Norway's corona paradox: Could have had 3.4 GW offshore wind for oil money

With one hand, Norway's government provides massive support for electric vehicles and tenders out regions for offshore wind, and with the other, it aids the oil industry with postponements on tax payments and tax cuts of NOK 8 billion.

Instead of aiding the oil industry, Norway's government could have built offshore wind farms, says BNEF. Photo: Arne Reidar Mortensen/Equinor

Norway's energy sector is a multifarious thing, and despite its lack of nuclear power plants, it's still split in the middle.

On one hand, river water provides more than 90 percent of the nation's electricity. There's a rapid build-out of onshore wind and the beginnings of fixed-bottom offshore wind and pioneer projects within the floating kind happening. Not to mention groundbreaking efforts within CO2 storage and hydrogen.

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