New briefing exposes Norway as Europe’s most aggressive oil and gasoline explorer


FOR IMMEDIATE RELEASE

February 8, 2022

Contacts:
Silje Ask Lundberg, silje@priceofoil.org (CET)
Romain Ioualalen, romain@priceofoil.org (CET)

New briefing exposes Norway as Europe’s most aggressive oil and gasoline explorer
Speedy ramp-up of licensing makes Norway a ‘poster baby for local weather hypocrisy,’ teams say

OSLO, NORWAY — A brand new briefing launched right this moment reveals that, regardless of claiming to be one of many world’s local weather leaders, Norway has exponentially ramped up its exploration licensing over the previous 10 years, making it Europe’s most aggressive explorer for brand spanking new oil and gasoline. Permitting additional growth of already licensed Norwegian oil and gasoline reserves might unleash local weather air pollution 60 instances higher than Norway’s annual home emissions.

“Staying beneath 1.5 levels requires a speedy wind down of oil and gasoline manufacturing and it’s rich producers like Norway which have the means and the accountability to maneuver first and quickest,” stated Oil Change Worldwide senior campaigner Silje Ask Lundberg. “As a substitute, Norway has within the final 10 years awarded as many exploration licences as within the 47 years prior. This speedy ramp up of oil and gasoline licensing is incompatible with local weather management.” 

The briefing, printed by Oil Change Worldwide, identifies two key steps the present Norwegian authorities can absorb 2022 to sign that it’s critical about its dedication to the Paris Settlement objectives, and to start to align its oil and gasoline insurance policies with the important 1.5°C restrict: halt the exponential licensing system, known as the Awards in Predefined Areas (APA), and reject Equinor Vitality AS’s upcoming bid to develop a serious new oilfield within the Arctic.

The important thing findings of the briefing are:

  • Over the past 10 years, the Norwegian authorities awarded as many exploration licences – 700 – as within the 47 years prior. From 2012 to 2021, new licences issued by Norway opened up 2.8 billion barrels of latest oil and gasoline sources for potential extraction, nearly 3.5 instances greater than Europe’s second-largest producer, the UK.
  • Allowing growth of oil and gasoline fields which can be already licensed, however not but producing, might result in an extra 3 Gt of CO2 emissions globally. That is 60 instances Norway’s annual home emissions. New licensing might improve these emissions by 80 %. 
  • If accepted, Equinor’s proposed Wisting area within the Arctic area of the Barents Sea, might result in emissions of greater than 200 million tons of CO2, equal to the annual emissions of fifty coal-fired energy vegetation. The local weather affect of the Wisting area might be thrice higher than that of the Cambo area, the controversial U.Okay. mission paused in late 2021 within the face of huge grassroots opposition.

A rising physique of proof, most not too long ago from the Worldwide Vitality Company (IEA), reveals that permitting growth of latest oil and gasoline fields not to mention approving exploration for brand spanking new oil and gasoline reserves is incompatible with limiting world warming to 1.5°C.

“Norway was one of many first international locations on this planet to ratify the Paris settlement, however on the identical time they’ve continued an exponential development in oil and gasoline licensing,” Lundberg continued. “The primary steps the federal government ought to undertake in 2022 to start to align its oil and gasoline insurance policies with the important 1.5°C restrict are to halt the exponential licensing system and to reject Equinor’s bid to develop the Wisting oil area.”

Click on right here to learn the total briefing: https://priceofoil.org/norway-briefing-2022

Norwegian local weather and environmental leaders responded to the briefing’s findings:

Frode Pleym of Greenpeace Norway stated:

“This briefing reveals how Norway is a poster baby for local weather hypocrisy. Each new exploration nicely and each new oil area that Norway permits undermines a well-planned simply transition and is a step nearer to local weather chaos. Investments must be redirected to scale up new, inexperienced industries throughout the nation and guaranteeing a simply transition so that each employee can retrain and transfer into inexperienced job.”

Truls Gulowsen of Buddies of the Earth Norway stated:
“The science couldn’t be clearer: there isn’t room for any fossil gasoline developments if we wish a habitable local weather. And but the Norwegian authorities simply issued over 50 new exploration licences within the susceptible Arctic environments of the Barents Sea and is optimistic in direction of the Wisting oil and gasoline area, some 300 kilometres north of Norway’s northernmost coast. This new briefing reveals unequivocally that Prime Minister Gahr Støre must halt enlargement into the excessive Arctic instantly and begin a simply transition away from fossil fuels that creates safe, inexperienced jobs over the whole nation.”

Karoline Andaur, CEO at WWF-Norway stated:

“This briefing states how Norway is on the incorrect monitor. New oil exploration locks capital and experience right into a sundown trade, an incredible impediment for a inexperienced and simply transition. Continued funding has a draw back whatever the final result: If the world’s local weather coverage succeeds, Norway dangers abrupt market fall, which entails massive monetary losses for the state and welfare threat. And if local weather coverage doesn’t succeed, the elevated emissions will do irreparable injury to the planet, which can have financial penalties that far exceed a brief earnings from oil and gasoline.”

###

Notes:



Supply hyperlink

Previous post ‘Euphoria’ Reclaims High Spot as Most Fashionable Present on Twitter
Next post Samsung Galaxy S22 Extremely Gives the Final and Most Premium S Collection Expertise But – Samsung Newsroom U.Okay.