Abstract for: Getting to Zero: Transitioning Norway’s Oil Industry
Reducing Norway’s oil production, UN world goal; net zero emission society by 2050. Net zero emissions means that any emissions must be captured and stored. The government of Norway's goal is to become a net zero emission nation by 2050. Our policy focuses on transitioning the Norwegian economy from oil to green, for two reasons; to reach the crucial and agreed upon goal by 2050 and to make the Norwegian economy less reliant on an industry with negative prospects. Our implementation strategy is to reallocate funds from oil R&D to increase investment in Green Economy R&D. By growing the green economy beyond where the oil industry is now, we are securing new jobs for the oil workers. In an aggregate level we hope that, by making the job transition a smooth affair, political resistance against facing out oil will decrease drastically. Our policy results in 800 b metric tonnes less CO2 emissions by 2050 than projected. The goal of net zero is reached in time. The projections of carbon capturing technology is crucial to the final equation. An absolute zero seems feasible as the green econom's growth is more than enough for all the oil workers to transition.