Monday, January 22, 2018

Norway Aiming for Oil & Gas Output to Reach Record Highs by ~2022

Norway Tesla Model X Model S Supercharging (Credit: Click to Enlarge.
Now that oil prices has begun to rise again, Norway’s oil and gas development and output will as well — with output perhaps eclipsing the earlier high of 2004 by as soon as 2022, according to a new report from the Norwegian Petroleum Directorate (NPD).

To word that differently, Norwegian oil and gas investment is expected to begin climbing again in 2018, after 4 years of decreases.

Contrary to the situation in 2004, though, oil and gas investments this go around will be roughly equal, rather than slanted towards oil.

“This is very good news, because everybody is talking about a phasing out of the Norwegian petroleum activity and, at least in the next 10 years, we don’t see that,” explained NPD Director General Bente Nyland in an interview with Reuters.

Yes, very good news indeed — keep the oil flowing, while talking enthusiastically about the “green” future.  That seems to be the path that Norway is now following.

From the perspective of “keeping up appearances,” the strategy does seem to have merit.  From the perspective of limiting the intensity of the anthropogenic climate warming and weirding that’s now arriving, though, such a strategy is of course a dead end.

Read more at Norway Aiming for Oil & Gas Output to Reach Record Highs by ~2022

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