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Norway’s Equinor Calls for Fossil Tax to Fund Offshore Wind

POWER
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Norwegian petroleum company Equinor has called for the Norwegian government to tax oil & gas to fund offshore wind projects and reach its climate goals, according to Danish DN, cited by Renews.Biz.

  • The company's CEO, Anders Opedal, suggested using the country's CO2 levy on industry to develop renewables.
  • “The policy works, and today electrification is the most important and most profitable measure to reduce emissions from the production of oil and gas in Norway,” according to Opedal.
  • We don't want more money for the oil and gas industry, but we believe the state's CO2 tax revenue should be used to develop essential power infrastructure for everyone, Opedal added.
  • Oslo implemented a temporary tax regime during the 2020 pandemic, aiming for a 50% reduction in emissions by 2030.
  • The Norwegian government will have a debate on a revised national budget next month.
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Norwegian petroleum company Equinor has called for the Norwegian government to tax oil & gas to fund offshore wind projects and reach its climate goals, according to Danish DN, cited by Renews.Biz.

  • The company's CEO, Anders Opedal, suggested using the country's CO2 levy on industry to develop renewables.
  • “The policy works, and today electrification is the most important and most profitable measure to reduce emissions from the production of oil and gas in Norway,” according to Opedal.
  • We don't want more money for the oil and gas industry, but we believe the state's CO2 tax revenue should be used to develop essential power infrastructure for everyone, Opedal added.
  • Oslo implemented a temporary tax regime during the 2020 pandemic, aiming for a 50% reduction in emissions by 2030.
  • The Norwegian government will have a debate on a revised national budget next month.