I read a story about possible large untapped oil reserves in the Barents sea outside of Norway. The implication is that Norway’s economy can continue to float on pumping and selling oil to the world. This is obviously a naive assumption. As someone said, the stone age didn’t end because of lack of oil, and the fossil fuel age will not end due to lack of fossil fuel. It will end because a better technology comes along, and that technology is already here and is continually being developed.
We have known that for decades, and we have also known that Norway needs to channel oil money into developing renewable technologies. With the wealth currently generated by oil money, Norway is in a unique position to be on the forefront of this field, and continue to be on the forefront of the global shift into renewable energy. And yet, that’s not what they do. Politicians, media, and people in general, still seem transfixed by a path that’s already outdated. And there is still time to make this shift.