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As part of a major policy change over the weekend, the Norwegian Labor Party, longtime ally of the oil industry and the largest party that is currently in opposition, said he would no longer support the opening of the Lofoten Archipelago to drill oil drilling closer to a permanent drilling ban in the region.
The picturesque Lofoten Archipelago is currently barred from oil drilling through years of political compromise. The ruling Conservative Party, as well as the Labor Party until very recently, supported in principle the launching of feasibility studies for potential development, but did not receive the support of their junior partners when they were in office. power.
Now that the Labor Party is withdrawing its support for the oil potential, the Lofoten region will probably remain closed to oil exploration, with the largest party joining the smaller parties in the Norwegian Parliament who do not want to risk damaging the pristine archipelago.
Ecologists and small Norwegian parties have strongly opposed any interference with the beauty of the Lofoten, Vesterålen and Senja islands.
"It takes courage and vision to defend systemic change. The ongoing protection against drilling and oil exploration in Lofoten, in northern Norway, should serve as an example to the rest of the world, "said environmental protection organization SeaLegacy, commenting on the party's decision Labor.
The major change of position of the largest party and supporter of the long-standing oil industry, the Labor Party, probably means that the region will never be exploited.
Potential oil resources under the scenic islands are estimated to be between 1.3 and 3 billion barrels of oil equivalent, with an estimated value of US $ 60-65 billion.
The Labor's shift in drilling position in the Lofoten could, however, make the oil industry nervous that further changes in political support for oil drilling could occur in the future.
According to Bloomberg, the debate over oil drilling could now focus on the opportunity to open more areas of the Arctic Sea to the Barents Sea.
By Tsvetana Paraskova for Oilprice.com
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