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New report: Conversion is possible but will cost

Stripping down the oil industry can mean huge job losses. A new report predicts what the fossil fuel industry will cost.

"We have calculated what it will cost to accelerate the phasing out of the petroleum business, both in terms of employment and what it means in lost income," says Karin Ibenholt, head of Social Economics analysis to Ny Tid. "In short, we find that the largest fall in employment will come after 2025 or 2030, depending on how quickly we phase out oil, but that it will be possible to come up with alternative employment. There are also costs in the form of lost income, but it is uncertain how large these will be. And then you have to assess this loss against what you gain in the form of reduced greenhouse gas emissions. "

As a starting point, Socio-economic analysis has been the basis for the Norwegian Petroleum Directorate's forecasts for oil extraction in the coming decades. "We have worked from a scenario for development in the petroleum sector, as some will probably say. . .

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Tori Aarseth
Aarseth is a political scientist and a regular journalist at Ny Tid.

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