True Patriot Love - March 24, 2026


Norway's Oil Secret： From Embargo to $2 Trillion Empire! #shorts

Hosted by
Shara Micucci Mike Wixson
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Episode Stats


Length

2 minutes

Words per minute

144.0

Word count

341

Sentence count

19


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, I sit down with a former CPA to talk about how the Norwegian oil industry has grown to a $2 Trillion dollar industry in less than 40 years, and how this happened in the midst of the 1973 oil embargo.

Transcript

Transcript generated with Whisper (turbo).
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 Here we were in 1973, a really crazy time in the world where embargoes, and we'll talk about in a
00:00:08.000 minute, the impacts of the embargoes were absolutely insane throughout the world. So the embargo was
00:00:14.160 from October to March, 73 to 74. And here we were, Norway made the decision to go another direction.
00:00:22.640 So Norway said, okay, we're going to get heavily into the oil business. We're going to make it a
00:00:28.880 nationalized industry uh and it's grown and uh you know it's basically grown today to a hundred
00:00:36.480 billion a year revenue business for the country um it does about nine billion in uh net income
00:00:44.720 and it's it's grown to a two trillion dollar industry which has created a wealth fund that
00:00:51.120 is unbelievable for the country the the country uh for a small country and i i was you know i'm
00:00:56.880 I'm always looking for stats because I was an ex-CPA, as I mentioned.
00:01:03.340 I didn't know that there's only 5.6 million people in Norway.
00:01:07.160 So it's a relatively small country, as you probably know.
00:01:10.420 And their GDP per capita is 86,000, which is roughly about 30% more than Canada.
00:01:17.920 We're about 54,000.
00:01:19.840 So it's a fairly wealthy country at a fairly small landmass.
00:01:24.880 only 300,000 square kilometers. So, you know, I was looking at him thinking, wow, this is really
00:01:31.240 interesting. And to your point, what a turning point. Like, it's amazing. Like that policy
00:01:35.880 decision that we made at that time caused us to go down this road. And this company that the
00:01:42.880 Norwegian set up controls basically 60% of the total production. They then branched out and they
00:01:49.760 now operate oil and gas fields in brazil even here in canada china libya nigeria russia uk u.s venezuela
00:02:00.480 processing plants in belgium denmark france and germany and they've expanded to a pipeline
00:02:07.360 building they have a pipeline building now business a solar a wind at home and in scotland
00:02:14.640 in Poland, so they have wind turbine companies, and they have 2,500 gas stations.