Although Norway currently does not have an exchange traded fund (ETF), it might soon as its become a hot new source for energy supplies. For years, a harsh climate prevented companies from extracting energy sources near Norway. However, the country recently created one of the world’s most advanced natural gas plants. Within weeks, natural gas will make its way to America as the first commercial energy production from waters north of the Arctic Circle, reports Jad Mouawad for The New York Times.
Besides being the latest place to go for energy resources, Norway has several other factors that make it worthy of an ETF. Its economy is richly endowed with natural resources such as petroleum, hydropower, fish, forests and minerals. Domestic economic activity is, and will likely continue to be, the main driver of growth, as well as high consumer confidence, according to the CIA World Factbook. Perhaps the exporting of natural gas will turn it into a global player?
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.