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Bloomberg: Norwegian Voters Deliver Warning to Country’s Oil Industry


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Bloomberg: Norwegian Voters Deliver Warning to Country’s Oil Industry

Business

Category: Business and Investment News

Norwegian voters have fired a warning shot at the country’s oil industry.

Parties that want to rein in the country’s golden goose made significant gains in Monday’s local elections. That raises the prospect of more advances for those forces that want to limit drilling in the Nordic nation, which supplies 25% of the European Union’s natural gas.

Bolstered by record support in the capital, the Green Party made no secret of who it’s targeting in the next general election, due in 2021.

The oil lobby is “shaking in its boots tonight,” Oslo Deputy Mayor Lan Marie Nguyen Berg said in a speech to party members. “The time when it was OK to make money by destroying our future will soon be over.”

Climate change was among the most discussed topics during the campaign, and the results marked gains for the Greens, the Socialist Left and the Red Party. Those three parties, which all favor restrictions on the oil industry to different extents, sit on the opposition benches in the national parliament.

Source: Bloomberg

Published: September 10, 2019