Norway Plans Tax Breaks For Oil Companies In Arctic

New tax breaks will put Norwegians on the hook for oil
production taxes levied by the United Nations for drilling deeper
in the Arctic, according to Reuters. The report suggests the
strategy of spreading legal costs to citizens could set an example
for other nations planning to explore fossil fuel production
farther and farther from solid land. Opposition parties in Norway
seek to limit oil exploration in the country’s waters. The
Scandinavian country’s sovereign wealth fund is famed for using its
fossil fuel wealth to fund the development…

New tax breaks will put Norwegians on the hook for oil
production taxes levied by the United Nations for drilling deeper
in the Arctic, according to Reuters. The report suggests the
strategy of spreading legal costs to citizens could set an example
for other nations planning to explore fossil fuel production
farther and farther from solid land. Opposition parties in Norway
seek to limit oil exploration in the country’s waters. The
Scandinavian country’s sovereign wealth fund is famed for using its
fossil fuel wealth to fund the development…