Norway Shows the World How to Achieve Electric Car Dominance
- Jun 19, 2021 10:03 am GMT
I love living in Norway. It’s a beautiful country with nothing other than the weather to complain about. But this Nordic dream comes with a sizable oil stain; a foundation built on 50 years of lucrative hydrocarbon exports.
From official data, I estimate that Norway has sold fossil fuels amounting to roughly 44 billion barrels of oil equivalent – a CO2 legacy in the vicinity of 15 gigatons. Norwegian production costs are attractively low, so we can reasonably assume a profit of $23/barrel to reach a cool $1 trillion in historical cumulative hydrocarbon profit (resource rent, to be more precise).
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