The Trader 

Market Outlook: Norway to dump oil

The Trader

Norway’s trillion-dollar sovereign wealth fund said yesterday that it plans to start selling up to $35 billion of the oil and gas shares it currently holds.  Some suggest it is to brush up on its green credentials, others that it is a hedge against falling crude oil prices.  But if you think about it, if one’s income stems from fossil fuels is it not putting all your eggs in one basket if you then plough your cash back into the same industry group.  Remember: Enron staff were encouraged to park their pension savings in Enron shares.  

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