Norway's population is small compared to its vast land area, with a low population density.

• Norway has around 5.2 million people, fewer than city-states like Singapore and Hong Kong.
• The country's land area is about 385,000 square kilometers, larger than Japan but with far fewer people.

Norway's harsh climate and geography present challenges for agriculture and population support.

• The northern region stretches beyond the Arctic Circle with a thin layer of soil over bedrock.
• Only 2.2% of the land is arable, similar to Yemen, with agriculture scattered across the south.

Norway's agricultural sector is limited and inefficient compared to American farms.

• Norwegian farms are small and fragmented due to the mountainous terrain.
• The average farm size in Norway is significantly smaller than in the United States.

Contrary to popular belief, Norway was wealthy before oil discoveries due to non-agricultural factors.

• Norway's wealth historically stemmed from forestry and a marine-based economy.
• Before oil, Norway's GDP per capita was higher than most of Eastern and Southern Europe.

Norway's geography with its long coastline and fjords has been advantageous for maritime trade.

• The coastline facilitated maritime culture and transport between settlements.
• The fjords allowed easy access to Norway's forestry resources for trade.

Norwegian culture of cooperation led to a decentralized wealth distribution and economic structure.

• Communities cooperated in shipbuilding, with ownership shared across townspeople.
• This led to a society with less centralized capitalist power compared to other European nations.

Oil discovery did not make Norway rich but enhanced its existing prosperity.

• Norway was already a prosperous nation before the oil boom, with a high GDP per capita.
• The discovery of oil in the late 1960s boosted Norway's wealth even further.

Hydropower revolutionized Norway's potential and supported its industrial boom.

• Hydroelectric dams provided abundant energy, leading to rapid industrialization.
• Norway became a significant aluminum producer due to abundant energy supplies.

Norway developed its oil industry by allowing foreign investment while ensuring eventual national control.

• Foreign companies were allowed to invest in Norway's hydroelectric potential with long-term turnovers to the state.
• Norway applied similar pragmatic strategies to its emerging oil and gas industry.

Significant oil and gas discoveries in the North Sea led to an economic boom for Norway.

• Discoveries like the Ekofisk field in 1969 transformed Norway into a major oil producer.
• The oil fund was established to secure the nation's wealth and future.

Norway's strategy focuses on exporting oil and gas while maintaining a sovereign wealth fund for economic diversification.

• Norway exports most of its oil and gas, utilizing renewable energy resources for domestic consumption.
• The sovereign wealth fund, fed by oil and gas revenues, is the world's largest and diversifies the economy.

Norway is transitioning to renewable energy and electric vehicles to reduce domestic fossil fuel consumption.

• The country's electric grid is nearly 100% powered by renewables like hydro and wind.
• Tax incentives have led to a high adoption rate of electric vehicles, further reducing oil dependency.

The Russian invasion of Ukraine led to increased demand for Norwegian oil and gas in the EU.

• The EU's move to reduce reliance on Russian energy opened the market for Norway's oil and gas exports.
• Norway's revenue from oil and gas exports soared, further enhancing the sovereign wealth fund.

Norway's potential in rare earths and minerals could decrease Europe's reliance on foreign, often autocratic, suppliers.

• Recent discoveries of phosphate and potential rare earth elements can make Norway a key supplier to the EU.
• These resources are crucial for technologies and the green energy transition.

Norway is leveraging its energy and resource wealth to gain geopolitical influence and secure its economic future.

• Norway's strategic use of energy exports and resource discoveries positions it as a significant power in Europe.
• The country's policies ensure long-term prosperity and energy independence.

Norway's forward-looking energy strategy ensures its growing global influence and domestic prosperity.

• Norway's investments and policies have enabled it to become a dominant player in the global stock market.
• The country's approach to energy exports and domestic electrification creates a sustainable economic model.

Norway's prudence and strategic thinking have set the country on a path to continued prosperity.

• Norway's Sovereign Wealth Fund ensures future generations' prosperity.
• The country's strategy of exporting energy while focusing on renewables at home is a model for sustainable wealth.