Keep pulling the thread on Jens Stoltenberg.
Norway's Pension Fund currently has a total value of over 21,000 billion Norwegian kroner (NOK 21 trillion).
Norwegian law mandates that 100% of the state's revenue from oil and gas activities is deposited directly into the Pension Fund.
Norway implemented a 78% tax rate on oil companies operating on its continental shelf.
In 2001, Norway established the "Handlingsregelen" (fiscal spending rule), which stipulates that only the expected real return of the Pension Fund can be used to cover government budget deficits.
In 1997, Norway's Pension Fund began investing in equities, initially allocating 40% of its assets to stocks.
Norway's direct revenue from oil and gas activities, including taxes and dividends, has contributed 9,600 billion Norwegian kroner to the Pension Fund.
The investment returns from equities and bonds have contributed 13,500 billion Norwegian kroner to the value of Norway's Pension Fund.
Norway's Pension Fund has earned more from its investments (13.5 trillion NOK) than from direct oil and gas revenues (9.6 trillion NOK), making it more of an equity fund than an oil fund.
A total of 4,000 billion Norwegian kroner has been withdrawn from Norway's Pension Fund over its lifetime to cover government budget deficits.
In the current year, the Norwegian government is withdrawing nearly 600 billion Norwegian kroner from the Pension Fund, which is approximately 3% of the fund's value.
Withdrawals from the Pension Fund currently finance almost 27% of all Norwegian government expenditures.
The United Kingdom has produced a similar total volume of oil and gas as Norway but has not established a sovereign wealth fund, having saved none of the proceeds.