OPINION: It is somewhat ironic that Norway, with its bulging $1.1 trillion petroleum fund, has to be cajoled into incentivising vital investments to support the green energy transition as a condition of tax relief measures intended to prop up the country’s beleaguered oil and gas sector.
The Covid-19 crisis and accompanying oil price crash have thrown into stark relief the Oslo government’s tardiness in coming up with adequate measures to promote renewable energy investments in areas such as floating wind and carbon capture, utilisation and storage as desperate contractors champ at the bit for such work amid a sudden drop in their core oil and gas-related business.
