Challenges for Norway in implementing intergenerational equity in its offshore petroleum

Abstract

This article examines the challenges faced by Norway in implementing intergenerational equity in its offshore petroleum licensing regime. Norway has been considered by many to be a leader in the regulation of its offshore petroleum, with an emphasis on state control and encouraging a prudent approach by operators, but also emphasising rational and efficient solutions. Unlike some other countries, it has also enacted legislation to support its convention obligations in relation to matters like pollution and the protection of biodiversity. These obligations are also reflected in its constitution. But climate change and other challenges as it moves exploration into more sensitive northern areas are throwing a spotlight on the conflict between those matters and Norway’s vital oil economy.