A new survey by Statistics Norway indicates that government-backed investments in the country's oil and gas sector are expected to reach a record high in 2025 before declining sharply in 2026. The findings raise concerns about long-term sustainability and the potential impact of falling energy prices on future drilling plans, Reuters reported.
According to the survey results released in August, oil and gas investments in Norway are set to peak at 274.8 billion Norwegian crowns (around $27 billion U.S.) this year.
This surge is set to be driven largely by planned production drilling and the final stages of several major projects. However, preliminary estimates show a sharp drop in investment for 2026, falling to 229.4 billion crowns, as companies scale back spending on new field developments.
The trend is raising red flags amid unstable energy markets. "There is a risk that some of the planned drilling campaigns may be postponed," Statistics Norway warned, per Reuters, citing falling and volatile oil and gas prices as key threats to future activity.
While rising oil and gas investments may boost short-term economic activity, they come at a high cost to the environment and public health. The burning of fossil fuels, which releases vast amounts of heat-trapping gases into the atmosphere, is a leading driver of rising global temperatures and poor air quality.
The resulting particulate air pollution has been linked with numerous health impacts, including respiratory conditions and cardiovascular concerns, according to the U.S. Environmental Protection Agency. The extraction of dirty energy sources can also pollute soil systems and waterways, increasing the risk of serious illness, compromising food supplies, and devastating ecosystems as well as local economies in the event of disasters such as pipeline leaks.
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Despite scientific warnings, fossil fuel companies and lobbyists can often delay or block the advancement of clean energy policies. Norway's continued investment in fossil fuels clashes with urgent global calls to phase them out.
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