Electric vehicles aren't expected to overtake gas-powered cars in the US until at least 2050. But in Norway, it could happen by the end of this year. It'd be the first country to ever do it, and it wouldn't be possible without a little help from the oil industry either. Norway has been on a trend with EVs. In 2023, they made up more than 80% of new cars sold, and that's continued this year. This month, almost 90% of sales were electric, and nearly a quarter of the cars on the road in Norway right now are EVs. Norway has helped move this electric transition forward by subjecting many gas-powered cars to the US equivalent of nearly $30,000 in additional taxes. Taxes EV drivers aren't paying. At this time, the nation's government is offering you a variety of tax incentives on EVs that make them much more affordable. This is help make electric cars considerably cheaper compared to gas-powered vehicles. Norway has spent over $7.5 billion US dollars on these policies over the last two years. That much cash is actually just a drop in the bucket for Norway. The country makes a fortune off the very material it's looking to transition away from. The country's oil fund is the largest sovereign well fund in the world, or at about $1.5 trillion. Every year, the fund spends an average of $4 billion on getting more people in EVs. Norway has also invested some of that money in the world's leading electric vehicle manufacturers, such as Elon Musk's Tesla and China's BYD. This means the number of EVs in Norway is likely to continue to grow, especially with the nation looking to become the first to end the sale of new gas cars. Come next year.