Norway Says No To Billions Of Barrels Of Oil While Trump Seeks More Pipelines

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Over the weekend, politicians in Norway dealt a major blow to their country’s powerful oil industry when the opposition Labor Party — Norway’s biggest political group and a traditional oil backer — said it would no longer support oil exploration off the Lofoten islands, a remote and biodiverse archipelago in the Arctic region.

Norway, Western Europe’s largest oil and gas producer, appears to be “walking away from billions of barrels of oil and gas,” Bloomberg said.

The Labor Party’s decision to oppose drilling in the area drew a sharp rebuke from the Norwegian Oil and Gas Association, whose chief said the industry was “surprised and disappointed.” …

An excerpt from Huffpost