this is over.
@@jeschinstad Sorry, I meant rising not raising.
bruh this comments should be on top
@@sevret313 we also have a weapon industry, that isn't non-profit ;)
@@diazinth True, but we're not the one saying that earning money on increased prices due to war is immoral.
When taking about the Norwegian sovereign wealth fund you should consider the old Greek saying: "A society grows great when old men plant trees whose shade they know they shall never sit in". The importance of not mortally wounding the fund can not be fully stated. It is not for us to milk dry now for short term gratification. Your quarrel here is with the market and speculation that sets the prices rather than with the one supplier in that market that acts with some ethics and morals.
To answer the question in the title: Norwegian politicians and activists expects Norway to save the entire world, actually...
Norway. - Probably the most Advanced, & Civilized country on Earth today.
Who would have thought those Viking would become to this 1200 years ago?
XD
Not sure, I’m pretty impressed by road system and underground in England, and Germany, Spain has also good transportation system. On contrary Norway as many dangers’ roads, Norway does not how train system that connect Norden to southern part.
@@kjetilhvalstrand1009
That's understandable. Norway has a huge land area with a small population. However, it is the only country where EVs sells more than ICE cars.
@@TheGolfdaily we have very little land mass, because most of our land are mountains
Good going Norway im proud of you all im happy to see Norway to get ahead !
Norway is becoming my favourite country after this video, more Norwegian values please
They are Scandinavian/Nordic values in general, and that explains why Norway, Denmark, Sweden, Finland and Iceland top almost every list imaginable. They are far and away the best places to live in the world. Norway of course being the richest through oil has an outsized influence in the global economy compared to its neighbours.
@@REDnBLACKnRED Yes i know, had some friends from Finland. Heck I’d vote to replace my govt with Norwegians if I could
@@hkchan1339 It helps to be a resource rich white western country with a small, homogenous population. Given the global political and economic system, they hit the lottery.
@@REDnBLACKnRED it’s not pure lottery, one can argue Venezuela is also a small oil rich country with a homogenous European Christian descent western country.
But look at how selfishness and corruption did to them in contrast to Scandinavia
@@hkchan1339 Venezuela is neither small nor homogenous. Europe is not homogenous, and immigrants from different European countries coming together in Venezuela does not make it homogenous just because they are white and Christian. Norwegians are just Norwegians, for centuries. And there are only 5 million of them compared to Venezuela's 28 million. Being a small, homogenous, yet rich population is a very rare combination that mostly just exists in the Nordics. And even that is changing now.
Just for information! Norway has helped Ukraine by alot to pay many of the workers in the government in Ukraine the salary and will also increase the expenditure.
And to mention the Norwegian state don't have any obligation to do so, but we would be helping out Ukraine anyway like we have been doing for so many other countries that has been in war.
Something else to mention is that Norway and the oilfund are two different things when we are seeing how much money had been making money last few years.
Would also mention one other thing is that. Norway and the sovereign wealth funds are two different things.
Norway did made about $150 billion in 2022
Sovereign wealth funds did made about $287 billion in 2022
So therefor Norway it self did transfer $110 billion to Sovereign wealth fund and has now about $1,440 billion (one thousand and four hundred and forty billion dollar) in savings. End of 2021 the Norway State had only about $50 billion in debt, but choose not to pay of the debt because ongoing expenses and it's always to have some cash on hand, and would also have some debt to show to the market that they can be trustworthy. We could keep going 10 years without any income just because the oilfund. How many other countries could say that?
One billion = $1,000,000,000
Importing norwegian values into a lot of companies with crappy values? I can't really see the problem. :)
"save europe"?
We`re under 5.5 million people, we can`t save half the planet, many Norwegians are freezing in their homes because of electricity costs, students can`t find housing, I am currently without permanent residence myself because of the lack of accomodations and skyrocketing prices.
I think we should focus on helping ourselves before it all goes to hell tbh.
You can`t help others if you can`t help yourself..
Men du har tak over hode, tenk egentlig over hvor godt du har det å hva du kan gjøre for å få det bedre.
TBH. I have a feeling 90% of your comments are from Norwegians :D
A side effect when you put the word "Norway" in the title.
We are always scattered randomly on youtube, rarely meeting, but if we meet it usually has to do with that word :P
I think thats true as i am also a fellow Norwegian, and i have a little tendency to watch many of those videos
Well, you watch ONE "american reacts" video and your feed will be fairly saturated with "Norway" stuff lol
Norway is an expensive country to live in so running a business here instead of producing in other countries and importing is a challenge. We have had cheap electricity from hydropower, but mismanaging this resource has caused it to increase apx 10 times (and has been close to 20x some places) the last year. For many businesses this has made profit impossible and industires/businesses have closed because of it. Those with low income have also faced serious challenges when your monthly expenses go up with 10-20% in a matter of months.
Do not think I'm overrating the situation when I claim it's the biggest crises since WW2. Norwegian industry suffers. Less work available. And where ever this income is going it is not to those who desperately need it. The whole Norwegian economic ecosystem is seriously destabilized
The Great Reset/Green Deal will be the final nail in the coffin, just wait and see. You've seen nothing yet. These globalist traitors will destroy us all.
Lol we get subsidies from the state to cap electricity price at a reasonable level, no one are going bankrupt or getting poor.
I am Norwegian I think the management of the electric power has been very good. Both for Norway and for the rest of Europe. Basically, Norway has exported electric energy this year like almost every year. But the prices of energy (especially electricity and natural gas) in the whole of Europe have gone up due to the Ukraine war and this also (obviously) affects Norway. Norwegian unemployment has gone DOWN from 3,6% to 3,2% in the last year (October 2021 to October 2022). Norway is doing well these days, despite the war and economic turmoil.
@@arnulfrefsnes Yes exactly, the government is acting very responsibly, but a lot of people don’t understand economics and inflation, and don’t understand why we can’t just pour money on the problem.
there will always be 1 or 2 of people like you. Its about the overall scale not few people disgrundled and comparison with other like-minded countries
people in norway are starving because of electricity export. People in norway have to use electricity to survive winter and the industry in norway are very dependent on cheap power. Now it aint cheap and costs are skyrocketing. The state might get some cash in, but people are not.
Thank you so much. I didn’t know this about Norway.
Go on Norway, change the world.
Last time I checked, Norway owned 1.5% of the world's listed companies, not 1.3% as stated here.
Please, can the narrator be so kind as to speak a little faster, so that I can catch what he is saying?
Sarcasm ;-)
I'd rather work with Norway, than deal with unstable Elon
It's worth mentioning that Norway is the biggest contributor to Ukraine per capita, by a mile(as it should). So a lot of the extra income as a result of the war is directed back as aid.
Therefore I don't think it's fair to use the very derogatory term "war profiteer" for Norway. They were in this business long before the war, and they have never tried to take advantage of the situation, quite the opposite. Just because you happen to be in a market, that happens to see increased prices because a war erupts, doesn't make you a war profiteer. Or to put it another way, if Norway is a war profiteer then so are everyone else selling things that have seen a price increase because of the war, so basically everyone.
A war profiteer is any person or organization that derives _unreasonable profit_ from warfare or by selling weapons and other goods to _parties at war._
Is only one thing you can say Good Governance, I wish them all the best may who ever is running the country understands and plays their part .Great video too guy's
the politicians in Norway is corrupt, they have even been caught red handed.
Do another vid of how the uk used it's north sea oil revenue please.
Norway did not get rich of oil, but trust.
A better question is, what does Norway have to do with the destruction of the Russian gas pipe called Nordstrom? Do some research, then follow the money...
norway is the 5th biggest donor to ukraine i GDP percentage.. Countries like France and Germany is around 20th place. source: Ukraine support tracker.
Norway has a much higher amount in total value and in percentage of free capital at hand than any other country, it should be NR.1 in total value and it is embarrassing that it is not NR.1 in percentage, because that rank would be laughably easy to take.
@@freedomfighter22222 are you stating your opinion, or are you presenting a fact?
@@diazinth How are you even asking that in a video about how much money Norway has?
@@freedomfighter22222 People on the internet were also insisting that Norway should've poured the most resources into helping Syrian refugees for the same reason that you're stating. Their financial situation would've likely been very different if they were obligated to always be this incredibly selfless, 'Good Samaritan' that you think they should be. They're already investing more than most into helping struggling nations.
@@DillaryHuff Helping Ukraine is a strategic interest of Norway, I said nothing about doing it because it's morally right to do.
Pouring that much money into Syrian refugees wouldn't return the cost on investment, helping Ukraine beat Russia and getting not only Ukraine but the entire wests and especially eastern Europes favor would easily pay itself back in the next few decades.
Norway is the biggest MVP!
stop promoting a failing fin-tech company with a fake waitlist, this is seriously damaging to your reputation and credibility.
Can you justify dies clayimes?
Care to elaborate?
The biggest problem is that the fund cant be used localy in norway, as it will inflate the norwegian kroner.. And making everyone poor.. The irony of having to mucy money
Shame UK didn't do the same back in the 60's
Thanks, I learned something about Norway. Never really pay attention to Norway.
Norway are helping Ukraine in any way we can during this war, and we are defenetly going to help them rebuild their country , after the war. 🇳🇴
Helping with what? Self-propelling Howitzers from the 1960?
@@bell4textu973 Yes, but don't discount it. We've given them other things, lots of anti-tank weapons for example. Also, you do remember the NASAMS? No NSM for now though. We can hardly give away things that are limited by agreement (I imagine our old F-16s require US export controls, while the Leopards requires German approval).
@@bell4textu973 Last time I checked, Norway was the biggest contributor per capita of military supplies to Ukraine. That may have changed by now but it's still high on the list. I'm not sure if the NASAMS systems Ukraine are getting are included here btw. It's a Norwegian air defence system but if I understand right, it's the USA who is paying for them and tehy are manufactured at a Norwegian/Finnish owned factory in the USA.
@@bell4textu973 why sould u not give away old hardwere that is build to take on soviet equiment it cost to much to maintain old eq so might aswell give em away for a cause we support
@@bell4textu973 NASAMS
Great segment as always! Ukraine and the western alliance has a good friend in Norway. Just some details about that for those who may be interested. Last month the Norwegian parliament decided to give $7.4 billion to Ukraine. That could e.g. cover a respectable airforce. It's not earmarked for that, but it could, if 74 F35s is respectable. Also uniforms, helmets and protective gear, 4000 manpads, Mistral SAMs, artillery, NASAMS (with the US), armored vehicles, Hellfire missiles, drones and munitions, thousands of artillery rounds and eight Leopard 2s. In addition to that humanitarian assistance, ambulances, hospital treatment for wounded soldiers and training of soldiers and field medics. Also, in all fairness, many countries make some additional profits due to instability caused by the war, e.g. countries with an arms industry, that export agricultural products and who produce LNG, which best describes the USA actually. A fact that rather strangely seems underreported in the US, where voices are complaining about high costs while business is pretty good. There is a lot of money changing hands now due to this conflict. And there's a lot of cheap (compared to LNG) gas flowing from the North Sea directly into Europe.
As a Norwegian I think a lot of the extra income should go to rebuilding Ukraine once the war ends. Ukraine is fighting for Europe's democracies and independance. It's the least we can do.
It's natural for Norway to support and invest in Ukraine after the war, just like it's natural for us to support and care for Ukrainian refugees now. At the same time, you also have to remember that the reason why Ukraine is not in the EU and NATO, is because of too much corruption. That is why we couldn't defend them to begin with, so you have to nuance the picture a bit.
you do realize when the war ends, it's going to be Russia-owned state
@@archmad: That is extremely unlikely. What this war has revealed, is that Russian power wasn't perhaps a tenth of what Putin thought it was, because of corruption. The expenditures have simply been stolen. Ukraine, on the other hand, has friends with bottomless pockets.
@@jeschinstad keep praying it will end as we like it, but that's not how the mad man sees his victory
@@archmad: In chess, we have the expression that you can't win with just your hands. You need pieces. Putin's forces are completely inferior and now we're getting into winter, where obviously, the attacker is greatly diminished, making them even weaker. We now know with certainty that the image of Russian might was complete fiction and he has certainly not done anything to win the hearts and minds of the Ukrainian people. And you also shouldn't forget that he's starving his own people while doing this.
Norway donates billions all over the world. but the own lower middle class and the poor in norway can just manage it to get by , even middle class is now at the help food stations for free help. insane many road tolls to pay all the time and insane tax on the fuel sold to private and and and . well guess it looks good from the outside.
What's wrong with our fund sharing norwegian values in other companies, such as your example with Amazon's labor union vote? Why'd you describe that as disturbing, when the only disturbing aspect of your example is that we lost the vote
16:31 - Oh Norway 🇳🇴!
You really do shine in Europe!
We really ought to envy your anti-corruption egalitarian stance on the wealth gap!
Love from the UK! 🇬🇧
I wish we were as devoted as you in this regard! 😞😃👏👏
Maybe trailing very close behind you with the same principles is New Zealand 🇳🇿
Do you realize that the right hand of klaus schwab is a norwegian?
We should replace the clowns in our govt with Norwegian govt officials instead
@@peterp4037 in what way is that relevant?
What wealth gap? I hope to God you don't mean GENDER wage gap.
@@fred6907 That is also an issue we're trying to address, but for the last century, the gap between the rich and the poor has been an area of focus for most governments here. So much so, that it's kinda hard to get really poor. Which has a lot of benefits for everyone, even those who aren't as rich as they would be otherwise.
This is actually extremely smart.
Yes - the fund will exist for many generations to come. If the stock market falls, shares are bought up to maintain the 70/25/5 formula at all times. (Shares are 70%) and sell bonds. At the same time, the $120 billion you get extra in 2022 is used for shares in a cheap market.
Lønner seg at man ikke har kronidioter ved rattet når Nasjonen står ovenfor viktige valg. Kan ikke si at det skjer lenger nei…
@@lpdude2005 shares are fine, but more should be invested in the `physical realm` - factories, building up national brands, technical traditions and knowhow, more or less like germany. why? in case of a world wide war or disaster, all the current stock markets and global value systems might be wiped clean. suddenly everything is reset and nationalized, like russia now and cuba in the 50`s. people high up in the system live in a bubble and like merkels pipeline to russia, they can`t see the obvious flaw. we then start from scratch from what we have within our borders
Norwegian here. There is a big difference between our government and people. For instance, as everywhere else in EU, our SME's has been struggling without any support. Population and small private businesses struggle from inflation ( food, electricity and energy) while wages lagging.
Norwegian here you dont know allot about whats happening around us in europe do you? We still one of the countries with cheapest electric prices.
Well, Norwegian or not. First, countries that arrested Russian assets that were confiscated under the sanctions, should be converted into goods, services, and money to aid the Ukrainian cause. Other programs then should follow to protect democracy and prevent imperialism.
@@martinberg3970 hes not saying others Aren't struggling. Hes saying that Norwegians are struggling just so that we can help others. Maybe a bit too much. Farmers are losing their harvest, buisnesses are going bankrupt a record high of Norwegians are struggling financially and the government is not helping them this time because its "unable to spend more money in fear of inflation" its the first time in history the government went against the popular vote. This year has not been great for Norway and its people.
Yeah may be norway moves more money but stuff is so expensive on norway thats kinda as fukt as everywhere else... so yes enjoy paying 10 bucks for a beer. 😂😂😂 at least overhere its pike 2 euros... 🤗
@@peterpanini96 yeah okay, but heres the thing we make more. And pay more. But when we go to a different country for vacation its suddenly very cheap and we can do more so its a trade off that makes vacationing cheaper.
how could they have stocks in Nestle and then say they dont want to invest with companies against human rights?
I was wondering about that one too 🤔
The problem is thinking that money can buy you everything and solve problems. The money is the cause of the problems in the first place. Ever war ever fought was for the money/wealth.
The art market is going to crash hard if masterworks proves to be a profitable business model
Indeed
The art market is controlled by a cartel of auction houses, it will crash if they want it to. Inviting the plebs in makes me think a crash is coming!
@@gulogulo7636 I just figured that allegedly art is worth something because it can be displayed. You can’t display a fraction of “art” so isn’t it just a speculation market now with no tangible value?
There is a life after the war in Ukraine too, there is a life after ours, our kids and our grand kids and so on. The money we have and had before the war, is for the future, a future we will never see. A fund that the whole world will some how have benefits from. Norway is goving already alot to Ukraine, but also allot to humanitarian organisations etc. that is not counted in the direct aid. Norway us allot of money on Ukraine
Sure we have money compared to out meager population, but lets not get carried away here, its not like we have the funds of the entire EU or the US.
dont come here blame norway for taking advantage of the situation europe have put themselvs inn. yes, the ukraine war are ofc a factor, but when countries like germany close down bunch of nuclear power plants that delivers cheap stable power and trade that for alot of windmills and solar panels, thats anything but reliable, and you have great brittain that shut down big part of their gas production, thats allso big reason for the lack of energy
Vi kan kjøpe hele Sverige om vi vil!
Hahaha koloniser Sverige
Kjøp og salg av svensker? Hemm.. 😇
I'd rather serve Norway than Saudi Arabia or Russia, if I have to.
Enjoy your stay at Svalbard.
Norway as a country is getting richer, whilst the population is getting poorer.
Ragnar would have never thought this lol
The worst thing about Stagflation is that it makes nonsensical investments like MasterWorks viable. I made big profits from comics during the Jimmy Carter misadministration. The bottom fell out in the Reagan Administration. I then invested in things that made sense and employed people. What a concept. 😊
The audacity of Poland wanting a cut but not putting in any work or effort in making the foundations like what the heck!!!!!
No Norway isn't the wealthiest.. but if they are truly happy.. they are getting some significant rewards !!!
One quick correction; at around 7:45 you state that the first withdrawal from the fund was in 2016. This is wrong. The National Budget is corrected every year with around 30-40 billion dollars from the SWF, and this correction must adhere to the "Action Rule" (Rough translation of "Handlingsregelen") which states that no more than 4% of the value of the fund can be withdrawn any given year. To put this in perspective, the norwegian national budget has consistently been between around 140 billion dollars. This means that the Norwegian national budget is corrected as much as 30% every year, a correction that other countries usually do by taking on more debt.
The Action Rule has been broken twice, once in 2008 because the fall of the funds value was severe and the cash was still needed, and once now during the pandemic.
Also, the price drop in oil in 2016 is referred to as the oil crisis in Norway. Several coastal cities in Norway were severely impacted, especially Stavanger and Bergen. Thousands of people lost their jobs.
....4% was before 2017.... ...after that 3% is max.....
$180.000 left for each Norwegian? 😳 This is how you run a country
Things are nice when a socialist nation isn't being sanctioned by the most influential and inter-connected brain draining region of the world
We use some for social benifits, but its not money on hand. I have never in my life known anyone that went to bed hungry.
@@NorwegianCrazyGuy because Norwegians are prudent and don't have a culture of boasting, like the gulf states. If you keep immigration tight I don't see how Norways status will ever fall
@@NorwegianCrazyGuy
Let me take you by the hand
And lead you through the streets of Oslo
I'll show you something to make you change your mind.
You should pay more attention. The lines are getting longer every week at food-centrals where Red Cross and others NGO's are handing out food to the needy ones. NGO's working with mental health and poverty reports increasing numbers of desperate people, this have made it into the news. Lay-offs from public institutions like FHI were announced today, same with the government's owned media NRK. Salmon food processing plants are shutting down putting more people out of work. The government implements taxes on energy, effectively shutting down older wind power plants and reducing the number of new ones being built all while we have a shortage of energy. The middle class is getting wiped out and the working class is pretty much facing the worst winter in modern history. The golden era is over. I hope my perception of the realities we are facing is wrong.
Does this mean A-ha will be writing a new follow-up to "Take on Me"?
Norway are giving Ukraine weapons, and money.
And, to pressure companies to give workers rights, and money.
Instead of giving away the money to CEO's, is smart.
Good workers give good profitt.
Greedy CEO's are bad for business.
The price of oil and gas must multiply. Only way to save the world from overheating. Norway, set the price!
Norway is indeed helping the Ukraine with military hardware. The main help will come after the war, though, when the Ukraine needs to be rebuilt. Norwegian fertilizing products (huge!) are only the beginning.
Still difficult to invest in a country known for high levels of corruption, it's not necessary Ukrainian citizens that will thrive using those funds. Even if Putin goes away, there is a lot of "cleaning" up to do.
Agreed. But pre-February-2022 Ukraine is dead. They were on their way. And they'll be again, no doubt. These soldiers now are not fighting for a corrupt society but a better future, within the EU, within NATO. Ukrainian Oligarchs wouldn't be an option.
@@oleplanthafer7034 It definitely has the possibility to be very similar to Japan's post-WW2 recovery.
I support Norway looking out for itself first. A country's responsibility is to it's people first. Ukraine can come after that if they choose to do more. Norway didn't start the war.
Profits made form oil go to the fund, then around 4% of the profits from the fund, goes to spending by the government.
It is a way to not be reliable on oil.
Around 8.5 billion nok for humanitarian aid and 4.4 billion nok in military aid has been given to ukrain so far by norway.
....the max. percentage the government can take out from the oil fund is 3%...
'Dinosaur juice' count on visual politik : 53846
Yes - the fund will exist for many generations to come. If the stock market falls, shares are bought up to maintain the 70/25/5 formula at all times. (Shares are 70%) and sell bonds. At the same time, the $120 billion Norway get extra in 2022 is used for shares in a cheap market.
better watch out or we norwegians gonna start going on a "vikingtog"
I am in ;) hehe..
Vi samles ved svinesundbrua 1. 1. 2023 kl 1200.
Angrepet starter når vi blir fulle nok.
"vikingtokt"
Contributing to EU is a very unpopular opinion in Norway. And even though the oil company is cashing in massively, it's doing what they have always done, which coincidentally is the same reason Norway Oil be came established. They took advantage of the market due to geopolitics.
They are taking criticism for their insane profits, because it's due to the Ukraine war, and in one way blood money.
And even if the oil fund is doing well, the Norwegians themselves are struggling big time due to low wage development vs. price development.
"Will the money in large part earned due to the war be of use to the Ukraineans, or will it be put into the -fund?
The supercool answer is that this is not a dilemma, leave the money in the fund(as intended) and let the fund managers find investment opportunities in Ukraine + in Ukrainean interests.
This way everybody wins, without sacrifising the pension fund.
I don't believe I'm the first to have these thoughts, there are some stumbling blocks, if the government decided to intervene in the -fund' investment decisions, the trust in the fund would evaporate.
The crux here is that Ukraine must become a financially attractive zone, or the -fund must find an oppurtunity to make a significant allocation, that makes sense financially...
We have big investment plans for Ukraine
@@gee8883 there is though?
the "point" in funding the successfull venture would be that the investor would be able to influence the business/corporation/etc. hence being able to stop or at least hinder morally(and therefore PR-wise) indefensible actions, this is at least one major PRO point/argument
btw, just in case anybody thought so- there is no probable scenario where there are no oligarchs/chaebols/disgustingly wealthy people with less than likable personalities, in Eastern Europe or any other part of the world for that matter.
That made me think their is one CEO I like, he pays all workers 50k I believe and doesn't take a large amount of money to pay his wage as well
The truth is that when times were bad for oil and gas in the North Sea, the Dutch and British stopped investing. The Norwegians continued, and now we are being paid back for this risk. Poland's prime minister just has to sweep at his own door.
As Norwegian citizens, we don't care much for wealth, we save ourselves for poverty. It's okay to help others, we like it, and human rights are incredibly important. We all came to earth as equals and the earth belongs to us all. I just wish the authorities would reinvest in Norwegian companies. Now everything is made in China and we feel it in the public sector, which is falling into disrepair.
This is a good video but I have to say, I will forever be indebted to you Gardner 😇you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment in money market, thanks so much Mrs Rose Gardner
As a high school teacher, I got introduced to Ms, Gardner during the pandemic year, I cried about challenges I was facing here in Ireland, during my time working with her, I was able generate returns on my investment.
I had little knowledge on predicting the stock market, but with Ms. Gardner weekly analysis and advise profits are guaranteed! I received thrice my initial deposit in a week!!
Early this year, I came across her, fortunately I decided to invest with her firm, I asked concerning losses and her words were, they company has insurance on deposit for deposit above a thousand, that's not found anywhere
What you’re saying is interesting, have been struggling with retirement for 3 years now, I need try something different, the prices of things keep go up, how can I reach this woman please?
will try reach out to her after my work hours, with all the positive words I hear, this should be worth a try
I support Norway's efforts to change companies for the better, although i do agree with Poland that they should share some of the funds with Ukraine
As a norwegian I strongly dissegre with the fact that we should give more. We are giving so much right now. Our entire industrial industry is running on overload to support europe. Our electrical prices are up 300% and 1000% some places. Its damn time we start thinking about our self.
Share some of the funds with whom? Why Ukraine? Germany own Poland 1.5 Trillion Euro in ww2 compensation. Germany also owes Norway 0.35 Trillion Euros in war reparations which the country never received but was forced to agree to, in the same way as Poland was through the Soviet.
I support Norway looking out for itself first. A country's responsibility is to it's people first. Ukraine can come after that if they choose to do more.
I'm not against Norway stepping up and donating to Ukraine, I'm totally for it. But let me get this straight:
Russia cuts its gas supply to Europe, causing a huge shortage in the market basically overnight. I'll repeat it - there is simply not enough oil and gas in the market. But hey, lets get angry with Norway and the other suppliers who are left to fill the gap, even tho they didn't create the supply shortage, weren't prepared for it, and also don't have the power to regulate international gas prices. Norway should be really ashamed of themselves for what Russia did and pay reparations to Ukraine (why to Ukraine in particular tho? Did the international gas sector bomb Ukraine? Or was it just the Norwegian one? When did this stop being about energy crisis and start being about the destruction in Ukraine?).
Did i sum up the logic accurately?
Well now thinking of investing in Norway gas….
9:35 Haugesund! my home town
The fund is almost at 13 000 000 000 000 Norwegian kroner today. For $ divide by roughly 10. That is quite frankly an insane amount of money which equivalate to about $236000 per inhabitant.
Funny thing is Scotland got this as well - buy hey presto we are sking and f freezing lol
Great video
I think I am the one producing the gas in Norway I can't help it I think I have some sort of stomach problem idk
No it can't even save its own people from poverty. Norway has 1250 billion US dollar pension fund in stocks and still 1 million people are abound to be thrown out into poverty.
No -you dont understand economy. 1 million into powerty ?? Woow.
@@lpdude2005 That is 1 out of 5,5 Norwegians