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Fear of loss of climate wealth is rampant – Norway’s economics minister sees “huge problem”

2024-04-16T04:31:58.615Z

Highlights: Economy Minister Jan Christian Vestre wants to invest more in the energy transition. But right-wing extremist political movements that deny climate change are emerging across Europe. “If the climate action we're taking is too far removed from people's everyday lives, if they're worried about their future and that they won't be able to pay their bills or have a secure job, then that's a huge problem we have to solve,” says Vestre. Norway stepped in when the war in Ukraine threatened massive supply bottlenecks and supplied Germany with oil and gas. The country is currently creating gigantic battery production virtually out of nowhere. Most of it happens in our own country; in the medium term we want to be more independent from China, which is still the world export champion in this area. Now the focus is on offshore facilities off the coast and hydrogen technology and batteries now, said Vestre, in an interview with CNN's John Defterios in Oslo, Norway, on Tuesday.



Norway wants to invest more in the energy transition, says Economics Minister Vestre. But there is criticism. A Europe-wide phenomenon worries him.

Oslo – Norway wants the green transformation – as quickly as possible. The oil boom once made the northern country one of the richest countries on the continent. But we have to gradually say goodbye to fossil fuels, said Norwegian Economics Minister Jan Christian Vestre (Workers' Party) in a small group in Oslo: “The demand for oil and gas is falling faster than we thought. And that’s honestly a good thing, because burning fossil fuels is not sustainable.”

Climate action: “People are afraid they won’t be able to pay their bills”

However, it is worrying that right-wing extremist political movements that deny climate change are emerging across Europe. This makes the debates about the necessary transformation more difficult. “As a Norwegian politician, I will not give any advice about who people in other European countries should vote for,” said Vestre in a Norwegian diplomatic manner. You have to listen to people and respect that there are different views. “If the climate action we're taking is too far removed from people's everyday lives, if they're worried about their future and that they won't be able to pay their bills or have a secure job, then that's a huge problem we have to solve.”

Most people know that climate change exists, says Vestre. You have to convince everyone else. “But not in the way that we as politicians keep telling them that, from our point of view, they are wrong. We have to get them on board and convey the trust that together we can create a better quality of life.”

Massive criticism of wind turbines: “People went to the barricades”

The previous government in Norway had to contend with massive protests against onshore wind turbines a few years ago. At that time, numerous wind turbines were to be installed in rural areas. “When people saw the plans, many went to the barricades,” says Vestre. They feared that the wind turbines would spoil nature. “You have to accept that, you can’t put yourself above people,” said the minister. Recently there were similar protests by the indigenous Sami people in the north of the country. Wind turbines were also planned there.

Norway wants to become more independent from China

Now the focus is on offshore facilities off the coast. “We need to accelerate investments in offshore wind energy, hydrogen technology and batteries now,” said Vestre. The country is currently creating gigantic battery production virtually out of nowhere. Start-ups like Morrow build sustainable batteries, and companies like Vianode supply components. Most of it happens in our own country; in the medium term we want to be more independent from China, which is still the world export champion in this area.

“Germany and Europe will need oil and gas for many years to come”

Minister Vestre made it clear that Norway cannot currently completely exit the oil business. Norway stepped in when the war in Ukraine threatened massive supply bottlenecks and supplied Germany with oil and gas. “Germany and Europe will need oil and gas for many years to come. Maybe it's 15 or 20 years. Because we started the transition to renewable energy far too late.”

Source: merkur

All news articles on 2024-04-16

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