NewsTracker Answers for week of June 08, 2015

Q: Norway's parliament voted last week to order its $890 billion government pension fund to sell off many investments related to coal, making it the largest institution to abandon some fossil fuel stocks in the fight against climate change. Where is Norway?

Circle the area on this map


Q: Where did Norway get the money for the world's largest state-owned investment fund?

A. Oil

B. Gas

C. Taxes

D. All of the above


D. The fund comes from the surplus wealth of Norway's oil and gas production. It is generated mainly from taxes on oil companies but also from gas and oil leases and dividends from the state-owned oil company. The fund was created in 1990 to counter expected revenue decline as the nation's oil and gas wells run dry. The fund now owns about 1 percent of all the world's stocks and bonds.


Q: Backers of the coal divestment say it helps Norway from compounding the environmental damage caused by its oil and gas production. So far, most of Norway's oil and gas has come from which body of water off the country's southwestern coast?

A. Baltic Sea

B. British Sea

C. North Sea

D. South Sea


C. The North Sea is a marginal sea of the Atlantic Ocean located between Great Britain, Scandinavia, Germany, the Netherlands, Belgium, and France. Besides the North Sea, Norway has oil reserves farther north in the Norwegian Sea, Barents Sea and Arctic Ocean.


Q: In the battle against climate change, Norway may find it tougher to leave its remaining oil reserves untapped. Oil revenue has made Norwegians among the world's wealthiest people. Which of these countries has a higher gross domestic product (GDP) per person than Norway?

A. Bermuda

B. Saudi Arabia

C. Switzerland

D. United States


A. According to the CIA World Factbook, Bermuda has a GDP of $86,000 per person compared with $65,900 in Norway and $54,800 in the United States. The richest nation is oil-rich Qatar with a GDP of $144,400 per person.


Q: Norway ranks among the top 10 nations in the equal distribution of family income. Which of its neighbors has the most unequal distribution of income?

A. Denmark

B. Finland

C. Russia

D. Sweden


C. Russia ranks much lower than Norway in income equality, but it is a little better than the United States, according to the CIA World Factbook. Sweden ranks as the most equal nation with Denmark, Norway and Finland not far behind.