6 ms·

Its going to come sooner or later though. Maybe this could be a good kick in the butt for nations that lived off selling their natural resources for so long tha

Its going to come sooner or later though. Maybe this could be a good kick in the butt for nations that lived off selling their natural resources for so long that they have never bothered doing anything else. Middle east is the biggest offender, followed by Russia and a few in Latin America. A few locals are already voicing concerns on that, e.g.: https://www.youtube.com/watch?v=GvvvomANbRo https://www.youtube.com/watch?v=GvvvomANbRo

aprdm 11y ago
What about Norway?
- theworstshill 11y ago
  Its kill. http://atlas.media.mit.edu/en/profile/country/nor/#Exports http://atlas.media.mit.edu/en/profile/country/nor/#Exports Edit: yeah Norway is definitely going to go to the shatter unless they invest in high tech right now. Compare this with Canada for example. http://atlas.media.mit.edu/en/profile/country/can/#Exports http://atlas.media.mit.edu/en/profile/country/can/#Exports Nor: >50% of exports are crude and petroleum based products Can: ~25% of exports are crude and petroleum based products
  - maxerickson 11y ago
    Norway is notable for not fixing their budget to their oil exports, they've been squirreling it away.
    - ptha 11y ago
      In August 2014, the Government Pension Fund controlled assets were valued at approximately US$884 billion (equal to US$173,000 per capita) which is about 174% of Norway's current GDP. It is the largest sovereign wealth fund in the world https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Norway https://en.wikipedia.org/wiki/Government_Pension_Fund_of_Nor...
  - matthiasl 11y ago
    An effect, from the same charts, which partially mitigates what you're highlighting is that Norway has a totally different balance of exports versus imports: Canada: Imports $437 B Exports $438 B Norway: Imports $92 B Exports $147 B