June 28, 2022

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Gold Rush on Oil and Gas: - A Missed Opportunity

Gold Rush on Oil and Gas: – A Missed Opportunity

Although many countries are now promoting renewable energy, a larger share of the investment goes to developing new infrastructure for oil and gas projects.

Nature and youth leader Jenna Gilfer
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report from Climate Action Tracker He explains that the war in Ukraine led to the fossil gold rush.

Norway, the United States of America, Canada and Japan are among the countries that have increased their oil and gas production, while Germany, Italy, Greece and the Netherlands will work to develop infrastructure to be able to receive liquefied gas.

The researchers who wrote the report warned that investments in fossil energy sources are locking the world into a new period of high carbon emissions, in which the goal of keeping global warming below 1.5 degrees becomes elusive.

“This is another missed opportunity,” says Nature and Youth Leader, Jenna Gilfer.

She is one of many reacting to the fact that Norway and world leaders are not using the situation as an opportunity to shift society away from fossil fuels to renewables.

It’s the same thing we’ve seen during the pandemic, when instead of focusing on long-term solutions, billions were thrown into the oil industry with a tax package that became more and more evident that it was a bad idea, says Gilfer.

At the end of May, Erna Solberg admitted it Error To offer a favorable tax package on oil during the pandemic.

A wave of fossil projects

At the same time as the Norwegian government announces a major investment in offshore wind, it is planned 36 oil and gas projects.

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According to the Norwegian Petroleum Directorate, “The Norwegian continental shelf is facing a wave of projects, and there are prospects for high activity and production in the next few years.”

Many projects are expected during the year, but most projects are relatively small. This means that the level of investment in 2023-2025 is expected to roughly be in line with the level of investment in 2019, says Benedict Solas, director of climate and environment at the Norwegian Oil and Gas Organization.

She believes that the energy crisis in Europe underscores the importance of Norway’s continuing to be a reliable supplier of energy.

The energy crisis in Europe is not caused by the war in Ukraine, but by the failure to switch away from fossil fuels over a long period of time. Then it may be the impossible solution for politicians continuous To trap populations in dependence on fossils, says Frode Plame, leader of Greenpeace Norway.

Norwegian Greenpeace president Frode Pleym, here outside Hurdalsjøen Hotel during surveys between SV, Ap and Sp.

He believes politicians and the oil industry are using the war as an excuse to continue “business as usual”.

It’s cynical, short-sighted, and dangerous, says Pleym.

hasty decisions

It is supported by the Secretary-General of the World Wide Fund for Nature, Caroline Andor.

– The oil industry is very good at exploiting crises to attract current and future investments for more oil and gas production, at the expense of the climate, where the authorities bear most of the risks, she says.

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“We’re concerned about the trend we’re seeing now around the world, with increased pressure to search for and expand more fossil resources,” Andor says.

Secretary-General Carolyn Andor of the World Wide Fund for Nature.

It cites reports from the International Energy Agency (IEA) and the United Nations that say there is no room for new investments in coal, oil and gas, if we are to limit global warming to 1.5 degrees.

A number of countries, including Norway, are now making hasty decisions to further the recovery based on extremely high oil prices. Andor says it may seem that politicians are suffering from short-term memory and have forgotten that the price of oil was $20 a barrel just two years ago.

Responsible petroleum policy

The Secretary of State in the Department of Petroleum and Energy, Elizabeth Sather, does not admit herself to what she calls the claims of environmental organizations.

– The government is pursuing a responsible petroleum policy, says Satheer.

She points out that the world’s population needs stable energy access, and that it will take some time to restructure the global energy system.

Norway will help meet this global need with oil and gas produced with low emissions, while at the same time we will contribute to achieving global climate and emissions reduction goals here at home, Sather says.

Secretary of State in the Ministry of Petroleum and Energy Elizabeth Sather.

Wednesday is coming the report Which shows that Norway only reduced its greenhouse gas emissions by 0.3 percent in 2021. If Norway wants to reach its 2030 climate target, emissions must fall about 20 times faster than they did in 2021.

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By 2030, Norway should have reduced its emissions by 55 percent compared to 1990 levels, according to the government’s political plan, the Hurdahl platform.

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The need for fossil energy

Benedict Solas of the Norwegian Oil and Gas Company, points out that there will still be a need for oil and gas in 2050.

So it must be the oil and gas that can be transported with the lowest emissions and the lowest price that should and should be consumed. Here, Norwegian resources are in a special modeAnd the Solas says.

Benedict Solas, Director of Climate and Environment at the Norwegian Oil and Gas Organization.

According to Solaas, the Norwegian oil and gas industry is working systematically to achieve the 2030 climate goal.

Among other things, work is underway on solutions for hydrogen and carbon capture and storage, as well as further development of new industries such as offshore winds and the extraction of minerals from the Norwegian shelf.

Emissions must peak in 2025: Norway will build at least 30 oil and gas projects

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