The temptation of high oil prices is shaking Norway’s climate commitments
27 Mar 2023
Offshore oil is booming. According to the research firm, Rystad, spending on offshore oil investments exceeded $100 billion in 2022 for the first time in a decade, and will do so again in 2023 and 2024.
Norway, the Scandinavian country that has positioned itself as a climate leader, is driving some of this boom. Norway is spending $21.4 billion on oil projects this year, an increase of 22% from the previous year.
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