Mind that Norway is a lot smaller, only 5.5M inhabitants, thus per capita the oil revenue is a lot higher. Also in Norway less of the money is going to few private corporations, but to the state, which invests large parts into profitable pension funds, which gives Norway stellar financials and the ability to invest and subsidize into whatever future endeavors they see, like transition to EVs, as they see that oil supplies will tighten up.
> Also in Norway less of the money is going to few private corporations, but to the state, which invests large parts into profitable pension funds,
If only other oil-producing countries had the ability to exploit their oil reserves for their own benefit instead of just giving it away to a few private corporations...
So the argument isn't that Norway is rapidly adopting evs because they have large oil reserves, the argument is that Norway is adopting evs because they setup their oil reserves so the profits benefit everyone and not just big corporations.
