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> The oil age is ending in Norway. With "oil age" you mean the use of oil, or its production?

Symbiote 10y ago
Production. The North Sea reached "peak oil" some time ago. Although there have been recent increases in production, the total output is much lower than it was around 2000. http://www.crystolenergy.com/assessing-future-north-sea-oil-gas/ http://www.crystolenergy.com/assessing-future-north-sea-oil-...
- sgt 10y ago
  The oil age in Norway is far, far from over. In fact, I suspect Norway will still be producing oil into the year 2100 as long as there is a market for it world-wide. Cars aren't the only things on Earth that needs oil. In terms of future expansion, one has to consider the unexploited oil reserves that Norway still has hidden in its sleeves. Take Lofoten, Vesterålen and Senja which hold about 1.3 billion barrels of oil. As a comparison, the UK's entire oil reserves is 21 billion barrels. For now, the government has decided not to start exploiting this area. However, a lot can happen in 10-20 years time. There may also be other undiscovered oil reserves along the coast line. Add to this, Norway claims 2.7 million sqm of Antarctica, about 20% of the entire continent. Let's hope the world never comes to the point where nations will argue over this continent because it would not end well. You can be sure there's a lot of oil hiding there, though. 203 billion barrels worth according to some wild speculations (I would not trust that number at all, but it is plausible that the number is high).
Arnt 10y ago
Largescale production. Sheik Yamani, who was petroleum minister in Saudi Arabia and IMO very clueful, once said that at some point, the oil production will slow to a trickle and prices rise to $1k/barrel. There'll still be mineral oil in various fields, he predicted, but at some point the ones that can be exploited cheaply will have been emptied.
- danmaz74 10y ago
  Thx for the clarification.

Production. The North Sea reached "peak oil" some time ago. Although there have been recent increases in production, the total output is much lower than it was around 2000. http://www.crystolenergy.com/assessing-future-north-sea-oil-gas/ http://www.crystolenergy.com/assessing-future-north-sea-oil-...

sgt 10y ago
The oil age in Norway is far, far from over. In fact, I suspect Norway will still be producing oil into the year 2100 as long as there is a market for it world-wide. Cars aren't the only things on Earth that needs oil. In terms of future expansion, one has to consider the unexploited oil reserves that Norway still has hidden in its sleeves. Take Lofoten, Vesterålen and Senja which hold about 1.3 billion barrels of oil. As a comparison, the UK's entire oil reserves is 21 billion barrels. For now, the government has decided not to start exploiting this area. However, a lot can happen in 10-20 years time. There may also be other undiscovered oil reserves along the coast line. Add to this, Norway claims 2.7 million sqm of Antarctica, about 20% of the entire continent. Let's hope the world never comes to the point where nations will argue over this continent because it would not end well. You can be sure there's a lot of oil hiding there, though. 203 billion barrels worth according to some wild speculations (I would not trust that number at all, but it is plausible that the number is high).

Arnt 10y ago

Largescale production. Sheik Yamani, who was petroleum minister in Saudi Arabia and IMO very clueful, once said that at some point, the oil production will slow to a trickle and prices rise to $1k/barrel. There'll still be mineral oil in various fields, he predicted, but at some point the ones that can be exploited cheaply will have been emptied.

danmaz74 10y ago
Thx for the clarification.