Invested their oil wealth in a massive highly diverse sovereign wealth fund generations ago.
Nothing was stopping other countries from doing the same thing. But state investment is “ARGFFHG SOCIALISM BZZZZTT WANT TO BE LIKE VENEZUELA??” so we didn’t.
But where did you get that money Norway? Hmmm?
Invested their oil wealth in a massive highly diverse sovereign wealth fund generations ago.
Nothing was stopping other countries from doing the same thing. But state investment is “ARGFFHG SOCIALISM BZZZZTT WANT TO BE LIKE VENEZUELA??” so we didn’t.
Except for having large quantities of oil, conveniently discovered after the country was stable and industrialized.
The US also has lots of oil
That is totally correct
Indeed. It’s almost like my comment was aimed squarely at certain countries. My own UK and the USA being particularly in mind.
France has very little oil and EV purchases this summer hit around 45%. So it’s doable. High oil prices helps ofc :-)
money for what? EVs are not more expensive than fossil cars
I don’t accept your premise but: EV subsidies, EV infrastructure, social programmes
Norway went the other way. They taxed fossil fuel cars at 100%.