The resistance to wind farms has more to do with our attitude to preserving nature and less to do with power. Also we use water for power in Norway, not oil or gas.
It's also a Not in my Backyard (NimB) kind of attitude, which is annoying. Also berry picking spots being made inaccessible. Although, with the powerlines connecting us to the rest of europe incresing our capacity would be a good idea.
@@Jo-Heike Wind blades kill birds and look like shit, but most powergenerating fascilities are bad for our natural environment. I don't see any solution myself.
@@Jo-Heike When it comes to not in our backyard and cherry picking. Providing power for the rest of Europe cannot be the responsibility of one nation, and frankly the rest of Europe would do the same, there's no reason for us to always be the best in the class. Saving the planet or providing power for Germany is too big for us to fox on our own. So it will always be not in our backyard or cherry picking. Whatever you choose to call it.
@@TullaRask "Merriman concludes that 1.17 million birds are killed by wind turbines in the US each year. This is a lot of birds, but it is only 0.016% of the estimated 7.2 billion birds that live in the US. It is also significantly less than the 5-6.8 million killed each year by communication towers, the 60-80 million killed by automobiles, the 67-90 million killed by pesticides, or the 365 million to one billion killed by cats each year in the US, according to a study published in Nature." A quote from the energy monitor (a website). I don't think bird mortality can be considered a major reason not to develop our wind energy generation capacity, particularly when you consider we can create offshore wind farms, or look for methods to minimize bird deaths (like painting a turbine black, which is suppose to help). Another factor is that the current rate of global warming is causing a mass extinction nature, which is a lot worse for the birds that a few windmills. Your argument about "wind blades looking like shit" is a not in my backyard argument. Also, really, as long as you can't hear the wind mils does seeing them on the horizon really ruin your day? I personally like their appearance and wouldn't mind if I lived within site of a wind farm.
@@TullaRask We live in a capitalist society, selling electricity to the rest of Europe benefits us directly, and also means they might not have to keep so many coal plants open. Sure, it shouldn't be solely our responsibility, but that doesn't mean we can't do our part. Also, saying that we are the best in class isn't entirely correct, we are an oil producing nation, and have contributed a lot more than most other countries to global emissions, particularly compared to our small population. We should and can do more to offset that besides stepping down our production of fossil fuels.
14:49 You're missing the main point there. The limit isn't just there to save the oil for later, but more importantly, to save the *rest* of the economy, so we have something to fall back on after the oil is gone.
The oil and gas fortune is placed in the Government Pension Fund Abroad to finance pensions for the future generations. As per day it's almost 20 000 billion kroner. A lot of money, belonging to the Norwegian people, not to a few big international oil companies and moguls.
Oil is going to be very important for all of the world for decades still, that's just the reality. There are of course some people here in Norway that would rather just stop everything today, but it would not only be devastating for our economy, it would make oil prices everywhere in the world also skyrocket and ruin economies everywhere. Transitioning to a green renewable future takes time, and it has to be done right. I just wish that countries like Qatar, UAE and Saudi Arabia would also work more towards a green future, rather than build insane construction projects in the desert.
I was on the "stop it all, right now" train, until I thought about it for a longer period of time. I ended up understanding that since we do it the cleanest, it's best if we just took over everything. If Norway took over all oil extraction in the world, upgraded the platforms to Norwegian standard, we wouldn't be in such an issue.
Norwegians are not a greedy people and have a strong and ancient culture and sense of identity. They are not interested in flaunting their wealth. In Bergen a few years ago I asked why all the houses looked much the same. I was told that living in a big fancy house was regarded as bad taste. They also are the biggest shipowners in the World.
If you want to see a drama series set in the time when Norway hit oil, NRK produced a beautiful show called Lykkeland. No idea how you would stream it, but the first series is exactly this.
The video was right about how oil has had negative consequences and not just good ones. The housing market is crazy. The average Norwegian income is high... however it is distorted by the super-rich being counted in when calculating that average. So yeah, Norwegians are richer than people in other nations, but the housing market and the other prices are way too high. That average income number is very rose-tinted, and for those who are below average, the high prices of stuff in Norway are problematic and painful to experience. The average person might manage but it is still expensive for them too.
First off, I get your point. Don't get me wrong when I say this, because I know of the struggles one can have in Norway. As someone in the bottom bracket when it comes to income, being unable to work for health reasons, life isn't too bad. Living in a medium sized city I rent a nice flat, eat well, travel occationally, participate in activities with friends, and so on. I really appreciate how this wellfare system works, as I would live on the streets for sure if american. It would be nice to have more money, as it would mean less worries, but still pretty good. I save on not owning a car, being reasonable when it comes to clothing etc., buying loads of food at a time, and you get the picture. For me, and a lot of people who are retired or disabled, it kinda works out well enough. The biggest problem for those in my situation is that many have LOTS of high interest loans from the period right after they don't work, since you would still need to pay mortage/rent, car, and general lifestyle things, while the income is cut by 40%. It takes time to change out your entire life in that way. With, let's say, 2 kids on top of that, you want to wait to the end of the school year before you move, maybe they have some expensive hobbys, and what not. It's very easy to end up with huge downpayments every month on a much smaller income. I feel for those who end up there.
@@Jo-Heike Apparently it is. I think it might be due to reasonable loans, that is how my aunt recently got a place, but I am still shocked about the ownership number.
@@oceanmythjormundgandr3891 It's a point of pride for many people, and the government. Although, as Bass said, renting is also reasonable. Like both rent, and buying homes is cheaper in Norway than in America on average, if you look at the cost of living (at least one of those is higher in America, but that's because their market is insane).
'Dutch disease' goes wayyy back. Like to what Shell has done. Shell is a secondary dutch company and is responsible for much of the taking of oil off the coast in Africa. My ex worked for a tech company that supported the oil companies and he saw all this first hand all around the world. What I was told was that Norway hired a philosopher when they struck oil, not an economist. Hence the difference.
@@steveboy7302 cause he is a petroleum geologist lmao? the dude probably knew and studied the outcome oil have had on countries ^^ not just how to find and extract oil would be my guess ^^
Jens Evensen was the person responsible for the development of "Oljefondet" and if it had been set up at the time he wanted it, the amount in it would be about double of what it is now. "Statoil" had a philosopher on the payroll, but he was not a major part of policy decisions. What we learned from handling the early hydro power development is really the main reason for a different approach to oil development. Living in Stavanger with many of my family in the industry from the very start, I can guaranty you that we where not free from "Wild West" situations.
I am so proud and grateful for the generation that made the rules around oil. They are the reason we can live as well as we do now. They handled it so well! We owe them so much.
Nice video. Not sure I agree about the last critisism though. Norway do many green inititives all around the world, pr capita more than most countries. Some say we should stop producing oil and gas, but the world need it more than ever before, also to fuel the green change. Norway will also build huge offshore windfarms the coming decade, and is leading in floating windturbine technology. We are also building giga battery factories and have large companies within solarcell technology.
Equinor is also one of few major oil companies to have set a zero-emission deadline, this has been set to 2050. The offshore windfarms that you mention will begin the firt phase in the first quarter of next year.
Never forget what oil is used for! It's not only fuel. From toys,to electronics and clothes. Even emportant things like medical equipment. We need to slow some things down here...
at the beginning, i think you missed the premise. the prompt for "Why oil doesn't corrupt Norway" isn't that Norway is in danger of being corrupted, but rather a comparison to countries like the US & Russia which *have* been corrupted by oil already (think Russo-Ukraine war, annexation of Crimea, gulf war, Iraq war, etc.)
Check out Røros, cute little mining town! World heritage, 2 main streets with historical houses and the mining museum! It's a small mountain town located inland, deep within the Norwegian mountains. As such, it's one of the coldest places in Norway
20:43 Honestly part of the reason for that increase is geopolitics. Europe *needs* a alternative to Russia as a source of energy, and the EU has been pushing for increased extraction in Norway, especially of natural gas. That said, we can't entirely blame Europe, we also have political parties that's concerned about job loses if the industry dies too fast...
@@hwplugburz Yeah, but the increase is still harmful. Some of the areas they wants to use is important for maritime life, and other areas is dangerous with a high risk of spilling oil. I'm a green voter myself. *If* we could get assurances that we'll genuinely get a end to the oil production and gas production soon, something like a ban I'd actually be okay with a temporary increase in production. But it's hard to trust the larger gray parties in this matter.
we in Norway think a lot about nature we spend a lot of time cleaning rubbish and we also have a lot of electric cars we do a lot for the environment we are proud of the nature we have here but countries can't just see us as a problem with oil.
We also have one of the higest cost of patrol and cost of a car is so high and its less expensive to get a electric car. Altogether, 16 percent of all private cars in Norway are now electric cars and in 2021 65% of all cars sold had only an electric engine. Gas prises per liter is about 24kr. So to fill 60 liter are going to coast about 1440kr
When it comes to our attitude to oil, it has something in common with our attitude to water. We have a lot of it and use it to power most of our country. I don't remember when, but our government didn't want outside and private forces to run all our water supply, so the government expropriated it all. It's been run by local and national government ever since. Now there is some parties who would like to sell it out, but some local monicipalities earn a lot from those recources and pay services for their local people with the money they earn. I think maybe when oil came a long and it had to be handled, they used the experience with water to build up the oil sector. In Norway we have the attitude private companies serve the people, not the other way around. So when the government comes and says we want to do this ourself and you have to do as we say, naturally the outside companies run to the negotiating table instantly, because they have no other option. If they don't cooperate a nation can always use their own people to do the job for them. If Norwegians can see this will work, we will help them out, and if it doesn't work we know they will turn around eventually.
The housing issue isn't as much that we make too much money. The problem is that housing is so expencive now, that young adults cannot afford to buy a place to live. Perhaps never. So they are stuck with renting. At this point, you really have to be a couple to be able to afford a small flat. :-/
we see how other countries can create chaos with prices and power distribution, thus oil is much needed until we can replace it properly! but most countries are not doing such things meaning it's not gonna end soon. but we can do smart solutions like lessen the power usage of items and also have more solar/wind/water power, perhaps better batteries that hold the power longer and much more of it as well as less disposable tech/items which pollutes and also uses far more power in production.
Energy in Norway is a HIGHLY discussed topic, all the time. Wind energy may be greener than oil, but it's not as green as you think. (Microplastics, the windmill blades are just dug down once replaced and not reused somehow, kills thousands of birds each year, not to speak of the invasive nature of just building one windmill farm on land. As well as the sound they make and the impact it has on those living close to them. With our cold climate you also have to be aware of ice flying off the blades) Water energy is also debated, closing down streams for poweplants have impact on the surrounding nature as well. Wave power is an option as is fresh to saltwater energy. But we need to invest a lot into it to figure out the best way to do it as to not ruin the very nature we wish to preserve. (Not to touch on the selling of these power plants to foreign owners, and how the export of power makes our power prices skyrocket due to the EØS agreement etc) Oil is very important to our economy, no doubt about it. And we should use a fair share of that wealth in renewable resources and their improvement.
No better explanation of the "curse of oil" than CPG Grey's video "The Rules For Rulers" at about the twelve minute mark. The whole video is mind blowing, but that part directly explains it.
17.00 Most of the oil fund is placed in the wall street/central banking system. And I have read that the deposits will not be paid back to Norway, but only the return annually. 3%? In Iraq, the USA now takes about 93-95% of the oil/profit. Something like that. The Norwegian state has become rich mostly from high taxes and duties. Norway has the highest price per liter of gas and is heavily taxed too, especially cars are heavily taxe
The thing is, stopping oil and gas production would just disrupt the global economy, as you can see from the situation with Russia now. I mean, trying to cut demand by cutting down on the supply is no different than throwing someone into the water in an attempt to teach them how to swim. So instead of making an abrupt end to production, which would then have to be compensated for by dirtier producers, Norway is instead trying to encourage other nations to wean themselves off oil and gas (like promoting the transition to blue hydrogen to replace natural gas for example), and tries to lead by example in that regard by being an early adopter of electric cars etc. Some consider it hypocrite, but it's actually the more responsible approach.
ref: 8:42 If you have a look at the map the UK part has islands much further out then Norway. So you can just as well say that they got the better part of the deal. As luck have it the resources on the Norwegian part is larger, but several fields was divided because of the position of Shetland and Orkney islands.
The Orkney and Shetland Islands were the dowry for the marriage of a Norwegian princess to the heir to the Scottish throne which never took place because she died beforehand. Scotland took them anyway. Legally the Norwegians could have claimed them back but never did. This could become very interesting in the event of Scottish Independence from the UK.
@@grahambaldwin9801 Hey, I know that story. It's one of the bits of history they tell you when you study Norwegian, with a bit of history and culture. Norway isn't going to get into a pissing contest with Scotland to take back those islands. I think the average Norwegian feels close with their Scot neighbours. Loads of cooperation in the North Sea, taking that oil out. My ex was in Aberdeen all the time, working with his Scottish counterparts in the oil industry.
Theres a pritty good TV-drama series called "State of happiness" that tell the story of the early days of Norways oil-history. There was a lot of Americans working for phillips petrolium involved, (some American acters in the series as well), that opened upp this fantastic adventure for Norway, and as a nation we actualy have a lot to thank them for. Not least the economic boom this contry has had thise last decades. (altho the enviromentalists probebly wouldent agree..) The world still runs on fosile hydrocarbons, something like 75-80% of global energi useage. You should check out "state of happyness" if your interested to learn more Tyler :)
Many people think oil is the biggest export, but fish and aquaculture is almost as equally big. I think we should place our bets on aquaculture and fish more and windfarms in the north sea.
The canadian wealth fund was alot bigger. Canada had a massive economic crash and most, if not all, of the weath fund that was assembled was spent on building the country back up and making sure citizens didn't die enmasse. There were talks of curruption leeching funds meant to stay saved, into other projects, but that's mostly unproven rumor, but whats not is how much we save is not even close to how it was before. It's super admirable that Norway was able to hold onto it, and it really does set a good example, that I hope we can follow again. Alberta is our main oil province, and it seems like canada's stance on oil is to phase it out, both for every day use and for export, so I guess we will have to see what happens
The Alberta - Norway similarities are VERY good. This shows 2 democratic population ( amost same number of population ) . But this in my head shows the culture difference. In Norway its VERY important to share and save up money for the hole population. The population is in focus. It shows how we think in the years to come. It's long time planning for the population. Its in our geens because we have lived in this cold place for more than 1000 years. You have to plan to survive the long winters... And there has only been "one" homogeneous population, but in Canada its more mixed poulation from (Northern Europe ) The wealth is not directly comming from OIL, its comming from LONG TIME PLANNING.... Smart planning.
If you wanna learn something we see as typical norwegian, try to find info about safety rules on stuff like oil-platforms....it's pretty crazy even for us :P
Hello Tyler. Thank you for all your nice and good videos on your trip to Norway. As a sequel to your reaction to the world's longest road tunnel. Lærdal tunnel. A much greater achievement (my opinion and probably the vast majority) is the heaviest movable structure ever built. Troll A platform. (offshore) There are many videos about this, but most are like documentaries of 45-60 minutes. Here is a link to one in 12 minutes. Think you'll be a little surprised and possibly imported? Take care. ua-cam.com/video/UmxzSpo15Js/v-deo.html
23:24 No, we don't want to make it last as long as possible. While not a consensus there's a definite majority in our parliament for ending the oil production. The problem is just that we have *very* different ideas about the timelines involved. Some parties wants that end to be soon and consider the change urgent. Some would prefer a much slower ramp down and pictures several decades more of production. We're *not* going to extract all the available resources. That's already clear. But especially some of our biggest parties wants us to still search for more resources, in part because future potential is important for investments... It's complicated...
Too many companies DON'T think of oil as finite. Conventional oil wells typically take 10 years to peak and 20 years before they are no longer profitable. When companies are focused on the next quarter or two, a decade seems like forever. Norway has very high average income, partly because education (including college-level education) is free. No, I'm not exaggerating; you can go all the way to a medical degree or a PhD (assuming you can show the mental / intellectual ability to do so) with NO student loans. All education is paid for with tax revenues; your ability to get an education is not limited by the wealth (or non-wealth) of your family. The government invests in its people; educate the heck out of 'em and be able to collect more taxes ('cuz higher income) from them later. Consequently, Norwegians are among the most literate and educated in the world. High education correlates with high income. High income correlates with a high standard of living and higher prices. Oslo is one of the most expensive countries in the world, in terms of cost of living. Gasoline prices are high there because there are high taxes on it. I found recent prices as high as NOK 23.04 / liter, which works out to USD 8.10 / gallon at current exchange rates. It has, during the height of the pandemic, been over $10 / gallon. Meanwhile, electricity is about as cheap as in the USA (most of the electricity is coming from hydroelectric; NO greenhouse gas emissions) so EVs make a lot of sense. The fact that Norway actively incentivizes buying EVs pushes the uptake even higher. Norway will continue to produce petrofuels because there continues to be demand for it. They will continue to plow the vast majority of their income from that oil into the Sovereign Wealth Fund so that they will be well-positioned when the supply, or the demand, peaks and diminishes. Some analysts argue that global supply has already peaked. Others are talking about how the fact that Russia is being actively embargoed, and Russia is a major global supplier of oil, means that countries are, increasingly, incentivizing reducing petrofuel usage (oil and natural gas) such that they will be less-dependent on Russia. After all, if removing Russia from the global oil supply is causing oil prices to spike (arguably true), reducing demand for oil will shift the supply / demand balance and get prices back down (as well as diminishing the amount of money your country is spending on imports AND financially harming Russia). Norway could go all "drill baby drill" and profit, in the short-term, off Russia's embargoed status. They are not doing so. They are playing the long game. Not very exciting, perhaps, but very wise. Edit: there was a fictional TV series about Norway deciding to stop exporting oil ('cuz climate change) and start exporting Thorium nuclear power tech (which doesn't have the nuclear waste problem that Uranium-based nuclear power has), so Russia invades them to turn the oil back on. The EU isn't ready to make the transition so they back Russia. The dialog is mostly Norwegian but it has subtitles in various other langues. The English title was "Occupied" ("Okkupert" in Norwegian).
Norway is very green. There is enormous opposition to searching for new oil in Norway. But the fact is that we could go Putin and cut off access to our oil and gas and it would not reduce consumption whatsoever, because the demand doesn't disappear just because the supply does. It simply raises the prices of Europeans heating their homes, cooking their food and driving their cars, while the revenue would simply go to countries that doesn't invest in renewable, like Norway does. 2.5% of our fund is invested in offshore wind. Per capita, that is the equivalent of America's spending on the war in Afghanistan and Iraq, but in less than five years rather than twenty. That is not nothing, but it is only the beginning. Because the fact is that you can't solve problems with money. You need people to solve problems and people take time to educate. We are doing what we did in the beginning; learning how to do things properly. Kneejerk revolutions never lead to anything good. Slow and steady wins the race. You need the best people to do these things and you can't take a 60 year old oil engineer and tell him to build a wind farm. It's just not how it works.
High housing prices? That is bull. A house near Oslo cost significantly less than a house near Gothenburg in Sweden. I know because I recently checked out the prices in Oslo because of a job I considered.
Norway can’t stop its oil production over night. And one argument for the continuation of oil drilling is that the world will be in need of oil for decades to come, and others will keep providing it anyways…Norway has some of the greatest technologies and expertise, and therefor Norway can offer, maybe, the most clean and environment friendly oil in the world.
18:10 there is one BIG caveat here, i think. High income alone does not drive prices. It is a more artificial phenomena. In London, it is MUCH more costly to live. Rent there is crazy. NY as well. Both the US and UK are far below Norway in average income. So the argument that oil makes it pricey to buy an apartment lets say. That argument, is.. Questionable.
22:15 "The posterboy for environmentalism" I never like that acolade. We are a HUGE exporter of FOSSIL FUELS. That is literally the largest contradiction. And the worst is, when we ask other countries to use less fuels and coal. When we "only" pump it up and export it.. We dont burn it! *angelemoji*
It's a matter of culture (and probably due to genetics of mind, as different from other ethno-racial-groups), entirely separate from whether they have oil or not.
I'm not sure, But I think Norway said it will not open any more oil fields because of the climate. I guess the European demand for oil and gas because of the Russian war changed that policy and they are probably the biggest oil exporter to Europe now. It would probably be good if they can increase exports even more until Europe has found other solutions to counter Russia turning of energy supply.
My view is that as long as we are willing to continue drilling for, extracting and selling oil to maintain our privileged lifestyle, we are NOT in a position to criticize third world or developing or just plain POOR countries for continuing to heat their homes with coal, or cook on wood or coal stoves, or selling their gas reserves... We are RICH, we have savings, we have "green" electricity, we are one of the few countries who actually have the resources and opportunity to cut back on our lifestyle without causing actual suffering, just "inconveniences" AND to develop new, environmentally friendly solutions to various modern issues. If WE are willing to continue polluting in the name of maintaining our conveniences and luxuries, then we CANNOT criticize poor people in poor contries for choosing to stay alive. The whole "why should WE do stuff, when everyone ELSE is still polluting - we'll do it when THEY do it?" can be turned around to "why should all these other countries with few or no viable options cut back and suffer when we, the rich Karen in the penthouse, refuse to cut back on ANYTHING?".
Not 1,5 % of all the companies in the world. 1.5 % of all the Stocks in the world. The distinction is significant because we've made sure never to buy enough stocks in any one company to own the majority.
For all those who think oil is the be all and end all, THINK AGAIN!! Oil is finite, we will run out, Eventually. Let all those countries have their oil, as much as they want. As for me, give me WATER, yes Water. Give me control of the water system. Make absolutely sure of this Water is King!
norway is wealthier in the sense of every other country than itself, but within norway it isn't as much as you think as prices are higher on most things.
The debate about stopping oil production in Norway is nuanced. Its not only oil, but its also gas, which much of EU and UK are relying on. Especially now with war in Ukraine. But sure, Norway can do much more in regards to transitioning to a green economy.
Mostly from a small minority, from the Green party who believe that Norway should cut oil production, the vast majority of people in Norway are supporters of the Norwegian petroleum industry, especially in the current situation with the war in Ukraine.
Unfortunately, humanity will probably not become unindependent of oil and gas in the near future. Gas is used for cooking, making electricity, making fertilizers and much, much more. The need for oil is probably even more difficult to get rid of. oil is used in cars and it will take at least 20 to 40 years before the world has managed to go 100% electric transport. Oil is also used as a lubricant, surface treatment and in other industries. Even so, the sun is an uncertain source of energy in the northernmost and southernmost regions, but with the rapid development in battery technology there is hope. Wind is more certain in these areas. In fact, Norwegian oil companies have invested a lot in alternative energy production in recent years.
meanwhile more oil than ever is needed, oil is used for most things not only for energy, there is no known possibility to change that fact, the idea of shutting down oil production is an illusion, oil however is not always a bad thing it depends on if you burn it and create air pollution or it's used in machinery, houses, furniture, clothes ect.
It’s because we had a stable government in place before we ever struck oil. Plain a simple. So many countries rich in resources have been exploited by colonizers for said resources, and didn’t get to develop a good stable government structure independent from their resources. Basically if you have a place with riches it’s going to be hard to convince people to share that wealth. But if you have a poor country of basically just farmers and fishermen then you are probably going be able to share. Well Norway was the latter. It was a country of farmers and fishermen built on the idea of cooperation. Then later we discovered oil.
Like everyone else, we knew that oil is not a renewable energy source. We will run out of it someday, so many of our politicians wanted to ensure financial security for the welfare state in the future, instead of spending all of the money as soon as it came in. The Norwegian people thought it was a good idea, and voted overwhelmingly for those parties. And corruption in politics is very harshly punished here. Our politicians wanted that, too. Several of our politicians have ended their careers in recent years because of a scandal that would be nothing more than low level, legalized corruption in the US and many other countries. Why would our politicians want to hold themselves to such a high standard? Well, it's hard enough to govern a democratic country as it is, and it becomes almost impossible if the people don't feel like they can trust the people governing. We have to deal with half truths and bickering over policies and stuff like every other country, but we don't have to worry about corruption. And the half truths are usually flushed out, because of the transparency we have here. Nothing happens in darkness here. (Except of course for classified national security issues, for obvious reasons.) Does that mean that we don't have our frustrations and things we want to change? Of course not. Norway has its worts and scabs like any place on earth that's inhabited by humans. But seen in perspective of what so many other countries have to deal with, I consider our stuff to be peanuts in comparison. (I'm poor by Norwegian standards, by the way, so I'm not out of touch.)
It's not the adult decition to suddenly cut oil over night. It's not responsable. It has to be replaced and that takes time. It's a bit difficult though when Germany starts screaming for oil as Russia attacks Ukraine.
I’m into oil and gas business, perhaps we can make a deal and share big commissions. Currently I have buyers for petroleum products and bulk BTC. does anyone know any seller that can supply ?
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"Everyone" wants "everyone" to stop extracting oil. I agree with this, but, in the meantime, if Norway took over all the oil extraction in the world, and did it how WE do it, which is very, very, very, very, very, very, very clean, then it's a lesser evil than what people make it out to be. If Norway stops then other countries will start, and they will not do the job as clean as Norway does, hence, it's best if Norway does it all, we do it the cleanest and best way. Go Norway. PS: Norway and Norwegians understand we have to get away from oil, we know and we agree, but it can't be a cold-turkey kind of stop, it has to be smart.
Norway is definitively corrupted by oil. An oil tax cut bill was passed by the last government (right political party) solely due to intense pressure from oil lobbyists that claimed they needed it to prevent high unemployment wave and continue looking for new wells... The previous right prime minister who passed the bill now says the bill was totally unnecessary. The oil has made political party's very greedy, a lot of prominent politicians are heavily invested in oil. And not to mention, oil is a very polarizing subject as global warming is rising. Even though climate was the most important political topic last election just after the release of the IEA report, the country's green party lost the election. This is due to the oil company's continueous attempts to control the narrative of the climate fight and shadow any critical information about fossile fuels in relation to global warming that comes from science (both EU and US). This has lead to Norwegian citizens to be the most sceptical of climate change. So the Norwegian oil company has a complete grasp of the Norwegian public opinion on this.
Without explaining it in more detail.. Tyler is right. Some realities of the world, ppl just have to deal with existing. Instead of complaining about what should be done, help to change it.. Being angry or gluin yourself to a painting, it doesn't change a thing.. I'm sorry. The only thing that gonna change politics, is politics. The only way to stop oil etc, is to make the greener and renewable alternatives better and more lucrative than oil and gas. And i know; Norway doesn't do enough, yet.. compared to others, we to more than most.
Well, look at this year, europe decided and planned for low energy. What happened? War. Sky high prices. Lack of industry parts/ general metals/wood/food and electric parts. Sky high energy prices. Coal mines are getting started up, u can run a entire gasfield in norway for 1 month and let out less co2 than such coal mines do in 1 Day... We have highly developed fields with decades of extreame focus on producing as green as possible, spending extreame and absurd ammounts of moneys to make them as effective and envoirement safe and human safe as possible. Back in the days when other countries just flared away the low priced gas, Norway did not. Now this clearly was a huge economical decision, but also a huge impact on the envoirement. If we quitted to export Oil and gas some other country will just take that part of the market, and will produce it with higher envoirment impacts. Instead we invest in green energy, test and design products for it, to help it on its feets. World economic does not come for free, peace does not come for free, the impact of a bad world economy is far more scary in general as well as devasting to the envoirement as well. Its the end result of everything that matters, not a tiny part in the start or the middle of it. The co2 and methan ammounts going to the atmosphear is very low compared to the plastic getting dumped into the sea due to low economy to actual handle waste properly. People think that oxygen purely is made from plants and tree's, meanwhile the fact is that most of the oxygen is produced in the sea... Co2 also helps plants grow, ofc this could be handeled better many places. Close to where I live there is a Milk factory, its co2 exhaust goes into the nearby big garden house, which helps the plants grow and is getting consumed by the plants. The extra heating from systems such as heating water is used to warm up that garden house etc. Every1 could be better to combine and cooperate in such manners. And the car industry should have started 50 years ago to improve its effeciency. There are plenty of technology that improves the effectiveness of cars by extreame ammounts, which basicly could let you run a car on very low fuel usage, on a very small engine, with very little exhaust left to vent out. Many of them are also healthy for the engine itself. But it cost more to build and some of them are patented, but they are simple enough for People to make back home in their garasjes... forexample water injeksjon, zing tracks and such. The car industry got some envoirement rules like 10 years ago, and bam suddenly small 1,3 liter engines suddenly was highly effective and spendt way less fuel and let out way less toxic gases etc in just 1 or 2 years... and this is basicly just scraping the surface of technology known for like 50+ years... Infact all you have to do is use all the technology from equipment made for explosive areas and revert it for the engines..
Remember, here in Norway we exprienced an ice age 11 000 years ago, and a new ice age is waiting, so, we need to keep climate change alive. If a new ice age sets in we are doomed for another100 000 years.. So I say change the climate now, while we can.. :)
The average worker with a trade make way more money in USA, have less taxes and a lower cost of living. Norway isn't the utopia we pretend to be. A carpenter, plumber, truck driver etc. make a lot more in USA, and if you have a university education in Norway we make less than a plumber, carpenter or truck driver in USA. We have more millonaires in Norway because high qualified workers are extremely cheap, while Tariff 1 workers ( minimum wage) is extremely high. Basically the trade unions together with the labour party has had a policy to keep high qualified workers sallaries low. Resulting in a continuesly brain drain from Norway.
It is really sad how our neighbour Russia is stewarded. They have the worlds biggest area, they have lot of oil and all nature resources. Instead of working on enough food and education and projects for the future, the leaders send their people to trenchvwar, again. Who would imagine that 108 later the biggest war in decades went back to that nightmare, the only difference being drones do the dogfight instead of biplanes.
we cannot use our oil money on military we got a new ship and shank it like the same month, so we just proved our own point (this i a joke, dont take this to close, but we did sink that ship ourself)
I don't know with Christmas almost here if you plan to react to a video about it, but I really recommend this one: ua-cam.com/video/82R4Do-xJIw/v-deo.html
Imagine a character like Donald Trump being head of government back then. He would probably have sold the whole oil and gas business to his friends in the big oil companies for a "fee" to him personally, an Elon Musk type of industrialist.
No. Unlike many oil countries, petrol in Norway is very expensive. The oil fund actively invests in green energy alternatives and Norway, as a country, has more electric cars, per capita, than many, many others. Maybe the most? But I'd have to look it up.
The resistance to wind farms has more to do with our attitude to preserving nature and less to do with power. Also we use water for power in Norway, not oil or gas.
It's also a Not in my Backyard (NimB) kind of attitude, which is annoying. Also berry picking spots being made inaccessible. Although, with the powerlines connecting us to the rest of europe incresing our capacity would be a good idea.
@@Jo-Heike Wind blades kill birds and look like shit, but most powergenerating fascilities are bad for our natural environment. I don't see any solution myself.
@@Jo-Heike When it comes to not in our backyard and cherry picking. Providing power for the rest of Europe cannot be the responsibility of one nation, and frankly the rest of Europe would do the same, there's no reason for us to always be the best in the class. Saving the planet or providing power for Germany is too big for us to fox on our own. So it will always be not in our backyard or cherry picking. Whatever you choose to call it.
@@TullaRask "Merriman concludes that 1.17 million birds are killed by wind turbines in the US each year.
This is a lot of birds, but it is only 0.016% of the estimated 7.2 billion birds that live in the US. It is also significantly less than the 5-6.8 million killed each year by communication towers, the 60-80 million killed by automobiles, the 67-90 million killed by pesticides, or the 365 million to one billion killed by cats each year in the US, according to a study published in Nature."
A quote from the energy monitor (a website).
I don't think bird mortality can be considered a major reason not to develop our wind energy generation capacity, particularly when you consider we can create offshore wind farms, or look for methods to minimize bird deaths (like painting a turbine black, which is suppose to help). Another factor is that the current rate of global warming is causing a mass extinction nature, which is a lot worse for the birds that a few windmills.
Your argument about "wind blades looking like shit" is a not in my backyard argument. Also, really, as long as you can't hear the wind mils does seeing them on the horizon really ruin your day? I personally like their appearance and wouldn't mind if I lived within site of a wind farm.
@@TullaRask We live in a capitalist society, selling electricity to the rest of Europe benefits us directly, and also means they might not have to keep so many coal plants open. Sure, it shouldn't be solely our responsibility, but that doesn't mean we can't do our part.
Also, saying that we are the best in class isn't entirely correct, we are an oil producing nation, and have contributed a lot more than most other countries to global emissions, particularly compared to our small population. We should and can do more to offset that besides stepping down our production of fossil fuels.
14:49
You're missing the main point there.
The limit isn't just there to save the oil for later, but more importantly, to save the *rest* of the economy, so we have something to fall back on after the oil is gone.
The oil and gas fortune is placed in the Government Pension Fund Abroad to finance pensions for the future generations. As per day it's almost 20 000 billion kroner. A lot of money, belonging to the Norwegian people, not to a few big international oil companies and moguls.
21:32
No, we're not talking about internal use of oil.
Our domestic consumption is tiny, especially compared to our exports.
Oil is going to be very important for all of the world for decades still, that's just the reality. There are of course some people here in Norway that would rather just stop everything today, but it would not only be devastating for our economy, it would make oil prices everywhere in the world also skyrocket and ruin economies everywhere. Transitioning to a green renewable future takes time, and it has to be done right. I just wish that countries like Qatar, UAE and Saudi Arabia would also work more towards a green future, rather than build insane construction projects in the desert.
Or spend billions on bribes and construction to host sports shit that doesn't belong there.
Så søtt med skjeggete menn i hvite kjoler da om ikke annet.
I was on the "stop it all, right now" train, until I thought about it for a longer period of time.
I ended up understanding that since we do it the cleanest, it's best if we just took over everything.
If Norway took over all oil extraction in the world, upgraded the platforms to Norwegian standard, we wouldn't be in such an issue.
@@nor-wayking6757 Menn i kjoler holder man seg unna, de er psykopater.
@@OriginalPuro let's be real. There is no issue. We'll be dead before ot all goes dry anyways.
Norwegians are not a greedy people and have a strong and ancient culture and sense of identity. They are not interested in flaunting their wealth. In Bergen a few years ago I asked why all the houses looked much the same. I was told that living in a big fancy house was regarded as bad taste. They also are the biggest shipowners in the World.
If you want to see a drama series set in the time when Norway hit oil, NRK produced a beautiful show called Lykkeland. No idea how you would stream it, but the first series is exactly this.
yepp , its called "State of happyness" in english 👍
The video was right about how oil has had negative consequences and not just good ones. The housing market is crazy. The average Norwegian income is high... however it is distorted by the super-rich being counted in when calculating that average. So yeah, Norwegians are richer than people in other nations, but the housing market and the other prices are way too high. That average income number is very rose-tinted, and for those who are below average, the high prices of stuff in Norway are problematic and painful to experience. The average person might manage but it is still expensive for them too.
Yep.
First off, I get your point. Don't get me wrong when I say this, because I know of the struggles one can have in Norway. As someone in the bottom bracket when it comes to income, being unable to work for health reasons, life isn't too bad. Living in a medium sized city I rent a nice flat, eat well, travel occationally, participate in activities with friends, and so on. I really appreciate how this wellfare system works, as I would live on the streets for sure if american. It would be nice to have more money, as it would mean less worries, but still pretty good. I save on not owning a car, being reasonable when it comes to clothing etc., buying loads of food at a time, and you get the picture. For me, and a lot of people who are retired or disabled, it kinda works out well enough.
The biggest problem for those in my situation is that many have LOTS of high interest loans from the period right after they don't work, since you would still need to pay mortage/rent, car, and general lifestyle things, while the income is cut by 40%. It takes time to change out your entire life in that way. With, let's say, 2 kids on top of that, you want to wait to the end of the school year before you move, maybe they have some expensive hobbys, and what not. It's very easy to end up with huge downpayments every month on a much smaller income. I feel for those who end up there.
I have heard the rate of home ownership is unusually high though.
@@Jo-Heike Apparently it is. I think it might be due to reasonable loans, that is how my aunt recently got a place, but I am still shocked about the ownership number.
@@oceanmythjormundgandr3891 It's a point of pride for many people, and the government. Although, as Bass said, renting is also reasonable. Like both rent, and buying homes is cheaper in Norway than in America on average, if you look at the cost of living (at least one of those is higher in America, but that's because their market is insane).
'Dutch disease' goes wayyy back. Like to what Shell has done. Shell is a secondary dutch company and is responsible for much of the taking of oil off the coast in Africa. My ex worked for a tech company that supported the oil companies and he saw all this first hand all around the world. What I was told was that Norway hired a philosopher when they struck oil, not an economist. Hence the difference.
Yep and geologist Farouk al-Kasim who was instrumental in setting up the found and how to invest it
Why would a geologist be responsible for how they spend there money
@@steveboy7302 cause he is a petroleum geologist lmao? the dude probably knew and studied the outcome oil have had on countries ^^ not just how to find and extract oil would be my guess ^^
Jens Evensen was the person responsible for the development of "Oljefondet" and if it had been set up at the time he wanted it, the amount in it would be about double of what it is now.
"Statoil" had a philosopher on the payroll, but he was not a major part of policy decisions.
What we learned from handling the early hydro power development is really the main reason for a different approach to oil development. Living in Stavanger with many of my family in the industry from the very start, I can guaranty you that we where not free from "Wild West" situations.
@@steveboy7302 He had experienced corruption first hand from other countries.
I am so proud and grateful for the generation that made the rules around oil.
They are the reason we can live as well as we do now. They handled it so well! We owe them so much.
Fun fact we Norwegians didn’t not find oil until 1962 and after that all did go in a good direction
Nice video. Not sure I agree about the last critisism though. Norway do many green inititives all around the world, pr capita more than most countries. Some say we should stop producing oil and gas, but the world need it more than ever before, also to fuel the green change. Norway will also build huge offshore windfarms the coming decade, and is leading in floating windturbine technology. We are also building giga battery factories and have large companies within solarcell technology.
One thing that also isn't mentioned much is that Norway is one of the leading countries in renewable energy research and technology.
Equinor is also one of few major oil companies to have set a zero-emission deadline, this has been set to 2050. The offshore windfarms that you mention will begin the firt phase in the first quarter of next year.
Never forget what oil is used for! It's not only fuel.
From toys,to electronics and clothes.
Even emportant things like medical equipment.
We need to slow some things down here...
at the beginning, i think you missed the premise. the prompt for "Why oil doesn't corrupt Norway" isn't that Norway is in danger of being corrupted, but rather a comparison to countries like the US & Russia which *have* been corrupted by oil already (think Russo-Ukraine war, annexation of Crimea, gulf war, Iraq war, etc.)
Check out Røros, cute little mining town! World heritage, 2 main streets with historical houses and the mining museum! It's a small mountain town located inland, deep within the Norwegian mountains. As such, it's one of the coldest places in Norway
What about Tynset?
And Rørosmartn with the horse sleighs! That would be something really odd to an American I bet.
20:43
Honestly part of the reason for that increase is geopolitics.
Europe *needs* a alternative to Russia as a source of energy, and the EU has been pushing for increased extraction in Norway, especially of natural gas.
That said, we can't entirely blame Europe, we also have political parties that's concerned about job loses if the industry dies too fast...
wery true, and bouth important points to consider. For sure norwegian gas in preticular has never been more needed.
@@hwplugburz Yeah, but the increase is still harmful.
Some of the areas they wants to use is important for maritime life, and other areas is dangerous with a high risk of spilling oil.
I'm a green voter myself.
*If* we could get assurances that we'll genuinely get a end to the oil production and gas production soon, something like a ban I'd actually be okay with a temporary increase in production.
But it's hard to trust the larger gray parties in this matter.
Very "photogenic" or what you may call it. You have that gift. You engage the viewer.
Your best reaction yet, Tyler. Sometimes you are very clever.
He's a dope named Tyler.
we in Norway think a lot about nature we spend a lot of time cleaning rubbish and we also have a lot of electric cars we do a lot for the environment we are proud of the nature we have here but countries can't just see us as a problem with oil.
We also have one of the higest cost of patrol and cost of a car is so high and its less expensive to get a electric car. Altogether, 16 percent of all private cars in Norway are now electric cars and in 2021 65% of all cars sold had only an electric engine. Gas prises per liter is about 24kr. So to fill 60 liter are going to coast about 1440kr
There is no "WE" in Norway.
Grow up suckers. Or go home. Sirand...Pakistani. Own your ancestors. Not ours.
There has been at least 2-3 terribly huge accidents in the norwegian oil industry history. Sadly. Dangerous job.
When it comes to our attitude to oil, it has something in common with our attitude to water. We have a lot of it and use it to power most of our country. I don't remember when, but our government didn't want outside and private forces to run all our water supply, so the government expropriated it all. It's been run by local and national government ever since. Now there is some parties who would like to sell it out, but some local monicipalities earn a lot from those recources and pay services for their local people with the money they earn. I think maybe when oil came a long and it had to be handled, they used the experience with water to build up the oil sector. In Norway we have the attitude private companies serve the people, not the other way around. So when the government comes and says we want to do this ourself and you have to do as we say, naturally the outside companies run to the negotiating table instantly, because they have no other option. If they don't cooperate a nation can always use their own people to do the job for them. If Norwegians can see this will work, we will help them out, and if it doesn't work we know they will turn around eventually.
The housing issue isn't as much that we make too much money. The problem is that housing is so expencive now, that young adults cannot afford to buy a place to live. Perhaps never. So they are stuck with renting. At this point, you really have to be a couple to be able to afford a small flat. :-/
we see how other countries can create chaos with prices and power distribution, thus oil is much needed until we can replace it properly! but most countries are not doing such things meaning it's not gonna end soon. but we can do smart solutions like lessen the power usage of items and also have more solar/wind/water power, perhaps better batteries that hold the power longer and much more of it as well as less disposable tech/items which pollutes and also uses far more power in production.
If you think about it.. you use Oil on bikes , on doors. To get the washing maskin to run. Many things we nerd oils for. Even cars with batteries. .
Energy in Norway is a HIGHLY discussed topic, all the time. Wind energy may be greener than oil, but it's not as green as you think. (Microplastics, the windmill blades are just dug down once replaced and not reused somehow, kills thousands of birds each year, not to speak of the invasive nature of just building one windmill farm on land. As well as the sound they make and the impact it has on those living close to them. With our cold climate you also have to be aware of ice flying off the blades) Water energy is also debated, closing down streams for poweplants have impact on the surrounding nature as well. Wave power is an option as is fresh to saltwater energy. But we need to invest a lot into it to figure out the best way to do it as to not ruin the very nature we wish to preserve. (Not to touch on the selling of these power plants to foreign owners, and how the export of power makes our power prices skyrocket due to the EØS agreement etc) Oil is very important to our economy, no doubt about it. And we should use a fair share of that wealth in renewable resources and their improvement.
No better explanation of the "curse of oil" than CPG Grey's video "The Rules For Rulers" at about the twelve minute mark. The whole video is mind blowing, but that part directly explains it.
17.00 Most of the oil fund is placed in the wall street/central banking system. And I have read that the deposits will not be paid back to Norway, but only the return annually. 3%?
In Iraq, the USA now takes about 93-95% of the oil/profit. Something like that.
The Norwegian state has become rich mostly from high taxes and duties. Norway has the highest price per liter of gas and is heavily taxed too, especially cars are heavily taxe
The thing is, stopping oil and gas production would just disrupt the global economy, as you can see from the situation with Russia now. I mean, trying to cut demand by cutting down on the supply is no different than throwing someone into the water in an attempt to teach them how to swim. So instead of making an abrupt end to production, which would then have to be compensated for by dirtier producers, Norway is instead trying to encourage other nations to wean themselves off oil and gas (like promoting the transition to blue hydrogen to replace natural gas for example), and tries to lead by example in that regard by being an early adopter of electric cars etc. Some consider it hypocrite, but it's actually the more responsible approach.
ref: 8:42
If you have a look at the map the UK part has islands much further out then Norway. So you can just as well say that they got the better part of the deal. As luck have it the resources on the Norwegian part is larger, but several fields was divided because of the position of Shetland and Orkney islands.
The Shetlands and Orkney still speak an old viking language I understand. ;)
@@TheAccidentalViking There are remnants of Norn, but it is closer Scottish dialects. Icelandic is the closest to Norn today.
@@bknesheim I understand large chunks of what they say, as a current Norwegian speaker.
The Orkney and Shetland Islands were the dowry for the marriage of a Norwegian princess to the heir to the Scottish throne which never took place because she died beforehand. Scotland took them anyway. Legally the Norwegians could have claimed them back but never did. This could become very interesting in the event of Scottish Independence from the UK.
@@grahambaldwin9801 Hey, I know that story. It's one of the bits of history they tell you when you study Norwegian, with a bit of history and culture. Norway isn't going to get into a pissing contest with Scotland to take back those islands. I think the average Norwegian feels close with their Scot neighbours. Loads of cooperation in the North Sea, taking that oil out. My ex was in Aberdeen all the time, working with his Scottish counterparts in the oil industry.
Theres a pritty good TV-drama series called "State of happiness" that tell the story of the early days of Norways oil-history.
There was a lot of Americans working for phillips petrolium involved, (some American acters in the series as well), that opened upp this fantastic adventure for Norway, and as a nation we actualy have a lot to thank them for. Not least the economic boom this contry has had thise last decades. (altho the enviromentalists probebly wouldent agree..)
The world still runs on fosile hydrocarbons, something like 75-80% of global energi useage.
You should check out "state of happyness" if your interested to learn more Tyler :)
0:02 I always think of Futurama with your intro... Gooood news everyone!
Many people think oil is the biggest export, but fish and aquaculture is almost as equally big. I think we should place our bets on aquaculture and fish more and windfarms in the north sea.
Also one thing i think you would find interesting is our political system! Look it up if you're interested!
I work on one of the plattforms you showed as a picture in ur video! How cool. Omg! 😂😂😂
The canadian wealth fund was alot bigger. Canada had a massive economic crash and most, if not all, of the weath fund that was assembled was spent on building the country back up and making sure citizens didn't die enmasse. There were talks of curruption leeching funds meant to stay saved, into other projects, but that's mostly unproven rumor, but whats not is how much we save is not even close to how it was before. It's super admirable that Norway was able to hold onto it, and it really does set a good example, that I hope we can follow again. Alberta is our main oil province, and it seems like canada's stance on oil is to phase it out, both for every day use and for export, so I guess we will have to see what happens
The Alberta - Norway similarities are VERY good. This shows 2 democratic population ( amost same number of population ) . But this in my head shows the culture difference. In Norway its VERY important to share and save up money for the hole population. The population is in focus. It shows how we think in the years to come. It's long time planning for the population. Its in our geens because we have lived in this cold place for more than 1000 years. You have to plan to survive the long winters... And there has only been "one" homogeneous population, but in Canada its more mixed poulation from (Northern Europe ) The wealth is not directly comming from OIL, its comming from LONG TIME PLANNING.... Smart planning.
If you wanna learn something we see as typical norwegian, try to find info about safety rules on stuff like oil-platforms....it's pretty crazy even for us :P
Thanks for your videos its cool to hear about ourselves in an outside perspective 😊
Hello Tyler.
Thank you for all your nice and good videos on your trip to Norway. As a sequel to your reaction to the world's longest road tunnel. Lærdal tunnel. A much greater achievement (my opinion and probably the vast majority) is the heaviest movable structure ever built. Troll A platform. (offshore) There are many videos about this, but most are like documentaries of 45-60 minutes. Here is a link to one in 12 minutes. Think you'll be a little surprised and possibly imported? Take care.
ua-cam.com/video/UmxzSpo15Js/v-deo.html
👷♂👷♀🤗
23:24
No, we don't want to make it last as long as possible.
While not a consensus there's a definite majority in our parliament for ending the oil production.
The problem is just that we have *very* different ideas about the timelines involved.
Some parties wants that end to be soon and consider the change urgent.
Some would prefer a much slower ramp down and pictures several decades more of production.
We're *not* going to extract all the available resources.
That's already clear.
But especially some of our biggest parties wants us to still search for more resources, in part because future potential is important for investments...
It's complicated...
Too many companies DON'T think of oil as finite. Conventional oil wells typically take 10 years to peak and 20 years before they are no longer profitable. When companies are focused on the next quarter or two, a decade seems like forever.
Norway has very high average income, partly because education (including college-level education) is free. No, I'm not exaggerating; you can go all the way to a medical degree or a PhD (assuming you can show the mental / intellectual ability to do so) with NO student loans. All education is paid for with tax revenues; your ability to get an education is not limited by the wealth (or non-wealth) of your family. The government invests in its people; educate the heck out of 'em and be able to collect more taxes ('cuz higher income) from them later. Consequently, Norwegians are among the most literate and educated in the world. High education correlates with high income. High income correlates with a high standard of living and higher prices. Oslo is one of the most expensive countries in the world, in terms of cost of living.
Gasoline prices are high there because there are high taxes on it. I found recent prices as high as NOK 23.04 / liter, which works out to USD 8.10 / gallon at current exchange rates. It has, during the height of the pandemic, been over $10 / gallon. Meanwhile, electricity is about as cheap as in the USA (most of the electricity is coming from hydroelectric; NO greenhouse gas emissions) so EVs make a lot of sense. The fact that Norway actively incentivizes buying EVs pushes the uptake even higher.
Norway will continue to produce petrofuels because there continues to be demand for it. They will continue to plow the vast majority of their income from that oil into the Sovereign Wealth Fund so that they will be well-positioned when the supply, or the demand, peaks and diminishes.
Some analysts argue that global supply has already peaked. Others are talking about how the fact that Russia is being actively embargoed, and Russia is a major global supplier of oil, means that countries are, increasingly, incentivizing reducing petrofuel usage (oil and natural gas) such that they will be less-dependent on Russia. After all, if removing Russia from the global oil supply is causing oil prices to spike (arguably true), reducing demand for oil will shift the supply / demand balance and get prices back down (as well as diminishing the amount of money your country is spending on imports AND financially harming Russia).
Norway could go all "drill baby drill" and profit, in the short-term, off Russia's embargoed status. They are not doing so. They are playing the long game. Not very exciting, perhaps, but very wise.
Edit: there was a fictional TV series about Norway deciding to stop exporting oil ('cuz climate change) and start exporting Thorium nuclear power tech (which doesn't have the nuclear waste problem that Uranium-based nuclear power has), so Russia invades them to turn the oil back on. The EU isn't ready to make the transition so they back Russia. The dialog is mostly Norwegian but it has subtitles in various other langues. The English title was "Occupied" ("Okkupert" in Norwegian).
Norway is very green. There is enormous opposition to searching for new oil in Norway. But the fact is that we could go Putin and cut off access to our oil and gas and it would not reduce consumption whatsoever, because the demand doesn't disappear just because the supply does. It simply raises the prices of Europeans heating their homes, cooking their food and driving their cars, while the revenue would simply go to countries that doesn't invest in renewable, like Norway does. 2.5% of our fund is invested in offshore wind. Per capita, that is the equivalent of America's spending on the war in Afghanistan and Iraq, but in less than five years rather than twenty. That is not nothing, but it is only the beginning. Because the fact is that you can't solve problems with money. You need people to solve problems and people take time to educate. We are doing what we did in the beginning; learning how to do things properly. Kneejerk revolutions never lead to anything good. Slow and steady wins the race. You need the best people to do these things and you can't take a 60 year old oil engineer and tell him to build a wind farm. It's just not how it works.
You have struck gold here, attending to the needs of the Norwegian ego :D
High housing prices? That is bull. A house near Oslo cost significantly less than a house near Gothenburg in Sweden. I know because I recently checked out the prices in Oslo because of a job I considered.
6:43 that is from Geiranger if anyone wanna know
Norway can’t stop its oil production over night. And one argument for the continuation of oil drilling is that the world will be in need of oil for decades to come, and others will keep providing it anyways…Norway has some of the greatest technologies and expertise, and therefor Norway can offer, maybe, the most clean and environment friendly oil in the world.
"You don't kill the goose laying the golden eggs"
18:10
there is one BIG caveat here, i think. High income alone does not drive prices. It is a more artificial phenomena.
In London, it is MUCH more costly to live. Rent there is crazy. NY as well.
Both the US and UK are far below Norway in average income.
So the argument that oil makes it pricey to buy an apartment lets say. That argument, is.. Questionable.
22:15 "The posterboy for environmentalism"
I never like that acolade. We are a HUGE exporter of FOSSIL FUELS. That is literally the largest contradiction.
And the worst is, when we ask other countries to use less fuels and coal. When we "only" pump it up and export it.. We dont burn it! *angelemoji*
Exactly. Even in New Zealand and they don't have much in the way of oil reserves.
react to matthewnorway, on how norway opens its mountain roads
It's a matter of culture (and probably due to genetics of mind, as different from other ethno-racial-groups), entirely separate from whether they have oil or not.
I'm not sure, But I think Norway said it will not open any more oil fields because of the climate. I guess the European demand for oil and gas because of the Russian war changed that policy and they are probably the biggest oil exporter to Europe now. It would probably be good if they can increase exports even more until Europe has found other solutions to counter Russia turning of energy supply.
Tyler can you travel to Norway? I will like to now US more.
Odd Arild
hi a good norwegian serie about oil is called State of Happiness or lykkeland in norwegian i recomend too watch it.
My view is that as long as we are willing to continue drilling for, extracting and selling oil to maintain our privileged lifestyle, we are NOT in a position to criticize third world or developing or just plain POOR countries for continuing to heat their homes with coal, or cook on wood or coal stoves, or selling their gas reserves...
We are RICH, we have savings, we have "green" electricity, we are one of the few countries who actually have the resources and opportunity to cut back on our lifestyle without causing actual suffering, just "inconveniences" AND to develop new, environmentally friendly solutions to various modern issues.
If WE are willing to continue polluting in the name of maintaining our conveniences and luxuries, then we CANNOT criticize poor people in poor contries for choosing to stay alive.
The whole "why should WE do stuff, when everyone ELSE is still polluting - we'll do it when THEY do it?" can be turned around to "why should all these other countries with few or no viable options cut back and suffer when we, the rich Karen in the penthouse, refuse to cut back on ANYTHING?".
Not 1,5 % of all the companies in the world. 1.5 % of all the Stocks in the world.
The distinction is significant because we've made sure never to buy enough stocks in any one company to own the majority.
For all those who think oil is the be all and end all, THINK AGAIN!! Oil is finite, we will run out, Eventually. Let all those countries have their oil, as much as they want. As for me, give me WATER, yes Water. Give me control of the water system. Make absolutely sure of this Water is King!
You should consider watching: iconic norway by natural light earth
I've spent many summers there.. Many.
norway is wealthier in the sense of every other country than itself, but within norway it isn't as much as you think as prices are higher on most things.
Do you live here?
@@TheAccidentalViking yes
The debate about stopping oil production in Norway is nuanced. Its not only oil, but its also gas, which much of EU and UK are relying on. Especially now with war in Ukraine. But sure, Norway can do much more in regards to transitioning to a green economy.
Mostly from a small minority, from the Green party who believe that Norway should cut oil production, the vast majority of people in Norway are supporters of the Norwegian petroleum industry, especially in the current situation with the war in Ukraine.
Unfortunately, humanity will probably not become unindependent of oil and gas in the near future. Gas is used for cooking, making electricity, making fertilizers and much, much more. The need for oil is probably even more difficult to get rid of. oil is used in cars and it will take at least 20 to 40 years before the world has managed to go 100% electric transport. Oil is also used as a lubricant, surface treatment and in other industries.
Even so, the sun is an uncertain source of energy in the northernmost and southernmost regions, but with the rapid development in battery technology there is hope. Wind is more certain in these areas. In fact, Norwegian oil companies have invested a lot in alternative energy production in recent years.
meanwhile more oil than ever is needed, oil is used for most things not only for energy, there is no known possibility to change that fact, the idea of shutting down oil production is an illusion, oil however is not always a bad thing it depends on if you burn it and create air pollution or it's used in machinery, houses, furniture, clothes ect.
It does not share in the oil fund like Gadaffi did.
It’s because we had a stable government in place before we ever struck oil. Plain a simple. So many countries rich in resources have been exploited by colonizers for said resources, and didn’t get to develop a good stable government structure independent from their resources.
Basically if you have a place with riches it’s going to be hard to convince people to share that wealth. But if you have a poor country of basically just farmers and fishermen then you are probably going be able to share. Well Norway was the latter. It was a country of farmers and fishermen built on the idea of cooperation. Then later we discovered oil.
we also keeping the light's on in europe. Oli and gas.
We did also find alot of oil though
Like everyone else, we knew that oil is not a renewable energy source. We will run out of it someday, so many of our politicians wanted to ensure financial security for the welfare state in the future, instead of spending all of the money as soon as it came in. The Norwegian people thought it was a good idea, and voted overwhelmingly for those parties.
And corruption in politics is very harshly punished here. Our politicians wanted that, too. Several of our politicians have ended their careers in recent years because of a scandal that would be nothing more than low level, legalized corruption in the US and many other countries. Why would our politicians want to hold themselves to such a high standard? Well, it's hard enough to govern a democratic country as it is, and it becomes almost impossible if the people don't feel like they can trust the people governing. We have to deal with half truths and bickering over policies and stuff like every other country, but we don't have to worry about corruption. And the half truths are usually flushed out, because of the transparency we have here. Nothing happens in darkness here. (Except of course for classified national security issues, for obvious reasons.)
Does that mean that we don't have our frustrations and things we want to change? Of course not. Norway has its worts and scabs like any place on earth that's inhabited by humans. But seen in perspective of what so many other countries have to deal with, I consider our stuff to be peanuts in comparison. (I'm poor by Norwegian standards, by the way, so I'm not out of touch.)
God damn that eyebrow man :o
It's not the adult decition to suddenly cut oil over night. It's not responsable. It has to be replaced and that takes time. It's a bit difficult though when Germany starts screaming for oil as Russia attacks Ukraine.
I’m into oil and gas business, perhaps we can make a deal and share big commissions. Currently I have buyers for petroleum products and bulk BTC. does anyone know any seller that can supply ?
my supplier owns oil and gas company in Dubai and he can supply any quantity your buyer may require. what products do you need?
Seller is a friend of mine from China. He is from the gaming industry who does this crypto trading with poker players all across the globe. we can do business and share good commission, i am very much interested.
"Everyone" wants "everyone" to stop extracting oil.
I agree with this, but, in the meantime, if Norway took over all the oil extraction in the world, and did it how WE do it, which is very, very, very, very, very, very, very clean, then it's a lesser evil than what people make it out to be.
If Norway stops then other countries will start, and they will not do the job as clean as Norway does, hence, it's best if Norway does it all, we do it the cleanest and best way.
Go Norway.
PS: Norway and Norwegians understand we have to get away from oil, we know and we agree, but it can't be a cold-turkey kind of stop, it has to be smart.
Norway is definitively corrupted by oil. An oil tax cut bill was passed by the last government (right political party) solely due to intense pressure from oil lobbyists that claimed they needed it to prevent high unemployment wave and continue looking for new wells... The previous right prime minister who passed the bill now says the bill was totally unnecessary.
The oil has made political party's very greedy, a lot of prominent politicians are heavily invested in oil.
And not to mention, oil is a very polarizing subject as global warming is rising.
Even though climate was the most important political topic last election just after the release of the IEA report, the country's green party lost the election.
This is due to the oil company's continueous attempts to control the narrative of the climate fight and shadow any critical information about fossile fuels in relation to global warming that comes from science (both EU and US). This has lead to Norwegian citizens to be the most sceptical of climate change.
So the Norwegian oil company has a complete grasp of the Norwegian public opinion on this.
You should watch Ritch&equal this is norway.
We dont melt ice, we dont have that kind of power...
Without explaining it in more detail.. Tyler is right. Some realities of the world, ppl just have to deal with existing. Instead of complaining about what should be done, help to change it.. Being angry or gluin yourself to a painting, it doesn't change a thing.. I'm sorry. The only thing that gonna change politics, is politics. The only way to stop oil etc, is to make the greener and renewable alternatives better and more lucrative than oil and gas.
And i know; Norway doesn't do enough, yet.. compared to others, we to more than most.
We produce a small amount of oil...
Well, look at this year, europe decided and planned for low energy.
What happened?
War.
Sky high prices.
Lack of industry parts/ general metals/wood/food and electric parts.
Sky high energy prices.
Coal mines are getting started up, u can run a entire gasfield in norway for 1 month and let out less co2 than such coal mines do in 1 Day...
We have highly developed fields with decades of extreame focus on producing as green as possible, spending extreame and absurd ammounts of moneys to make them as effective and envoirement safe and human safe as possible.
Back in the days when other countries just flared away the low priced gas, Norway did not. Now this clearly was a huge economical decision, but also a huge impact on the envoirement.
If we quitted to export Oil and gas some other country will just take that part of the market, and will produce it with higher envoirment impacts.
Instead we invest in green energy, test and design products for it, to help it on its feets.
World economic does not come for free, peace does not come for free, the impact of a bad world economy is far more scary in general as well as devasting to the envoirement as well. Its the end result of everything that matters, not a tiny part in the start or the middle of it.
The co2 and methan ammounts going to the atmosphear is very low compared to the plastic getting dumped into the sea due to low economy to actual handle waste properly. People think that oxygen purely is made from plants and tree's, meanwhile the fact is that most of the oxygen is produced in the sea...
Co2 also helps plants grow, ofc this could be handeled better many places. Close to where I live there is a Milk factory, its co2 exhaust goes into the nearby big garden house, which helps the plants grow and is getting consumed by the plants. The extra heating from systems such as heating water is used to warm up that garden house etc. Every1 could be better to combine and cooperate in such manners.
And the car industry should have started 50 years ago to improve its effeciency. There are plenty of technology that improves the effectiveness of cars by extreame ammounts, which basicly could let you run a car on very low fuel usage, on a very small engine, with very little exhaust left to vent out. Many of them are also healthy for the engine itself. But it cost more to build and some of them are patented, but they are simple enough for People to make back home in their garasjes... forexample water injeksjon, zing tracks and such.
The car industry got some envoirement rules like 10 years ago, and bam suddenly small 1,3 liter engines suddenly was highly effective and spendt way less fuel and let out way less toxic gases etc in just 1 or 2 years... and this is basicly just scraping the surface of technology known for like 50+ years...
Infact all you have to do is use all the technology from equipment made for explosive areas and revert it for the engines..
Since CO2 is not the source of global warming, there is no reason to halt production of oil.
Venezuela could been a Norway. Tbf my $450 power bill this month is pissing me off. #StøreNeedToGo
Wow! 26000 norwegians watched this video, and over 200 of them commented about their country😂
Norway don't need gas and oil anymore. But Europe need it a lot
Remember, here in Norway we exprienced an ice age 11 000 years ago, and a new ice age is waiting, so, we need to keep climate change alive.
If a new ice age sets in we are doomed for another100 000 years.. So I say change the climate now, while we can.. :)
It's called differently.
I'm glad I won't be alive when oil become truly scarce, it's going to be some legit Mad Max sht..
The average worker with a trade make way more money in USA, have less taxes and a lower cost of living. Norway isn't the utopia we pretend to be. A carpenter, plumber, truck driver etc. make a lot more in USA, and if you have a university education in Norway we make less than a plumber, carpenter or truck driver in USA. We have more millonaires in Norway because high qualified workers are extremely cheap, while Tariff 1 workers ( minimum wage) is extremely high. Basically the trade unions together with the labour party has had a policy to keep high qualified workers sallaries low. Resulting in a continuesly brain drain from Norway.
It is really sad how our neighbour Russia is stewarded. They have the worlds biggest area, they have lot of oil and all nature resources. Instead of working on enough food and education and projects for the future, the leaders send their people to trenchvwar, again. Who would imagine that 108 later the biggest war in decades went back to that nightmare, the only difference being drones do the dogfight instead of biplanes.
Look up Dutch desiese. That's the theory of messing up from natural resources, and the Dutch was the first big case.
Wrong. Oil or anything will make any politician corrupt. In Any country. We have Lobby-activity here, as well as anywhere.
@Tyler Walker take an look on this video ;) ua-cam.com/video/DM9QHnfDHdQ/v-deo.html here you can see heavy snow in norway
i love it
My god how misleading of a title i have ever read🤣
we cannot use our oil money on military we got a new ship and shank it like the same month, so we just proved our own point (this i a joke, dont take this to close, but we did sink that ship ourself)
Aktuali its worth 11trilion
I don't know with Christmas almost here if you plan to react to a video about it, but I really recommend this one:
ua-cam.com/video/82R4Do-xJIw/v-deo.html
Thank you for the link :D :D Its my HOMETOWN of Drammen jo :D 👍 cool (dont think Ive ever seen it on YT before)
Most of the oil rich countries are arabic or muslim countries and they aren't exactly known for their strong democracies.
I guess there is a sunnmøring in all of us.. 😛
nepotism in Norway is among top 3 in the world though. Dont be fooled, corruption comes in many forms.
Imagine a character like Donald Trump being head of government back then. He would probably have sold the whole oil and gas business to his friends in the big oil companies for a "fee" to him personally, an Elon Musk type of industrialist.
Everyone is pushing oil.
No. Unlike many oil countries, petrol in Norway is very expensive. The oil fund actively invests in green energy alternatives and Norway, as a country, has more electric cars, per capita, than many, many others. Maybe the most? But I'd have to look it up.
Listen and learn America 😂😂😂🇺🇸🇺🇸🇳🇴🇳🇴🇳🇴
What does Norway do differently? .... Adverbs are your friends. 😉