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Denmark has high oil and gas reserves, which partly is why their debt-to-gdp is so low. Why would they benefit in green energy infrastructure?
by dev_dull 7y ago
Denmark has high oil and gas reserves, which partly is why their debt-to-gdp is so low. Why would they benefit in green energy infrastructure?
- detaro 7y ago"high reserves" that according to Denmarks government after 2032 will not be able to cover Denmarks own oil consumption and likely be exhausted before 2050. Every barrel of oil they don't use now either delays that or brings them money to invest, and using the income now to prep for later seems like a sane strategy.
- JamisonM 7y agoBecause they identified the transition to green energy (grøn omstilling) as a strategic national goal almost 40 years ago and the policy is very popular. They can benefit from export revenue or make the moral choice to leave their reserves in the ground.
- jVinc 7y ago> Why would they benefit in green energy infrastructure? The worlds largest Wind Turbine Manufacturer Vestas is danish. Besides them, there's lots of green energy infrastructures companies that are expanding. Also of note, the Large Danish companies LEGO and Novo Nordisk have already gone 100% CO2 neutral on productions through various offsetting initiatives[1]. Oil money is not something to flush down the toilet, but the country is moving very heavily in the green direction. The oil will dry up, or we'll reach a point where it's political suicide to keep going after it. But the wind will keep blowing and the sun will keep shining. [1] yes that's not enough, but a good milestone on the road forwards