Heating Up and Cooling Down the Petrostate
Heating Up and Cooling Down the Petrostate
The Norwegian Experience
In this chapter Helge Ryggvik and Berit Kristoffersen argue that even if Norway avoided the classic symptoms of the oil curse, it nonetheless has been deeply affected, first by the sheer wealth, then by the power of its own national oil company. Political realism in Norway includes fossil fuel dominance—economic and political. Voices are being heard within Norway questioning the net benefit presumption of continued extraction, let alone expansion. They are saying that enough is enough. Fossil fuels, some are beginning to argue, are no longer legitimate nationally or globally as Norway’s well-being is tied to that of the rest of the planet. What is more, if boom conditions have been difficult to moderate, then bust will be as well; it is time to start stopping.
Keywords: Petrostate, Government Pension Fund Global (Oil Fund), Extraction rate, Ten oil commandments, Blowout, Rate of Extraction, Gro Harlem Brundtland, Environmentalism, Carbon Dioxide Emission Tax, “Clean Oil”
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