Norway's Discovery of Phosphate Deposits

Norway discovered the world's largest supply of phosphate, effectively doubling the world's supply. The discovery is worth around $24 trillion and can power the world's needs for fertilizers, electronics, batteries, and solar panels for at least the next century. While it is a great thing for Norway and the world, it also introduces risks for countries already reliant on phosphate exports and geopolitically powerful players. Lessons can be learned about responsible resource management, Norway's economic philosophy, and the contrast between macroeconomic success and failure.