Quote:
Originally Posted by gars
Norway also only has a population of just under 5 million people. With such a large oil reserves, of course they can spend tons of money.
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Sorry, let me clarify what I meant.
Norway has an Oil Fund, which is actually a Pension Fund, but unlike a regular pension fund, it gets money from oil profits, rather than pension contributions (CPP etc in Canada). What I'm implying is that Norway, as a more social country, doesn't allow oil corporations to rape the profits which mostly benefits the rich.
Alberta has a population of 3.7 million compared to 5 million, not that much significantly different, has again about $14 Billion where as Norway's fund is worth over $570 Billion.