Norway’s $35B Oil Stock Dump Could Hurt The Industry

Last week the world’s biggest sovereign wealth fund—Norway’s
$1-trillion oil fund—proposed to ditch $35 billion worth of oil and
gas stocks, sending shockwaves through the European oil indexes and
rekindling the debate on the rationale of owning oil stocks in the
long term.   The proposal to remove oil and gas stocks from
the equity benchmark index of Government Pension Fund Global raised
questions about how Norway will keep oil companies investing in its
fossil-fuel industry if it indeed dropped billions of
dollars’…

Last week the world’s biggest sovereign wealth fund—Norway’s
$1-trillion oil fund—proposed to ditch $35 billion worth of oil and
gas stocks, sending shockwaves through the European oil indexes and
rekindling the debate on the rationale of owning oil stocks in the
long term.   The proposal to remove oil and gas stocks from
the equity benchmark index of Government Pension Fund Global raised
questions about how Norway will keep oil companies investing in its
fossil-fuel industry if it indeed dropped billions of
dollars’…