
The Nordic Exception - Part 5: The Trillion-Dollar Shield and the Ethics of Abundance
The Nordic Exception 1 The 1909 DNA of Sovereignty 2 The Decisive 33rd Well and the Ten Commandments 3 Victoria Terrasse and the Great Tax Squeeze 4 Seabed Soldiers and the Condeep Giants 5 The Trillion-Dollar Shield and the Ethics of Abundance The Zero-Balance Paradox In 1990, the Norwegian parliament passed the law to create the Government Petroleum Fund. Yet, for the first five years, the fund’s balance remained at zero. Norway was emerging from a brutal banking crisis and an economic bubble that had seen house prices double and the stock exchange quadruple before crashing in 1987. The country had learned a bitter lesson: success in raking in revenue is useless without a disciplined strategy to manage it. ...








