The Future of the GPF-G

Ole Bjørn Røste
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Ole Bjørn Røste: Norwegian University of Science and Technology

Chapter Chapter 8 in Norway’s Sovereign Wealth Fund, 2021, pp 251-255 from Springer

Abstract: Abstract The resource deposits in the Norwegian seas became a national treasure with developments in law of the seas that made the coastal states resource owners. With the help of foreign oil companies and hard bargaining public officials, it became possible to explore and extract resources from underneath the seabed, including in deep waters. This marked a contrast to development of oil deposits on land elsewhere. After a long while significant funds were saved and invested in international capital markets. In this process, a number of serially dependent milestones were reached, to earn, save and invest. Technically, Norway may be set for the long term with a fund some three times the size of her mainland GDP, of which only the real return is spent recurrently. The rest of this journey, however, will run across uncharted territory. One is not aware of long-lasting, publicly owned financial fortunes in the Western world to date.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:nrmchp:978-3-030-74107-5_8

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DOI: 10.1007/978-3-030-74107-5_8

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