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Norway Takes Hard Look at Climate Risk for Oil, Gas Riches

Oct. 5, 2017, 4:50 PM

What is 47 billion barrels in oil and gas really worth in an age where renewable sources are increasingly filling the world’s energy needs?

That’s what Norway, western Europe’s biggest oil and gas producer, is asking itself as it prepares to take a hard look at the risks climate change poses to its economy and its petroleum resources even as it moves exploration and production farther into the Arctic.

After being re-elected last month, the Conservative-led government is now setting up a commission to study climate-related risks, ranging from physical threats to the impact of changes in energy consumption on ...