DN Debate: 'See Here a Norway Story That Sweden Should Learn From'

Sweden stands at a pivotal moment, facing an opportunity akin to Norway's transformative oil discovery nearly 60 years ago. AI technology's insatiable demand for clean, affordable electricity presents Sweden with a chance to harness its existing energy resources, much like Norway capitalized on its offshore oil finds.

The article references Norway's economic boom, which began in 1958 when oil was discovered off its coast. Initially overlooked by experts and found by chance by Phillips Petroleum, the discovery led to the creation of a sovereign wealth fund now valued at 22 trillion Norwegian kroner. A key figure in managing this wealth was Farouk al-Kasim, an Iraqi-born geologist who, having witnessed Iraq's oil wealth mismanagement, was determined to ensure Norway benefited fully.

Norway's success was attributed to three core decisions: building domestic industrial capacity, implementing wise taxation and a state fund for wealth management, and processing the raw material internally rather than selling rights to foreign interests. The author argues that Sweden can learn from this model as it confronts the AI revolution.

Unlike oil, electricity cannot be stored or shipped; it is consumed instantly. Sweden's advantage lies in its existing clean energy infrastructure, though its distribution is uneven, with a surplus in the north and strain in the south. The piece stresses the urgency of developing a national plan for AI infrastructure, identifying where power is readily available to guide development and maximize the value of this resource.

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If we don't mess up the chance, that is.