{"id":365389,"date":"2025-02-08T10:27:20","date_gmt":"2025-02-08T09:27:20","guid":{"rendered":"https:\/\/climatescience.press\/?p=365389"},"modified":"2025-02-08T10:27:22","modified_gmt":"2025-02-08T09:27:22","slug":"equinor-cut-green-investment-in-half","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=365389","title":{"rendered":"Equinor Cut Green Investment in\u00a0Half"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From NOT A LOT OF PEOPLE KNOW THAT<\/a><\/p>\n\n\n\n

By Paul Homewood<\/p>\n\n\n\n

h\/t Ian Cunningham<\/p>\n\n\n\n

More bad news for the idiot Miliband:<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Norwegian energy giant Equinor is halving investment in renewable energy over the next two years while increasing oil and gas production.<\/em><\/strong><\/p>\n\n\n\n

Chief executive Anders Opedal said that the transition to lower carbon energy was moving slower than expected, costs had increased, and customers were reluctant to commit to long term contracts.<\/em><\/p>\n\n\n\n

Mr Opedal told the BBC he was confident that Rosebank \u2013 a giant new oil field in the North Sea \u2013 would go ahead, despite a recent court ruling that consent had been awarded unlawfully.<\/em><\/p>\n\n\n\n

He also warned that gas prices could rise next winter as European gas storage levels were lower now than this time last year.<\/em><\/p>\n\n\n\n

“We are scaling down our investments in renewables and low carbon solutions because we don\u2019t see the necessary profitability in the future,” Mr Opedal said.<\/em><\/p>\n\n\n\n

It will cut investments in renewables to $5bn over the next two years, down from about $10bn.<\/em><\/p>\n\n\n\n

It will also drop a target to spend half of its fixed assets budget on renewables and low carbon products by 2030.<\/em><\/p>\n\n\n\n

By contrast, Equinor will be increasing oil and gas production by 10% over the next two years.<\/em><\/p>\n\n\n\n

https:\/\/www.bbc.co.uk\/news\/articles\/c1jg7k1kjwyo<\/a><\/p>\n\n\n\n

This is of course part of a much wider trend, as we saw today with Orsted\u2019s decision to call a halt to offshore wind development. Renewable energy is wholly dependent on govt subsidy, which as President has shown is illusionary.<\/p>\n\n\n\n

Incredibly the far-left BBC still believe that \u201cRosebank is not straightforward\u201d<\/em><\/p>\n\n\n\n

What could not be more straightforward than a British oil field which could supply ultra cheap oil and gas to the country, sustain thousands of well paid jobs, send millions in tax revenues to the govt, provide an element of energy security and actually reduce emissions in comparison with importing the stuff.<\/p>\n\n\n\n

Only the British hating BBC could object to that!<\/p>\n\n\n\n

BTW<\/strong><\/p>\n\n\n\n

I cannot help but be reminded what the Xi\u2019s useful idiot, Ambrose Evans-Pritchard said last week, when he said that the world\u2019s investors were chasing green energy because that was where the money was!<\/p>\n\n\n\n

Dream on, Ambrose!!!!!!!!!!!!!<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Norwegian energy giant Equinor is halving investment in renewable energy over the next two years while increasing oil and gas production.<\/p>\n","protected":false},"author":121246920,"featured_media":365393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691823624,691833101,691833102,691833100,691819931],"class_list":{"0":"post-365389","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-equinor","9":"tag-european-gas-storage","10":"tag-far-left-bbc","11":"tag-norwegian-energy-giant","12":"tag-oil-and-gas-production","14":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0The-Martin-Linge-field-in-the-North-Sea.-Photo-Stig-Silden-Or-Equinor.jpg?fit=1415%2C707&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1x3n","jetpack-related-posts":[{"id":264699,"url":"https:\/\/climatescience.press\/?p=264699","url_meta":{"origin":365389,"position":0},"title":"Norway Approves \u00a318 Bn Of Oil & Gas\u00a0Projects","author":"uwe.roland.gross","date":"30\/06\/2023","format":false,"excerpt":"Norway\u2019s energy ministry approved oil and gas projects with a total value of more than 200 billion kroner ($18.5 billion) as Europe\u2019s biggest supplier of natural gas works to keep up production.","rel":"","context":"In \"CO2\"","block_context":{"text":"CO2","link":"https:\/\/climatescience.press\/?tag=co2"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/00Norway_Oil_67072.webp?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/00Norway_Oil_67072.webp?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/00Norway_Oil_67072.webp?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/00Norway_Oil_67072.webp?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/06\/00Norway_Oil_67072.webp?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":238084,"url":"https:\/\/climatescience.press\/?p=238084","url_meta":{"origin":365389,"position":1},"title":"Climate hysteria: Scottish Greens prefer imports to new Rosebank oil field?","author":"uwe.roland.gross","date":"06\/01\/2023","format":false,"excerpt":"Worldwide oil consumption is close to\u00a0100 million barrels per day, and rising (apart from a small Covid-related slowdown). Rosebank is the proverbial drop in the ocean, and would reduce the need for imported oil. Demand has to be met from somewhere for the modern world to function, and Russian supply\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-212.png?fit=1024%2C683&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-212.png?fit=1024%2C683&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-212.png?fit=1024%2C683&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/01\/image-212.png?fit=1024%2C683&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":299150,"url":"https:\/\/climatescience.press\/?p=299150","url_meta":{"origin":365389,"position":2},"title":"Floating Wrecks: Perpetually Failing Siemens Offshore Wind Turbines Practically\u00a0Uninsurable","author":"uwe.roland.gross","date":"31\/01\/2024","format":false,"excerpt":"Norwegian energy giant Equinor will temporarily remove all five floating wind turbines from the Hywind Scotland array later this year after discovering a need for \u201cheavy maintenance\u201d on the Siemens Gamesa machines deployed there, Recharge has learned.","rel":"","context":"In \"Equinor\"","block_context":{"text":"Equinor","link":"https:\/\/climatescience.press\/?tag=equinor"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0hywind-tampen-wind-farm.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0hywind-tampen-wind-farm.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0hywind-tampen-wind-farm.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0hywind-tampen-wind-farm.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0hywind-tampen-wind-farm.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":256408,"url":"https:\/\/climatescience.press\/?p=256408","url_meta":{"origin":365389,"position":3},"title":"In Norway, resistance to energy exports to Germany is growing","author":"uwe.roland.gross","date":"07\/05\/2023","format":false,"excerpt":"In Norway, resistance to sharing electricity with Germany is growing, although Economy Minister Habeck made a deal in January for a hydrogen pipeline between the two countries to produce electricity. 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