Norway is utilising the profits from its oil & gas to transition to green and at the same time bolster its national pension fund.(Oil & Gas profits go into Norwegians pension fund unlike ours which is DIY.
Similarily we should be using the proceeds from our Coal & LNG to finance our green transition , particularly our transition to EVs, rather than crueling the average Aussie working stiff who can't even afford an EV.
Norway nationalised its oil & gas in 1973 at the same time as Geoff mooted "buying back the farm" . Of course we mugs voted out Geoff leaving our IO, Coal & LNG foreign owned or vastly foreign owned.
How stupid were we then?
And did Norway's & Saudi Arabia's nationalising their natural resources in 1973 alienate them from the USA: on the contrary they maintained cordial relations with the USA and still do!
Had we done a Norway in the early 1970s we would now have 3 times the Sovereign Fund of Norway ie: over $7.0 Trillion AUD with no need for self funded Super
