[piokoch]

I hate to be cynical, but isn't this decision made also because oil prices are very low now? It's not as low as in the '60, but adjusting for inflation it is not that much higher. Norway is a very small country in terms of population, it does not need much oil for its own needs so it makes perfect sense to keep it for times when prices will go up.

[Broken_Hippo]

No is the short answer.

More to the point, they've managed their oil money differently, investing it in various things. They have state philosophers on board to help invest. The country itself is relying less and less on oil - lots of hydropower, for example, and lots of encouragement to buy an electric vehicle and/or take the bus.

They've had help: Others responding along with you mentioned an Iraqi that has helped them.

The fund itself is pretty amazing. It might even be more of a blow to see the fund shrivel up than the oil, honestly.

[Arn_Thor]

No, a majority of the big political parties are for oil exploration in this area, including (until very recently) the Labour party. The reason they have done a 180 on this and blocked the proposal for oil exploration there is because of pressure from the youth wing of their party, who are vocally against it and have been so for decades. There is no grand calculus, just a political reality. In fact part of the labor party is very upset because some labour organizations have been in favor of oil and gas exploration there because of the jobs it would bring.