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A report addressing global energy issues and presenting challenges and potential responses in an objective way. The aim is not to reach conclusions, but to address the key global energy questions which frame the daily debates.
50 years after the discovery of the Ekofisk field transformed Norway´s economic prospects and ushered in an era of rising living standards and industrial success, the outlook is clouded. Oil production has peaked, reserves are limited and the sharp fall in oil and gas prices has put a question mark over future prospects. The question is whether decline is inevitable or whether there is an alternative approach which can allow Norway to move from one half century of success to another…..
Energy is plentiful. Well before anyone had heard of Coronavirus it was clear that the world had more available oil and gas than it needed. The International Energy Agency described the situation in the gas market as a “glut”. OPEC and the United States were in a fight for shares of the oil market. The economic downturn which has followed the pandemic has only made the situation worse. Energy supplies are sufficient – but that does not mean that energy security is assured.