Planet Money · Wednesday, July 29, 2026
Norway's approach to its oil riches is characterized by a conscious decision to extract resources slowly over decades, contrasting with many other nations that exploit them rapidly. This strategy, influenced by figures like Farouk Al-Qasim, aims for long-term wealth and sustainability by resisting short-term spending urges.
“They essentially had this gigantic pile of money buried beneath the ground and they said, You know, we're not going to dig it all up at once. In fact, we're going to dig it up really, really slowly, just a little bit every year for decades.”
“The key to long-term wealth is to resist the short-term urges after the break.”
“And they will be shooting not only one, but maybe 20 elephants.”