<story><title>Farouk al Kasim saved Norway from its oil (2014)</title><url>https://psmag.com/environment/iraqi-vikings-farouk-al-kasim-norway-oil-72715</url></story><parent_chain><item><author>Mizza</author><text>Stupid use of funds for the most part, it&amp;#x27;s not re-invested in the country, just the American stock market. It&amp;#x27;s not like they had to buy solid gold rolls royces, but there&amp;#x27;s no reinvestment internally other than oil and fish. Norway is a hedge fund with the F-35.</text></item></parent_chain><comment><author>kwhitefoot</author><text>I suspect that the people arguing here that Norway should direct that huge volume of money internally are not Norwegian residents.  Those of us who live in Norway, most of us anyway, recognize that doing that would be a disaster and would just fund short term spending and fuel inflation.&lt;p&gt;The UK and the Dutch just spent the money they got from the North Sea oil and at least the UK has little to show for it.&lt;p&gt;Anyway, the Norwegian economy is doing just fine without it, we bounced back from COVID faster than practically everywhere else and everywhere I look there are new commercial and industrial buildings going up.</text></comment>
<story><title>Farouk al Kasim saved Norway from its oil (2014)</title><url>https://psmag.com/environment/iraqi-vikings-farouk-al-kasim-norway-oil-72715</url></story><parent_chain><item><author>Mizza</author><text>Stupid use of funds for the most part, it&amp;#x27;s not re-invested in the country, just the American stock market. It&amp;#x27;s not like they had to buy solid gold rolls royces, but there&amp;#x27;s no reinvestment internally other than oil and fish. Norway is a hedge fund with the F-35.</text></item></parent_chain><comment><author>ceejayoz</author><text>I wish my country would make &amp;quot;stupid&amp;quot; investments to the tune of $250,000 per citizen set aside for a rainy day (or decade).</text></comment>