Norway has long been held up as a model for how to hold common petrol resources. It is one of the wealthiest nations, and has made investment decisions from proceeds of national revenues coming from oil extraction in the north sea for the most part. They have been able to drill vast reserves with little spillage. And they have been able to put together, in a smart way, a lucrative national fund that is similar to Alaska’s permanent fund.
Norway has at the same time had a keen eye on environmental protection and recently put aside a large preserve in the northern portion of the country- thus declaring near by oil fields as out of reach from current drilling. (This same part of Norway has been utilized to house a vault/bank of world seeds as well as a international data center in case of a global catastrophe.)
And with these sustainability concerns, the country still protects its oil interests and right to extract. A case in point is the latest interception of Greenpeace’s Arctic Sunrise and 35 volunteers by the coast guard near the farthest north exploration area. The attempt seemed to be to stop drilling by gaining ferrying access from rubber rafts and kayaks. Their reasoning was that they had the right to protest in international waters, and they proceeded within a third of a mile from one of the rigs.
Norway bases it’s right to protect such exploration under its petroleum act and at the same time has entered international agreements such as the Paris Accord to commit in reducing carbon and greenhouse gasses. Expectations are that the exploration will continue with drilling for approximately another month. We will see shortly if there are more protesters who join in this short time frame, or whether they will find other avenues in the country short of going to drill rig venues to air their concerns.