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Author Topic: Fossil Fuel Profits Getting Eaten Alive by Renewable Energy!  (Read 5342 times)

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AGelbert

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    • Renwable Revolution
     

Norway Oil Bosses Insist End Isn’t Near After $35 Billion Shock Investment Dump

November 20, 2017 by Bloomberg

SNIPPET 1:

By Mikael Holter (Bloomberg) — Can Norway dump $35 billion in oil and gas investments, and simultaneously convince that same industry to throw money into the country’s own fossil-fuel future?


After the initial shock of learning that Norway’s $1 trillion wealth fund wants nothing to do with it, the petroleum industry says both are in fact possible.

But the mood is shifting. While the fund said its proposal is about spreading risk and doesn’t imply a negative outlook on the oil industry ;), the plan reverberated as a nod from western Europe’s biggest oil producer to the uncertain future facing oil.


SNIPPET 2:
Confident Lobby

The proposal needs approval from Norway’s government and possibly even Parliament. Crucially, it has no bearing on the terms offered to oil companies operating offshore Norway, said both Industry Energy and the Norwegian Oil and Gas Association , a lobby group for companies such as Royal Dutch S , Total SA and Exxon Mobil Corp. all companies that could be dropped by Norway’s wealth fund if the proposal is implemented.

Full article:

http://gcaptain.com/norway-oil-bosses-insist-end-isnt-near-35-billion-shock-investment-dump

Message for the Norwegian Oil and Gas Association:   

Wait on the Lord: be of good courage, and he shall strengthen thine heart:
wait, I say, on the Lord. -- Psalm 27:14

 

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