Home Daily Blitz Big Oil’s Dream of $65 Billion Hidden Off Norway Is Fading Away
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Big Oil’s Dream of $65 Billion Hidden Off Norway Is Fading Away

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The following is an excerpt from Mikael Holter | August 6, 2017 | Bloomberg.com |

Norway’s oil industry has been salivating for years over the Arctic Lofoten islands, which could hold billions of barrels of crude. It will likely have to keep dreaming.

The general election next month is unlikely to lift a deadlock that’s keeping a ban on drilling off the environmentally sensitive archipelago as more and more Norwegians are turning their backs on the industry that helped make the country one of the world’s richest.

“It’s a dead issue,” said Frank Aarebrot, a professor of political science at the University of Bergen.

For more visit: Bloomberg.com

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