Why Norway is Becoming the World's Richest Country
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- čas přidán 6. 02. 2024
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FUN FACT: The former king of Norway Olav V was immensely popular because he ruled by example, earning him the nickname "the People's King." When driving was restricted due to the 1973 oil crisis, the king, who legally could've driven, took public transport carrying his skiing gear on his shoulders. When the media asked him how he could even dare to go outside without bodyguards, he responded by saying "I have four million bodyguards," referring to the population of Norway at the time.
That sounds like a great king. But it’s still annoying how people pay so much attention to people with money who say they’re gonna help people but people are every where having terrible problems and nobody’s doing anything.
Leading by example
King Olav was in Stavanger in 1976 visiting Elf Aquatiane, a French Oil company. My sister and I were told he was soon leaving and we would be able to see him. There was only a few people waiting. Soon enough he was exiting and quite gracious. My sister jumped in front of him taking his picture and startling him. He responded with a chuckle. It was a different time then.
Very interesting
I hope you don't mind me using your post on my facebook site?
Norway is the country which won the lottery but kept the normal job
Very well said
Norway be like "All I do is win, win win! No matter what!" 😂
In practice we're just someone with a normal job. One might expect health care, transportation and so on to be amazing, but there's nothing particularly impressive about life here compared to much of Europe
Excellent, just excellent 😂
And keeps salaries super low so 50% of their people can barely survive
I'm a Norwegian and this is a very good summary of Norway's economic history. Finally, a summary that got it right.
somewhat good summary of history. but not projection.. when oil/gas disappears there will be a fall considering the borderline useless politicians
Im one too
He didn't get the phosphate findings right, though. It's "only" 2bn tonnes. This has to be extracted from 70bn tonnes of rock. The Economist is the source of this misunderstanding, and Norge Mining has confirmed it was a misunderstanding
Are you a conscript?
But I miss the mention of the 'oilfond' and the financing of oil search, but maybe it's too economical.
Basically, Norway's prosperity comes down to long term planning... which is a cultural trait probably evolved over millenia as consequence to its harsh winter weather: basically, in such a climate, if you don't plan for winter, when winter comes, you die... same if you don´t help each-other when conditions get bad... so instead of spending it all now and "hoping for the best" regarding the future as so many countries do, Norway has always planned for the future, and never got its head turned by any "lottery wins"... like a person using their winning at a lottery to invest in their future as opposed to partying, buying expensive cars and so on
Most sane ppl do that, it's just as he said, corrupt or short seighted politians who want immediate wins
Well said.👍
that's insanely racist
Russia does have the same "consequences of winter" yet is not even close to being like Norway. Lol
Long-term planning is not allowed under neoliberal economics, so Norway will be made to repent.
It's not all glamour. In 2011 we experienced a butter shortage. We sorted it out, thankfully. It's difficult for me to talk about.
Yes, I remember that. It was like hell on earth. 😂😂😂😂
......it was a dark time.
😂😂
How about we trade our useless irish politicians but delicious irish butter mountains for some Norwegian politicians ? No take backs
Don't get me started on Gastromat...
as a Norwegian, a 40 min video of about how good we are was very entertaining
Cries in Danish :(
Union again plz?
least cocky norwegian
rart vi får så mye oppmerksomhet
@@ritterspots89swede here, kalmarunion?
If I learned Norwegian, how would a Mexican be treated in Norway?
@@MrAnostalgiaIkke faen, vi så hvordan det gikk sist gang
I am not Norwegian but I live here in this country. It is not all perfect but this is a country close to being perfect. I may not be Norwegian but I definitely am proud to defend this land that I now call my home. I would never ever dare say anything bad about this country. This country and its people have given me hope and a clear vision to which path I should take. Eventually the purpose of my existence. That in itself is something good to wake up everyday for.
What nationality are you?
@@NotSure7474 Why do you ask?
Just interested I guess
You're allowed to complain about the shitty roads😂
Lucky you (which I’m pretty sure it’s far from luck and more regarding hard work, learning the language, etc).
Cheers and all the best.
Fun fact, no civilian in Norway get anything from the "Oil money". Norway is the world richest poor country in the world. Only people that gets any benefits from the Oil is banks that are investing for the government (and never invest in its country) and people that work close to the Oil Companies. Who pays for the everything in Norway, exactly what the banks wants, the taxpayers. Kids doesnt even get food in their school, many kids and old people are homeless depressed and on drugs. Last economic crisis many lost their job, Norway had the money to save all jobs, did they. Nope. Norway will never see these money its hijacked by the Norwegian (Centralbank). Ill give u an other example, why did the banks up the interest rate in Norway? and all prices went up 30%, electricity dubbel, people that have loans has to pay more. It wasnt necessary because the State could stop it instant and also pay their country loan in an instant. But nope Norway is in depth and the depth dubbels almost every year. So where is the money. I can tell u one thing, ive lived in Norway 25 years and havent seen any oil money invested in Norway. People are still out of jobs, poor and struggle. Pension hasnt changed, tax is still the same (one of the highest in the world) no change to schools or any investing in living buildings for students and normal people.
Im always looking at Therese videos about Norway beeing so rich... And im looking out my Window... And wonder what fantasy story people are talking about.
Its not actually hydropower, its mountain trolls on spinning bikes
lol, fax
HOLY SHIT MARTINA
Shhhsss... We don't talk about the trolls....
aeioi
Shhhh-don’t reveal their secret. 😅
Norway is a rare case of an oil state not completely squandering the money
Yep, it's like they won the lottery and decided to keep their day job
I think we were really blessed by both the timing of the discovery, the trust amongst the public to their officials, and our politicians simply doing what was in the best interest of all of us.
Like, most people at the time had lived through the occupation of WWII, and they knew how tougher times actually were.
I think that if this discovery had happened a decade or two later, the story would have been a lot different to what it is.
Ironically we have to thank an Iranian for that decision. Originally Norway intended to copy the American method or sell 50% of ownership and trade with Sweden if they helped us, Sweden said no. Sweden has regretted their decision ever since.
One of the few cases of an oil state that isn't some autocratic monarchy as well.
Nordic culture is less corrupt.
It's been 6 minutes since playing this and I'm overwhelmed with the sheer amount of information packed into this video so far.
In addition to being wealthy, Norway is INSANELY beautiful. Travelling the country from point to point in spring felt like moving through a fairytale land, I'm not kidding. The deep fjord valleys, massive snow covered mountains, dense forests, lush green prairies, crystal-clear rivers, thousands of waterfalls... It's hard to imagine a prettier landscape to me. And most of it is practically untouched by the human hand, with just a few colourful wooden-house villages scattered here and there.
Being born in Norway must be like winning lottery on so many levels...
the day i watch a reallifelore video without the word vast is the day the world ends
Also, the phrase "in the world"
Lol. Get a grip simp
That day, all joy would have left the world
Should probably stop watching them then.
@@LuisSierra42 Wth simp
As a Brit, it’s depressing to hear how a countries leaders had such amazing foresight to ensure their countries prosperity for decades to come. Unlike my countries leaders who have only ensured a death by a 1000 cuts for the UK.
UK greenies stopped oil & gas production, North sea oil given away for what, fools running the show.
Yes 5mill Norwegians ethos will go right out the window once they accept the rest of the world to land on there shores
I feel identical about America... I honestly cannot stand how dysfunctional and unaffordable it is here now and it's only getting worse and no one's doing anything about it.
As a Aussie I feel the same. We have been let down by decades of inept Governments. We should have had a sovereign wealth fund as well, instead we allow our resources to be plundered by the mega resources companies with just peanuts going back into the local economy. To make matters worse the Federal Govt has flooded the country with immigrants whilst in the grips of a housing crisis. The golden age of Australia is long gone, we are now in serious trouble with such short sighted policies which just fluff around the edges but doesn’t actually address the situation.
The British government with Thatcher in the lead, made sure to give the already rich, including herself the vast majority of the profit from the gas and oil and extremely little of it to the lower classes.
Even if the UK is a democratic country have you always made sure that the rich get richer and the poor get poorer.
I think it is a total disgrace how many people in the UK that live in such poverty as they do.
And you will only get more of them the way your politicians run your country.
Specially the Tories.
And you far from made it any better for you, voting Yes to Brexit.
Making your economy even worse.
This is one of the best CZcams documentaries I’ve ever seen. A lot of work went in to this. Well done!
This was a fantastic tutorial on the topic - fast-moving, dense with information and incredibly educational and informative! Many thanks!!!
“kinetic energy just sitting there” is a funny phrase.
My favorite is when the narrator said "more easier. "
Kinetic energy is doing anything except just sitting there.
Technically, this is "potential energy", but "kinetic energy just siitting there" works too xD
ikr that's just an extended way to say "potential energy"
he has to reach his word quota somehow
Damn, what a satisfying thing to see a country managing money and resources inteligently. Gotta admit I got a little jealous, but good for them. I hope, naively, that the rest of the world learns something from them someday.
Agree 100%! 👍
I mean when you have a group of us euros without outsiders and subversive "people" abusing our natural altruism we succeed far more than every other group. There is a reason laws have to be made to hold us back and let lesser people take positions we deserve bc otherwise we dominate every field.
@@davidabest7195 do you really have nothing in your own life to be proud of except this vague sense of belonging to such a non specific generic concept like european? even if so, you do not inherit any of the merits of your ancestors’ deeds, as well as achievements of your co-citizens. Watch the video - it is not about nationality or color, it’s about collective thinking, smart decisions and a little bit of luck.
@@davidabest7195 life is ironic, it’s always the lowest and most useless member of the group does the most chest pounding and calls others “lesser people”
It's sad that the UK has similar resources (see the Woodsmith Mine near Whitby and projects in renewable energy) but what we lack is competent leadership and the national will and foresight to make the most of what we have. There's very much an attitude of "cake today not bread tomorrow".
My kind of content, as rich in information as norway in resources! You've earned my sub👍
Fantastic and detailed overview of Norway's economy and natural resources and wise planning. Great job in visual design and communication by go bal data comparisons! You are my new hero in data visualization and educational communications!
You did start out very nicely by showing how our fjords and coastline meant sea transport was crucial. The very best way to illustrate this is to look at our road numbering system:
It starts at 2! This is a silent acknowledgment that the sea has always been #1, i.e. our main highway.
Highway # 1 gave the country its name. Nordvegr as the vikings called it, is shortened into today's Norge.
This gave me a great smile!
Except it's not true, route number 1 was used for the road between Oslo and Svinesund before it was changed to European route 6 in the 60s, and then later for a brief period in the 90s for the road between Stavanger and Kristiansund.
@@olnnn I have reported your comment.
@@hepphepps8356good you did so! That buster was trying to sort things out with facts. That's so old fashioned!
As a swede I am a bit jealous but most of all happy for Norway! They are paving the way on how countries should operate. Be like Norway.
Be white, blond haired, blue eyed germanic majority? Sounds familiar.
While Norwegians are envious of Swedish innovation and business. 👍
So have a majority of white people with blond hair and blue eyes of germanic origins? Adolf, is that you?
As a Quebecois I'm an admirer of both countries 🤘Hydro 4 life!
@@MrOvipareI’m from onterrible, and wish we could be more like Quebec
That’s a Brilliant video explainer, thank you so much for your work!
As a Canadian watching the video, I was awestruck at what a responsible, unified, well represented people and their government can achieve for their shared future. Norway really is leading the way and showing the world what a nation should be.
Justin Trudeau can ruin it all, Canada could be similarly rich, but Canadians need to look for a change..learn from Norway..
The smartest thing Norway did when striking oil was to not go on a spending binge, but to carefully ensure that a) Foreign oil companies could not exploit them and, b) Save the proceeds in a national fund for the inevitable "rainy day", not allowing the sudden wealth to ruin the local economy like the Dutch did. Best of all, the Norwegian nation is just fine with this! Gas/petrol is EXPENSIVE in Norway and people are concentrating on electric vehicles, which makes perfect sense with their abundant renewable hydro-electrical energy supply.
We Icelanders are proud of the foresight of our sensible big brother, Norway.
How can you guys be so cool? No pun intended!
You also jailed the bankers after the global financial crisis. Go Iceland!
I thought it's because of Erling Haaland's goal bonuses going straight into the government fund.
Imagine
I'm sure Norway has a way to collect tax on that as well
Didn't his dad move to Switzerland to avoid paying taxes in Norway?
@@Permuhnah, I think the only country doing that is the USA
I think the same for Magnus Carlsen, I wonder if he pays lot of taxes or has offshore to avoid them
Incredible how much research went into this video. Great content!
This is a great video! Thank you for doing such a good job providing all of this information about our country ❤
Fun fact: The "Volvo Deal" was almost a reality, where Norway offered Volvo 40% stake in exchange for oil rights in the 70s. Only one of the offered areas had gas; none had oil. Rejected by Volvo's shareholders for undervaluing Volvo and overestimating Norwegian oil. Fast forward, Norway's oil wealth soared, now having a $1 trillion sovereign wealth fund, while Volvo was bought by Geely in 2010.
Why would they sell it to China?..
Because ford is incompetent and drove them, jaguar aston martin and land rover into the ground
Fun for Norway, not so fun for Volvo shareholders.
Volvo did some bad business in the 70s 😂
Wasn't around the same time they "sold" cars to North Korea 😅
It was actually blocked by a pensioner fund with a significant stake in Volvo if I remember correctly.
Bad times for Volvo, could have been the worlds most economically sound car manufacturer by a enormous margin.
Finally a CZcams video that actually said the fact that oil only embellished an already thriving economy.
To be fair I didn't really see anyone NOT mentioning that when talking about Norwegian economy
@@user-zw8ib3rl1oNot true. Please provide SSB or similar statistics for such an outrageous claim.
genetics is key
Northern Europeans are just better
@@armin3057Because they had no wars. Even during World War II, Norway was spared, which could not be said about other countries. They continued to develop while others had to rebuild from the rubble or were absorbed into communism.
@@armin3057 that statement is bs
Wow this is great! Glad I found your channel.
Well done , instructive, rich , and worth watching . Thank yoiu.
6:45 This part is exrremely important to us Norwegians. Trust is a massive part of our culture. In a store you can leave the queue if you forgot something and come back without anyone batting an eye. We trust each other enought to leave our own babies outside un-supervised. I love this country so much, and wouldn't trade living here for anything else.
this is just nordic people in general
@@fidelkva4810also the ones in Malmo? 😅
@@user-ut8gh7ww9y We don’t talk about Malmö or Stockholm…
It will be interesting to see how our society which is built upon trust will develop with increasingly more youth crime in urban areas, most of which comes from immigrant youth...
@@felonymelody4773 Yes, the immigration has definetely gone too far. I hope we don't turn into the catastrophe we now call Sweden.
FunFact: Since Norway is not dependent on the phosphor mining as an income, but Marocco is, Norway and Marocco has started a dialog. When and if Norway start mining phosphor, they have plans to only supply the market with an amount that will not affect prices or take away buyers from Marocco, therefore securing and stabilize the much needed income for Marocco. That is pretty awsome.
It's called price fixing, cartels do the same to ensure the free market doesnt work for the buyer but serves the interest of the seller
I'm half Norwegian, half Moroccan. I'll be the middleman. I won't skim off the top... I swear.. ehm, I swear..
You mean ''therefore securing Norway gets the best price possible'' I am Norwegian and this is not to 'help' Morocco.. Like someone else already said. It's more like price fixing.
@@Borrelaas yep and now norway will own morroco... they will have to do everything norway wants them to do on the world scale
@@BH-gh6qmwomp womp
Thanks for that. A well presented, clearly articulated and logically structured explanation on the whence and whither of Norway.
I was aware of bits of this story but you have pulled the strands together to weave a clear picture in tapestry.
How refreshing to see something as inspirational as a society with foresight and morals. The Norwegians have lots of natural advantages but they manage them intelligently, and that makes all the difference. I would love to see the rest of the world learn from this. Thank you for making this video.
Well I think Bernt Anker brothers has something to do with that. Apparently the dude wasted a such a large fortune. That Had it lasted to today. The fortune would be bigger than. Norways oil fund by more then 10 times In today's money.
As a Norwegian, it's super cool to see how we've managed all this. However, and I keep yapping on about this, it's not like this formula can just be copy-pasted onto random countries and VOÍLA, everything is all fine and dandy. It cannot be overstated how much easier it is to accomplish this here where absolutely no one lives. A microscopic population is easier to rule and sort out than an absolute behemoth like the US, which would never find success with the same model for a billion different reasons. This was a great video tho, sweet little free advertising for Norway lmfao
@@Matfridtthe only reason it wouldn't work out in the US is because the elites think they are entitled to 3 out of every 4 dollars made. The only difference is a plutocrat class who sees other Americans as "useless eaters". They think they don't need other Americans hence why they outsourced most good jobs in the 80's and 90's. Nowhere is this more visible than in Beverly Hills one of the richest places in Earth and a couple city blocks over is skid row where people live on the streets in abject poverty
@@noobnoob5072 I'm interested in hearing what you think you know about that. As far as I can tell, that's entirely false.
@@Matfridt As much as you,re statement has merit ,I believe the major difference is what,s in people,s hearts .Do polititions act as Christian or just mouth they do ? Hipocricy seems to be the dominant theme ,country to country . Once they,re elected anything goes ,especialy morals or word . And a few ,even now ,want to be king above all others (till they die ) , free from ANY resemblance to Christianity . "only I can solve it ' 'laws don,t apply to Me ' ME-me-me . My wife ,of Norwegian ancestry and Christian , have fantasized about immigrating there ( where her mother was born ) , if for the fact we,re both pushing 80 , but at least our son is young enough to take our place .At least for him at 6 ' 5" won,t feel so different than common heighted people , here . Just sayin'. PS -Canada is perhaps one of the best ( some say best ) countries otherwise and we do love it here ,we,re blessed to be here all said and done . Just wish our country would imitate Norway , in so many instances . Once Norway became a Christian nation ,they have not forsakened Christianity for the possesion obsessed examples too numerus to list . It truly is all for one and one for all like Jesus preached .Love it .
Wow, a state that can actually do long term planning...
due to the culture of its people... =)
@@TainDK Naw, less people = less potential differences in opinion.
It lacks diversity. That is its weakness.
@@tbird81 lol. As if
@@Claritism There are countries with less people that are vastly poorer and more corrupt. There's no real correlation between population size, and likelihood political polarization in my opinion.
thiss was amazing. thankyou!
I've watched lots of videos on your channel and enjoyed them all. This one is the single best that I've watched. I usually don't watch videos this long on YT, but this one worth the time. Regards from Azerbaijan
Norway is one of the most beautiful countries in the world... it's actually unsettling how extreme the beauty is when you're there.
Too bad it's slowly and steadily being covered and ruined by industry and infrastructure. Only 11,5% of Norway could be considered wilderness in 2018, and the percentage is decreasing at an ever growing, alarming rate. It's a big conflict going on in the country at the moment, now that people have become aware of how extreme it has gotten. 118,500 square meters of nature is demolished EVERY DAY. It's insane, and it makes me sad...
det hørtes ikke så bra ut, er du sikker
@@aeriumsoft Yeah, it’s been all over NRK (the state channel) for the last month or so. The show Oppsynsmannen with Bård Tufte Johansen does a deep dive to find out how and why this is happening.
@@andreasservan9545 you know norway is pretty big, typically the most damage human population does to nature is the asphalt covering cities and the food crops to supply them, and since there's not that many of us the impact isn't that great. The other big thing is dams which has always been controversial but were mostly built way back.
I guess the big question these days is how much damage building out windfarms will cause, and maybe the aesthetics of long powerlines...
"it's actually unsettling (...) when you're there."
Unless you're used to it.
Don't forget a very important factor: Norway is a really great neighbor which enables trade routes to be very stable because everyone likes them as a country. /neighboring swede.
even Russia?
@@tomasbeltran04050 For the most part, yeah, especially before they went invasion crazy. We have our conflicts over fishing and they did squeeze us into accepting an ocean border that favored them and they don't really agree with us when it comes to some islands, but for the most part they don't care that much. It probably helps that we have never been part of their empires (it helps that we only got a border with them after the Winter war), our border is tiny and since we haven't militarized our side the fact that it's close to their northern fleet maters less than you might think.
After the invasion it has soured quite a bit with sanctions and complaints.
@@msuomtv þank you
@@tomasbeltran04050 No problem, and I understand why you asked, our relationship with Russia is almost unique, and I really wish Putin would stop wrecking it.
Everyone likes Norway? Norway is a country of 5 million people that have isolated themselves, and kept all of Europe's riches for themselves. Many people rightly point out Norway has been war profiteering from Russia's war, getting filthy rich, while many in mainland Europe and the UK can barely afford their electric bill.
I love how you added random images from Switzerland in your video.
I love hearing about the succes of these kinds of clever foresights and cooperation.
as someone living in Norway;
Hearing Norway even get mentioned feels like seeing your teacher outside of school.
Og i en video der vi blir forklart at vi er best.
lol
How can I move to Norway???
@@HenricoK91or bicycle
@@jayreagan5999by an viking ark
God of War is such a good game, I wish Norway was a real country
it is real
As a norwegian, I can confirm I’m not real
nice
I wish AlternateLifeLore was real
Norway is well positioned. Away from Russia. Away from the rest of Europe. Sitting on oil. Not swarmed too much by immigration. Norway was literally to make the money printer go BRRRRRR... 😂😂😂😂😂😂
Excellent breakdown. Thank you.
I love these videos. They are so long, and the invaluable insights and information just keep flowing.
As a Norwegian, this was interresting to me aswell, i didnt know about our country being wealthy for so long, i found it strange though that the fishing industry wasnt even mentioned.
He mentioned it near the beginning, but only briefly to segue into how Norway got such a big merchant marine fleet.
Me too, especially because we (I'm Portuguese) eat almost all of the codfish that you fish, but we salt it instead.
@@njsferoh, you don’t like Lutefisk? Also known as salted cod jelly…
@@DanFreezin I never tried it but I would like to. It looks like our salted "bacalhau" (codfish). Codfish is the only salted fish that we eat here in Portugal.
@@njsferI’m from a small town on the coast of Norway called Kristiansund and every year we have a Bacalao (we say) festival because the town was settled by fishermen from all over (i presume) and it became a long standing tradition on the coast of Norway!
Wow, what an informational video! I listened non-stop for 40 minutes and I have adhd so.. this was so fun
Yet I keep hearing that China, which has 1.412 billion people, is doomed because its population is shrinking.
I agree I also find it hard to watch 40 min videos straight
Look up 'hyperfocusing', you might find it interesting if you have ADHD.
Can you remover any facts from the video? 10 seconds to think about it.
@@callumcolquhoun8501 you mean remember? I remember some stuff yeah
Would love it if you could post your sources in the description, or have a pop up citation everytime some facts were mentioned in the video to do some further reading. Fantastic video
Thanks, this was great!
I moved to Norway 19 years ago, and that was definitely one of the best decisions I've ever made.
Hi, Mike. 😉
Hi @@-_James_-
you can be one of the two James I know, so I'm going to assume you are currently enjoying the sun in Valencia? 😉
@@DbugII You guessed correct. 🙂
Wholesome thread
@@gladJonasThere are so few people in Norway, that you often bump in the very same people in very different locations :)
"Norway is successful because they cooperate together" rest of the world could learn.
Damn i think selfish is the way for becoming successful like US capitalism explain
@@muysli.y1855lol US wealth is all owned by .1 percent of population unlike Norway
100% true 🇳🇴
Not anymore. Norway is just as corrupt as any other EU country at this point
only works in countries that are relatively ethnically homogeneous.
Thank you for this video
Such a great video, wow! The explanation, visualization and data made this video perfect. 🇳🇴🇳🇴🇳🇴
Seems to me, collective intelligence is also a rare earth source that added to the wealth of Norway. Kudos!
Your ability to explain sometihng in excrutiating detail, and then explain what you just explained in the same excutiating detail, is truly unparalleled.
excruciatingly unparalleled*
E
It’s because it’s a ChatGPT written script
All deserved. Well done there! Greetings from The Netherlands.
Some interesting stuff to add:
- despite the hydro and wind power, the public pays very high prices for electricity (the price has increased massively in recent years, in some cases 20-fold!)
- despite the oil wealth, fuel prices at petrol stations are among the highest in Europe
- Norway has barely any highways and the road network is ver much underdeveloped [it is difficult to build roads in the mountains I get it, but Norway IS one of the richest countries after all...]
- the power transmission and distribution network of Norway is totally outdated (a windier day or heavier snowfall is enough to make small towns lose electricity for hours, sometimes days)
- the government seems to be very fond of raising taxes and implementing new taxes all the time, despite the massive state wealth that has been discussed in this video.
The only reason I'm highlighting these issues is to remind people that even Norway is very far from perfect. Of course a lot of countries would be happy if their country would run as well as Norway does, but it's not all sunshine and butterflies in Norway either.
I have some counter arguments and i hope the discussion will add to my knowledge.
- As for electricity being costly, Norway had a trend of decreasing electric prices annually, except for in 2022 when their was a surge due to a particularly non-rainy season and thus the hydros could not keep up with the demand. To mitigate Norway is heavily investing in wind farms and maybe sooner they will be less dependent on hydros. One of the reasons is also meeting the goal of 50000 EVs two years earlier, the highest adoption rate worldwide. Thus further increasing demand.
- For oil, i believe that the higher oil price is not their to reap cash from people, it is too push them to adopt EVs sooner. The benefits of EV owners such as zero registration tax and VAT, subsidies, state built charging stations and special perks for EVs such as toll free roads, free parking, driving in bus lane greatly outweigh the troubles of gas owners. Also, they have converted their ferries, trains and busses to electric, thus promoting even cheaper commute.
- As for roads i agree with you.
- the power transmission is definitely in need of an upgrade, but they are more focused on trying to scale existing infrastructure for the rising demand due to EVs. Maybe their will be progress in the future....
- I agree with the taxes but the state wealth is not their for easing public issues, its there to act as a buffer in bad days, for example oil losing its value gradually. In that case this fund will act as an investment to support Norwegian economy when oil is no more gold in contrast with Saudi Arabia which is heavily spending on its public to allow then to accept the authoritarian government, kind of like bribing its own citizens and actually not saving anything for the rainy day...
It's difficult to be all sunshine in the Arctic circle
@@albertodv2165 It depends on the season. :)
@@mateenahmed1283 I think the issue with electricity prices is that the state allows private firms to tread with electricity. They are like a middle man. You can sign with various companies to buy your electricity from. Kind of like signing to a cell phone carrier. This allows for the prices to be manipulated with, and boy those companies do mess with the prices! Also there was much uproar about selling electricity abroad (f.e. to Germany) while the local prices are raised massively blaming it on a "non-rainy" period - because if there is a shortage of hydropower then how is there enough to sell abroad...?! I'm all about an open market, but basic public services like water and electricity should be an exception in my opinion.
Wind farms have quite some pushback as well; I believe in Norway some of them have even been closed. The main issue with them is killing a LOT of birds and bugs. They are also expensive to build and their life cycle compared to the environmental load of making them raises some questions.
Using EV's makes the most sense in a country like Norway, where there is plentiful of the greenest power. Fuel prices were among the highest in Europe even before the first modern EV's... therefore I don't think there is a correlation - it's just another excuse. Also, I believe they have started to decrease the benefits for EV owners.
I think state wealth should benefit the people of today (the people acquiring it), not only the people of the future. As this video shined a light on, Norway's wealth is not only from the oil, so it's not like the country would be in big trouble when oil runs out.
@@mateenahmed1283 About the low cost benefits on EVs: Norway cut the financial benefits of having an EV a year or two ago. EVs are paying the same toll on roads, all the register costs etc are the same. EV owners in Norway are massively pissed about this, as they feel tricked into it and now getting ripped off after paying substantially more for the initial purchase of an EV.
The video portrays the government of Norway smarter then nessessary and less corrupt then it really is.
This is the power of cooperation and doing what is best for the group. Everyone wins, Norway wins.
Norway mentioned 🇸🇯🇳🇴
NORGE
Makes me want to move back
@@bjarkiengelsson why’d you leave
@@Your_Local_Nerd
Thats what I was thinking. Beautiful country. Beautiful Women. Very nice people..
Warm... er Nice people.
Get me a trabajo por favor I want better life in EVROPA
Incredibly interesting video, thank you
As a Norwegian it is always fun to see an outside perspective of Norway. At least when the information is actually correct.
I know Norway can be difficult to study. So it was fun to see the time and attention to detail put into this one.
Fun fact, most americans have held Norwegian aluminum in their hands before, as its one of the main provider for apple mobile phones
That wasn’t fun at all
You mean from the Norsk Hydro group? Most of their factories and supply chain is completely outside of Norway
😂@@FLuFFyDawgg
Which comes in handy as the sovereign wealth fund is a major shareholder of AAPL
lie , apple has manufacturing base majorily in asia and asian country are giants in alumunium production
It's fascinating to learn about how Norwegian industry and culture are so closely tied.
That's how it is in all countries. Corrupt cultures have corrupt businesses.
Immigration is hurting Norwegian work ethic. There’s less unity
Was closely tied.... The Norwegian work and social culture has been on a death spiral since the 90s. It's gotten more and more "American corporate" over the past 3 decades.
@@mevans4953bullshit lmao
@@prysin8890 I'd say the opposite. Our public sector has gotten more bloated since the 90s.
What a video, God bless the day I came across your channel
this was super intresting thx +10iQ😅
Traveling to Norway has been one of my life’s highlights. It’s beautiful, pristine, rugged, and mountainous.
E
...Nice to hear. But you should also try to live here during the dark months.
E
Been there to and its Cold and Dark no Sun Half of The year and Women are Boring Ugggly Feminists too ! Be honest Men ! Fact !
I wanna move there and race change to Norwegian
Fun Fact:
Farouk Al-Kasim
Farouk Al-Kasim is a geologist from Iraq that moved to Norway in 1968 - just before we discovered oil. He became instrumental in the development of Norwegian oil policy.
That name rings a bell....
Documentation?
@@KimCaspar Just google him, but yeah, he did contribute quite a lot both on regulations and the more technical side, this isn't really in doubt, the guy was knighted for it. Random fact about him: after the invasion of Iraq he helped write the countrys new oil regulations.
Interesting
I was a bit let down he didn't mention Al-Kasim. He was instrumental to our discovery of oil
So good - thank you!
Very dense insights, thanks 😊
Western world: "Oh no we're running out of a specific resource again"
Norway about to spawn a comically large deposit every single time:
Norway is a true testimony to being patient, intelligent, and nonviolent and things will usually come around in your favor. As an American and a damn proud one. I admire how Norway is ran. Very smart country. With great people.
Thanks. Even Trump wanted more Norwegian migrants to US :)
@@Mosern1977if he wants Norwegian immigrants to come to the US why is he running for president? 😂
all hype
@@craigslist6988should have hade Bernie Sanders as president to attract nordic immigrants
My understanding is that intraparty sabotage prevented him from winning the democratic primary. Never stood a chance.@LasVegar
Thank you so much, very interesting
What a brilliant documentary. Thank you. 👏👏👏👏
36:43 As someone who lives in Bergen, I'll look forward to more rainy day records.
Crying from Askøy :(
@@patriotgamer6996 Ikkje bedre på Alver heller ;D
More than here in Washington state? Unlikely!
@@patriotgamer6996 I can probably see you from my place in Nyhavn :)
@@marisamartin3664: Norway is further north, so it also gets a lot of precipetation. Bergen especially, with 242 rainy days per year.
Had a dear friend move to Norway at the end of 4th grade. This video reminded me of my ol buddy. It’s been 25 or more years but I hope your doing good Erik!
He's good and has 10x your net worth
I know the Erik living in Oslo. He's all good, just had a baby. Don't know the other Erik
@@kenfk3794The other one moved from Oslo to Bodø a few years ago.
They usually dont move back once they have moved there. Go visit him.
This is the sign that you need to make contact with Erik again! He would probably get very happy from hearing from you! 😁
Easily one of the most thorough videos I have seen
12:27 this appears to be an image of Switzerland though :-) anyway very informative piece of work. thanks a lot
As a Norwegian i've seen a few videos like this before. Yours however actually has autentic facts, videos and you get all the important parts of the history correct. This must have taken you weeks to research for. Thank you🥰 (just want to add that the government's pension fund can't invest in Norwegian owned firms and is also very stricked about what it invest in. It can't invest in weapons or other bad things, rather it invest in green energy and things like that. Kinda working against it self in a way.)
Still, Norway is one of the biggest arms exporters in the world. They are something like nr. 20 on the list.
@@9xqspx6 ...AS long as we don't supply Russia and Israel, I can live with being no 20.
There is a separate pension fund (Folketrygdfondet) which is funded by everyone's taxes - that fund holds Norwegian stocks, about 5% of the Norwegian stock market in fact. This includes companies like Equinor (oil), DNB (banking), Yara (fertiliser) and also some Scandinavian companies like Novo Nordisk (pharma).
@@odins1eye So very,very ,sad the way Israel is being dictated over by Netinyahoo with his band of misfits in parlament . He,like trump , is up on multable charges ,so as long as he does war his thing ,he,ll avoid procecution .' His ' war is as terrible as 'poopin,s ' in Ukrane . Hopefully the masses can get him out of the president,s office and into a cell ?? 82% of Israelies are vehemitly against him and want him out .Hopefully soon .
Norway, like Sweden, collaborated with the Nazis. It is also a non-diverse country that basically consists of Oslo and its suburbs, is intellectually shallow and has no knowledge industry.
Norway is my favourite country.I worked in Trondheim as a consultant for one year and loved the city and the people.
In your charity, would you gift me $850 out of your consultacy payout? 😋
hello! I'm curious, was it easy to get adjusted to the social life in Norway in a year, or did you have a hard time as a foreigner? I'm a foreigner in Poland and I'm looking for other options, and since it's hard for me here because of language barriers, I wanted to ask for your opinion.
My comment was removed, lol.
@@donniedarko6699 It shouldn't be too hard. We're a bit anti social, but we're welcoming to foreigners that come here for work. Many find it charming that you've chosen to come to our little country. If you're comfortable speaking English, you'll find no language barrier, outside the older population (70+) most of us are fluent in English.
I've worked with several foreigners, and they've all enjoyed their experience, apart from the difficulty of getting to know the people (takes effort and a bit of luck to get close to a Norwegian, we like our privacy. But it's not impossible).
@@donniedarko6699 it's impossible to socialize in Norway. Norway seems to be quite like Japan (according to what I heard about it) - you are going to stay a foreigner forever whatever you do. It is not pronounced by anybody, but it is just a fact. I live and work here for a year. I don't have even a single Norwegian friend and not even close. Some of my eastern-European colleagues live here for ten years and even more. They have already got a citizenship, the speak fluently Norwegian, even its local dialect, but the situation is the same. One of them told me that once her eldest daughter finds a boyfriend, maybe they will be able to "socialize a bit better here".
PS However, Norwegians are very polite, ready to help you in case of trouble and almost all of them speak English very well. They are just extremely self-sufficient.
Wow. This is fascinating. Never knew any country/government could be this efficient. Thank you for the superb detailed summary
I’m a big fan of your work and deeply appreciate the way you illuminate complex historical and modern conflicts with great care and insight. I’m writing to request a video on a subject close to my heart: the 1971 Genocide in Bangladesh. This event, pivotal for Bangladesh’s independence, led to immense loss and suffering, yet remains underrepresented in global consciousness.
Your ability to present such topics with respect and depth could significantly honor the memory of the victims and educate a wide audience about its significance. A video from you on this topic would not only shed light on a crucial piece of history but also serve as a poignant reminder of the importance of remembrance and understanding.
Thank you for considering my request. Your work makes a difference, and I believe this topic could greatly benefit from your thoughtful approach.
Great video thanks
That was not only fascinating for its own sake, but well worth watching for the relevance of the content in a complex world, not to mention that it was so well presented that I did not even fast-forward through the Brilliant promotion, even though I saw it coming a mile off. Very occasionally I find a sponsor to be actually appropriate for the video content, and yours sure is in this case.
I will certainly find time to watch this again... I am sad to admit that I do not retain this much info watching only once.
I visited Norway in 2022. On a guided tour where the guide was saying that Norway is a huge user of electric cars and alternative energy, all while funding this through fossil fuel sales to everyone else, I asked isn't Norway like a drug dealer, getting rich off a product known to cause negative outcomes while not using the product themselves? The guide replied, exactly yes, and it's a moral dilemma here in Norway.
I don't think it would make a difference in the world if we stopped producing oil, the demand will still be the same, other countries would just export more. If Nike stopped producing shoes, people would just buy Adidas and Puma, they still need shoes
The so-called negativity that surrounds fossil fuel production is one more cog in the propaganda mechanism that directs general public thought, which, once again is upheld by increasing ignorance. Oil production is far more than diesel exhaust fumes. Without it the world’s manufacturing and consumption scenario would not exist. Removing plastics, to name but one key element in today’s society is totally impossible. Another thing is education with regards to its recycling, a subject still in its infancy on a global scale, as is education itself sadly …
@@baltasarmaniandresson4633and the norwegian oil, while still bad is SLIGHTLY greener than oil from for example the UAE
Their strat is sell high buy low
Incredible well done thanks 💰🇳🇴
Wow what an accomplishment for such a small country, thanks for sharing! 🚀
I’m new to the bandwagon.. but what you’ve built here is super impressive. 45min video on Norway gets a million views per day.. Cable TV eat ur heart out
Every commercial brake is like designed to irritate you before sucking out your soul
@@sjetong CZcams premium is the only “streaming” service I have / can afford and this comment just reaffirmed that transaction
Bruh cable tv gets way more views and more money.
You're broke.@@judeau9151
I really like how he will repeat the same thing multiple times with different wording, like he’s stretching out his essay that has a certain word requirement.
Felt especially egregious today. Literally the last third was just reiteration
He does it on every video to increase its length. I can't fully watch most of this channel's videos since it really bothers my need for things to be succinct and to the point lol.
@@skeetsmcgrew3282 I was actually interested in the subject but I just started laughing 5 minutes in, it’s literally unwatchable 😂
@@saturnzbarz979yeah most of his videos are borderline unwatchable, this one especially, spent like the first 10 minutes repeating the same thing. Sad how youtubers will sacrifice their video quality for extra ad revenue.
@@joerogan120 I find it disrespectful to your audience's time. I don't want to listen to reiteration for an extra 15 minutes. I have not clicked on one of these in awhile but thought the topic was interesting.
When I think of Norway I think of, beautiful landscapes, smart, practical and modest kind people.
I will definitely visit your gorgeous country one of these days.
Much love from the Netherlands. 💜🌷
Fascinating topic
Absolutely fantastic video!! I must commend the sheer depth of detail in building up the macro picture from pulling together all the micro bits. Definitely one of the best deep dives into a topic I have ever seen! Bravo 👏
Great vid! I dream of waking up to a day where RealLifeLore posts a video this long on Ecuador, Peru, Bolivia
My great grandfather came from Norway. He was a merchant marine and became vice president of skarapp shipping in Conn.
As someone else mentioned, we had a butter shortage in 2011, and as if that wasn't enough, in 2019 there was a shortage of a very popular spice called "Gastromat". We have since recovered from both crisis' but, it's very hard for us to talk about.
That spice might be great and tasty, but its name doesn't exactly inspire confidence.
Those very frilly edges are providing a lot for Norway. I feel like the designer should win an award.
The Hitchhiker's Guide to the Galaxy. :)
I understood that reference 😉
He did win an award, and his name is Slartibartfast
You’re the best channel when it comes to breaking it down 👍🏾
As a last year university student in bioscience genetic engineering, I love these highly detailed and structure videos to get my history/economic fix!
Thanks!