When 🛢 is just 💶

2008: The important fact is that once giant oil fields go into decline it is fast. The typical decline rates for the Norwegian giants are well above -10% per year.

Is this true?

Yes and no, just replace that ...
https://t.iss.one/StopDeepMining/38

Nesten all olje og gass som produseres i Norge eksporteres, og eksportverdien utgjør over halvparten av samlet norsk vareeksport https://perma.cc/8NC8-V2SY

Oil / Gas = half of total Norwegian merchandise exports

Gjennom over 50 år er det produsert og solgt rundt 55 prosent av det som antas å eksistere av utvinnbare ressurser i petroleumsforekomster på norsk kontinentalsokkel. Dette tilsier at det også de neste 50 årene er potensial for et høyt aktivitetsnivå på sokkelen.

Over 50 years, around 55 percent of what is believed to exist of recoverable resources in petroleum deposits on the Norwegian continental shelf has been produced and sold. This indicates that there is also the potential for a high level of activity on the shelf in the next 50 years https://perma.cc/U4CJ-T2TZ

Statens samlede netto kontantstrøm fra petroleumsvirksomheten anslås til 986 milliarder kroner i 2023 og 832 milliarder kroner i 2024. Anslaget for 2023 er om lag 299 milliarder kroner lavere enn statens netto kontantstrøm i 2022 https://perma.cc/6L6C-8DD5

The state's total net cash flow from petroleum operations is estimated at NOK 986 billion in 2023 and NOK 832 billion in 2024. The estimate for 2023 is approximately NOK 299 billion lower than the state's net cash flow in 2022.

Siden oppstarten har petroleumsvirksomheten i Norge gitt en verdiskaping på om lag 15 700 milliarder kroner målt i dagens kroneverdi https://perma.cc/6PL8-2WPY

Since its inception, the petroleum industry in Norway has created value of approximately NOK 15,700 billion measured in today's krone value.

Now? Over 17 trio

Ved utgangen av 2023 var statsgjelden 567 milliarder kroner inklusive statens egenbeholdning.

2023 the national debt was 567 bio

Back to "oil is declining" ...
https://t.iss.one/MissionWillowProject/214

Let we check the real facts

In 2022, only 0.13% of the energy Equinor produced was renewable, while 99.87% was fossil fuels.

And the preliminary size estimate for the discovery in the Cook Formation is between 0.2 and 1.0 million standard cubic metres of recoverable oil equivalent https://archive.is/0s9SP

This week, the Norwegian government will be releasing a white paper on the future wealth creation from Norwegian energy resources (“Stortingsmelding om langsiktig verdiskaping fra norsk energiressurser”). Rather than planning for a managed decline of its oil and gas industry, the plan is expected to facilitate further expansion. The government is also expected to issue new oil licences shortly after https://perma.cc/3EG4-SHJV

Johan Sverdrup is the third largest oil field on the Norwegian continental shelf, and a major supplier of energy to Europe. The entire field is now on stream, and accounts for roughly a third of Norway's oil production. It also has some of the lowest CO2 emissions of any oil field in the world https://archive.is/ICQOE

This week a successful capacity test has been performed confirming that the field can produce up to 755,000 barrels of oil per day https://archive.is/fyOiR

Det er en myte at norsk olje er den reneste i verden. Selv om vi har god offentlig styring og gjennomfører en rekke tiltak for å begrense utslippene, finnes det flere produsenter som har lavere utslipp.

It is a myth that Norwegian oil is the cleanest in the world. Although we have good public management and implement a number of measures to limit emissions, there are several manufacturers that have lower emissions.

Noen har tatt til orde for å elektrifisere sokkelen med fornybar energi for å redusere utslippene. Ettersom utslipp fra produksjon bare utgjør to prosent av livssyklusutslippene til olje, har tiltak for å begrense den liten påvirkning i det store bildet https://archive.is/S1Hsu

Behind "oil is declining" ... Part 3

Part 1 https://t.iss.one/MissionWillowProject/214

US companies and NOCs are maximizing hydrocarbon profits and are less prepared for new market conditions.

ConocoPhillips’ climate strategy aims to limit the carbon intensity and greenhouse gas intensity of its own business operations. The company adjusted its portfolio by abandoning capital-intensive projects and projects with a higher emission intensity. ExxonMobil remains focused on global production in shale basins and offshore; Chevron is increasing production in the Permian Basin and the Gulf of Mexico. To reduce their carbon footprints, US companies plan to focus on CO2 capture and storage projects, as well as hydrogen initiatives
https://t.iss.one/NatureFreaksFacts/860
https://t.iss.one/PollutionFacts/150
https://t.iss.one/MissionWillowProject/182
https://t.iss.one/ElonMuskPollution/32
to
https://t.iss.one/ElonMuskPollution/35

So the real people behind climate change, except those who share such infos / fight for that, scientists, implement laws and similar things, ARE ENGINEERS!
https://t.iss.one/LetzteGenerationTelegram/97

Obviously everyone need to change, but important is that politicians / CEOs / engineers change priority! where CEOs and politicians are just related to laws / financial projects ...

Because if they don't change, the change of "small people" have just minimal impacts. No matter what, PEOPLE STILL NEED TO CHANGE! because everything is contributing!
https://t.iss.one/MissionPlaneta/96

Solution?

a) IMPLEMENT HUGE FINES / TAXES!
https://t.iss.one/EthicalDilemmaHumanRights/119
https://t.iss.one/AnimalFreaks/2127

and if profit from oil is done, USED FOR THE WHOLE POPULATION not rich people / CEOs / politicians = to change to new energies and help poverty, WITHOUT abusing it!

b) IMPLEMENT ECOCIDE!
https://t.iss.one/EcocideTelegram
https://t.iss.one/StopEcocideTelegram
https://t.iss.one/StopEcocidio

c) CHANGE YOUR LIFESTYLE!
https://t.iss.one/ClimateToDo

🇳🇴 we don't invest in bad companies ... SURE! STOP INVESTING IN SHELL!
https://t.iss.one/MissionWillowProject/214