At today’s exchange rate, Norway’s sovereign wealth fund is worth roughly C$3.09 trillion — an extraordinary figure for a country with a population of about 5.6 million, very close to the population of British Columbia.
That works out to approximately C$546,000 per person.
The comparison with British Columbia is striking because both jurisdictions are resource-rich and have similar-sized populations, yet they chose very different approaches to managing fossil fuel wealth.
Norway heavily taxes petroleum production and channels much of the revenue into its sovereign wealth fund for long-term public benefit. The fund now owns stakes in thousands of companies worldwide and helps finance pensions and public services.
By contrast, British Columbia has steadily reduced the public share of natural gas revenues over the past two decades while expanding LNG and gas extraction. Bonus bid revenues from competitive bidding for gas rights have largely collapsed even as production has increased dramatically.
Categories: Natural Gas, Norway
in-sights.ca 
Thanks, Norm, for continuing to pound the drum about the giveaways in the oil and gas extraction industry.
Aside from the dwindling revenue from lease bids, is there no fee per unit pumped — like a stumpage fee in the forestry sector? Call it a “pumpage fee.”
If there is no per-unit charge for harvesting a finite resource, no wonder they don’t mind flaring off all that energy at the LNG plant in Kitimat.
It’s not enough to employ a few thousand more workers and collect their income taxes: we need to be raising billions per year from the harvesters.
In the past, you’ve mentioned that oil and gas “busyness” puts a positive spin on the province’s and country’s GDP. I’d rather see spinning wind turbines.
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There’s too many consequences missing from the image above.
Such as? What could a sovereign state (or province) provide it’s citizens by employing a higher corporate taxation rate?
Many will deny it is permanent but in BC there seems to be too few Doctors. The problem? BC never has enough tax revenue. Imagine that! Go figure..
Stats…
https://www.ampliz.com/resources/list-of-physicians-in-canada/
According to the latest Ampliz 2026 healthcare database, there are 131,727 active physicians in Canada, serving in various specialties across hospitals, clinics, and private practices. This comprehensive figure includes general practitioners, specialists, surgeons, and locum tenens physicians.
The healthcare ecosystem in Canada stands as one of the most robust and equitable systems in the world. Physicians form the backbone of this healthcare infrastructure, providing high-quality medical care to citizens across provinces and territories.
16,500 = Number of BC doctors in 2026.
https://statbase.org/data/dnk-number-of-medical-doctors/
26,942 = Number of Doctors in Denmark as of 2023
Doctors per capita
https://worldpopulationreview.com/country-rankings/doctors-per-capita-by-country
28.19 = CANADA
49.75 = NORWAY
44.98 = DENMARK
44.77 = SWITZERLAND
43.73 = ICELAND
44.08 = SWEDEN
36.09 = FINLAND
Which countries offer Socialized Medicine?
https://www.healthcare-management-degree.net/list-articles/five-socialized-medicine-programs-around-the-world-that-work/
Germany
Germany leads the European Union with its excellent benefits for German citizens. Their state insurance plan covers 92 percent of the population.
Norway
Norway is unique on our list of socialized medicine countries because its hospitals are not privately operated. Instead, they’re funded by the national budget. They also offer completely free coverage to any resident under the age of sixteen.
Japan
In Japan, the government and the citizens split the cost of healthcare, but not evenly. The state is responsible for 70 percent of a person’s healthcare costs, while citizens only need to cover 30 percent.
Even if you can’t pay, hospitals are required by law to treat people in need and operate as non-profit organizations.
Austria
Austria’s socialized medicine is one of the most encompassing in the world because it accommodates both Austrian citizens and European Union citizens residing in Austria.
Israel
Unlike in Germany, where you can opt-out of the healthcare plan, participating in the Israeli healthcare system is compulsory. Like its military service, Israel tries to get the most of its population to help it grow and benefit more rapidly.
Which Countries offer free Healthcare?
https://www.cgaa.org/article/countries-with-free-healthcare
Countries like the UK, Germany, and Japan offer free or low-cost healthcare to their citizens, but their models differ significantly.
The UK’s National Health Service (NHS) is a publicly-funded system that provides comprehensive coverage to all residents.
Germany’s healthcare system is a social health insurance model, where citizens can choose between different insurance providers.
Japan’s healthcare system is a universal coverage model, where all citizens are required to purchase health insurance.
In the UK, the NHS is funded through taxes and national insurance contributions, making it a cost-effective option for citizens.
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Germany’s healthcare system is known for its high-quality care and low administrative costs, thanks to its decentralized structure.
Japan’s universal coverage model ensures that all citizens have access to essential healthcare services, including doctor visits and hospital stays.
Countries with free healthcare include Canada, France, UK, Australia, Germany, Brazil, and Norway.
There are many more countries that have systems in place to cover essential medical services through public funding, reducing or eliminating costs for individuals.
Some countries with free healthcare include Canada, where medically necessary services are provided free of charge, including hospital stays, physician visits, and diagnostic tests. The UK also has a publicly funded system mainly through general taxation, providing primary care, emergency services, and various specialist services free at the point of use.
Countries with free healthcare:
• Canada
• France
• UK
• Australia
• Germany
• Brazil
• Norway
According to the World Health Organization (WHO), the 10 countries with the best healthcare in the world are:
1. France
2. Italy
3. San Marino
4. Andorra
5. Malta
6. Singapore
7. Spain
8. Oman
9. Austria
10. Japan
Absent from the WHO list? Canada, the UK, the US, and Australia, in short the countries who chose to use politics for social engineering invented what Citibank called the “Plutonomy”.
Decades ago such states voluntarily engineered their political systems to ensure about 5% of their population remained healthy, highly prosperous, and very well-served. This surprised many since the end of hereditary monarchies was assumed to have eliminated such lunacy. As with the Monarchy Catastrophe the bulk of the population were welcomed to pound sand. Witness American health care under King Trump.
Is it surprising that the Plutonomies are in a constant state of turmoil? Lurching from one crisis to another without ever resolving any deep issue permanently?
Returning to the image above and similar articles on this site how well or disastrously a government delivers its promises requires sufficient insight to resist regarding Prosperity as indicated solely by an inflated stock market but instead by how satisfied citizens are that the right ideas are being implemented.
In BC? We’ve experienced 26 years of waiting for anyone political to see what the Scandinavian nations already have achieved. And then copy it.
Discussion?
Source:
Plutonomy
https://www.quantopia.net/blog/understanding-plutonomy-wealth-control-growth-and-economic-impact/
What Exactly is a Plutonomy?
1. The Citigroup Memos: A Revealing Diagnosis
2. The Three Pillars of a Plutonomy
3. The Stark Reality: Plutonomy and Wealth Concentration
4. The Backlash: Political Resistance and the Push for Equity
5. Conclusion
6. References
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