A related news item these days rolling in Norway is how a big investment (Goliat platform) is posed to make a net loss, costing the goverment a lot of money due

A related news item these days rolling in Norway is how a big investment (Goliat platform) is posed to make a net loss, costing the goverment a lot of money due to the tax regime. (Jury will be out for many years, investments in arctic oil happen 10-15 years before thw income). Because of the high extraction costs for Norwegian oil, it is possible for Norwegian oil to crash, while other oil producers are still massively profitable. So it is not about "oil or not oil" as such but the oil price.