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Environment & Energy Report

Norway’s $2.6 Billion Bet Could Help the Planet: Green Insight

June 30, 2020, 10:00 AM

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Plentiful reserves of fossil fuels and rich seams of valuable minerals are no guarantee of national health, wealth or happiness. The “resource curse” has blighted many countries: Venezuela and the Democratic Republic of Congo, for example, have suffered from years of graft, civil unrest and poverty.

After discovering oil in the 1960s, Norway has managed to escape these troubles. It allied fossil fuel extraction to a robust judicial system and political institutions, and created what is now the world’s largest sovereign wealth fund. Norway has become Europe’s largest producer...

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