| Welcome to Balance of Power, bringing you the latest in global politics. If you haven’t yet, sign up here. Elections in Norway are usually fairly consensual affairs, without the kind of fireworks seen in the US. This year has been different. First, Jens Stoltenberg, who served for a decade as NATO chief, upended the campaign when he announced his return to government as finance minister. That helped reinvigorate the ruling Labor party’s fortunes and revive Prime Minister Jonas Gahr Støre’s chances of retaining power in Monday’s election. Then this summer, a public outcry over investments in Israeli companies made by Norway’s $2 trillion sovereign wealth fund — the world’s largest — prompted a government-ordered review. Several stocks were sold on the basis of “unacceptable risk” of violating the fund’s ethics code “in situations of war and conflict,” triggering opposition accusations of its politicization during an election campaign. Last week, further divestments followed, including of Texas-based construction-equipment manufacturer Caterpillar. Republican Senator Lindsey Graham, an ally of President Donald Trump, tweeted his outrage at “your BS decision” — and threatened repercussions. Norway is now in the unfamiliar position of seeing its wealth fund, set up to manage surplus revenue from North Sea oil, become a lightning rod for political tensions, despite its strictly apolitical status. It’s a reflection of how geopolitics is intruding in one of the world’s wealthiest — and egalitarian — nations. Polls show Norwegian voters place increasing weight on international issues, and have grown notably more skeptical of the US under Trump. They have watched southern neighbor Denmark fall foul of the Trump administration over Greenland and renewables projects, and there’s a sense Norway’s next government may face similar headwinds, whatever its makeup. One looming flashpoint is the Norwegian Nobel Committee’s announcement of the Peace Prize winner next month. Trump has made no secret of his desire to be awarded the prize. Who can say what might happen if he doesn’t get his wish? — Alan Crawford  Støre and Trump at the White House in April. Photographer: Al Drago/Bloomberg | 
