Can Norway start handing out some of those resource W's to the rest of Europe please? They're playing civilisation on easy mode here
this post was submitted on 11 Jun 2024
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Norway and the US are using hacks. Whenever there's a shortage of something, a farmer in Bumfucksville, Iowa or fisherman in BΓΈmfΓΈkstad, Norway finds some immense reserve of it.
BΓΈmfΓΈkstad lmao
Haha Sovereign Wealth Fund money printer goes Brrr.
The fund owns 1.5% og the world traded stocks. Madness.
It looks like madness because it's something that's almost completely absent from politics around the world: thinking past the next election!
Ok, the government has this oil money what should we do with it? Give everyone tax cuts? Build giant vanity projects? Throw a year-long nation-wide party with a kilo of cocaine for every household?
Nope, let's invest it into a government owned diverse market fund so the social security of our citizens is sound for generations to come.
Took them an oil crisis (70s) to figure this out to be fair.
And it pays for public pensions. I see that as an absolute win. If there's going to be exploitation of the working class, at least let it be to care for old bums.
Ye no. We lived here for 12000 years mostly in poverty and conflict.
Only the last 60 years have been good. And people want us to get fucked for it.
Then can you stop killing whales at least?
No way Norway
Yeah this is why norway should have stayed as a part of sweden /s
Sweden should invade Norway, then capitulate and get absorbed into all their wealth.
We have volvo and saab! And Ikea!
The rare resources were not uncovered on the map before the technologies to use them were researched
Thumbnail makes it look like they were under somebody's bed
2024 June 7
(...) After three years of targeted exploration, REN calculated this week a JORC-compliant inferred resource of 559 million tonnes at 1.57% total rare earth oxides (TREO). This means that the Fen carbonatite complex contains 8.8 million tonnes TREO with a reasonable prospect for eventual economic extraction, the company said. (...)
https://www.mining.com/rare-earths-norway-says-its-ree-discovery-is-europes-largest/
https://www.ga.gov.au/scientific-topics/minerals/mineral-resources-and-advice/australian-resource-reviews/rare-earth-elements "The group of metals referred to as rare earth elements (REE) comprises the 15 elements of the lanthanide series. Metals in the lanthanide series are: lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), promethium (Pm), samarium (Sm), europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb) and lutetium (Lu). In addition, yttrium (Y) and scandium (Sc) are often grouped with the lanthanides and referred to as REE."
Very good yes ... and since all these are quite valuable, this few million ton's discovery is likely to be worth tens of trillions (β¬ or $)
Can somebody explain what rare earth and metals we are talking about? Why does the article not mention that?
Rare earth metals are typically all found in the same ores.
Norway about to get richer again!
China joins the chat.
I heard Norway needs a little more freedom