Norway's Sovereign Wealth Fund: A Petrodollar Powerhouse

After claiming sovereignty over the Norwegian Continental Shelf in 1963, Norway discovered vast oil reserves. In 1990, the Government Petroleum Fund was established to invest this wealth in a diverse portfolio of assets. Today, this fund is the world's largest sovereign wealth fund, boasting over $1.78 trillion in assets – equivalent to over $319,900 per Norwegian citizen. While equities constitute the majority of the fund's value, Norges Bank Investment Management (NBIM) has increasingly allocated capital to renewable energy infrastructure. Ironically, Norway's ambitious green transition, including its near-complete shift to electric vehicles, is fueled by trillions in petrodollars.