Does Norway perform well in various well-being metrics essentially because Norway is extremely oil rich?

(I don't pretend to know the answer, and ask because I don't see how to figure that out)

jplrssn 7 months ago | parent | next [-]

It's a good question. If that were the case, I would have expected to also see other oil rich countries at the top of those rankings.

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thrw42A8N 7 months ago | parent [-]

Norway is uniquely located among those, though.

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vlovich123 7 months ago | parent [-]

It’s uniqueness is more how they manage their petrol dollars through a government investment fund rather than subsidizing government services directly or giving back the money to buy popular support like you see in Alaska.

	▲	tharmas 7 months ago \| parent [-]
		Yes, well managed indeed! Far superior to what the Canadians did with their oil wealth. The Norwegians negotiated a good price for their oil. The Canadians practically gave it away. https://thetyee.ca/Series/2012/08/01/Norway-Petro-Wealth-Ser...

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mediaman 7 months ago | parent | prev [-]

Yes, they're just a petrostate. Over half their economy is oil and mining.

	▲	currymj 7 months ago \| parent [-]
		they separate out oil activities in their national accounts. “Mainland Norway” GDP is also not bad compared to neighboring countries. although it doesn’t measure indirect effects of oil wealth on other sectors. but still, “petrostate” isn’t really accurate.