• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 2 hours Biden admits he has been tested for Cognitive Decline several times. Didn't show any proof of test results.
  • 28 mins During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 5 hours Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 16 hours Apology Accepted!
  • 42 mins Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 3 hours The Political Genius of Donald Trump
  • 18 hours U.S. natural gas at major disadvantage in Europe and China.
  • 19 hours Biden came out of his basement today (Thursday) and said , "we have 120 Million deaths from Covid 19.
  • 2 hours Why Oil could hit $100
  • 19 hours Putin Paid Militants to Kill US Troops
  • 24 hours Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
  • 24 hours The world is headed for big problems - interview with very smart economist
  • 1 day CoVid in Spain, 9 months before China

Opposition Says Norway Is Buying Itself Out Of Climate Goals

Norway will be increasingly tempted to fund carbon emission cuts abroad instead of reining in its own greenhouse gas emissions in order to reach its ambitious 2030 climate goals, a member of the opposition Socialist Left party, SV, said on Monday.

Norway has one of the world’s most ambitious net zero carbon goals—to achieve net zero carbon emissions by 2030, which was enshrined into law in 2016, but which comes with the caveat that Norway can use the so-called carbon credits—financing greenhouse gas reductions in other countries—to offset its own emissions.

According to Audun Lysbakken of the Socialist Left party in Norway and a former minister in a previous Labor government, “The closer we get to 2030, the more difficult it will be to reach our climate goals.”

“It will become more tempting to buy ourselves free of them,” Nina Berglund at newsinenglish.no quoted Lysbakken as saying on Monday.

While Norway has ambitious climate goals, neither the Labor party—currently in opposition, nor the ruling Conservatives are inclined to limit Norway’s oil and gas production. Smaller parties who are part of the coalition governments of either Conservatives or Labor in recent years have called for the government to pay more attention to climate-related issues, but they have had to compromise on many occasions.

Norway’s own domestic emissions are rising, the statistics office Statistics Norway said earlier this month. Greenhouse gas emissions increased by 0.4 percent in 2018 compared to 2017, according to Statistics Norway.

Emissions from oil and gas extraction jumped by 75.6 percent between 1990 and 2018, but over the past year emissions from oil and gas extraction dropped by 1.4 percent, according to the statistics which also showed that total energy supply emissions fell by 5.1 percent annually in  2018.

On the day on which the debate over Norway’s emission goals and the ways to achieve them was rekindled, Norway’s oil and gas major Equinor said that it had made an oil and gas discovery in one exploration well in the Norwegian Sea.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News