Brexit may lead to higher demand for oil

Oil pricePetrouleum. Photo:

Brexit may result in higher demand for Norwegian oil and gas and make it harder to achieve global climate goals,  Statoil and environmentalists think.

Chief economist of Statoil, Eirik Wærness, believes Britain’s No to the EU may be a signal of increased rivalry between the great powers in times ahead, which could lead to almost 50 percent higher oil demand in 2040 than under a renewable scenario,  newspaper Dagens Næringsliv writes.

– There is no guarantee that we will move steadily towards global climate targets,  Wærness  wrote on Twitter on Friday morning. Later in the day he presented the group’s new scenario analysis – an analysis environmentalists  partially agree with.

– There is no doubt that the EU’s joint climate and energy policy has been important to push forward an amendment, also in the UK,  Zero Leader Marius Holm says. However, he believes that the British would rather be self-reliant and head more in the direction of cheaper wind and solar power.


Source: NTB scanpix / Norway Today

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