The Tyee – Oil Wealth: Should Norway Be the Canadian Way?

The Tyee – Oil Wealth: Should Norway Be the Canadian Way?:

Norway's amazing savings account

Norway produces 40 per cent less petroleum than Canada and has one-seventh our population, but has saved more than $600 billion in oil revenue and counting. This is equivalent to about 140 per cent of Norwegian GDP, or about $120,000 for every man, woman and child in the country. In contrast, every Canadian is in the red about $16,000 due to our $566-billion national debt.

While Canada is eliminating 19,000 public sector jobs in an effort to balance the budget, Norway is debt-free, enjoys full employment and has fourth highest per capita GDP in the world. Canada is twelfth.