GCaptains article by Bloomsberg regarding Orsteds large losses

Stupid comment we are talking power, tiny population and huge hydro resources ( more then 10X Australia)and the country makes all its money exporting oil
Per capita maybe up there with the top Co2 offenders?

"The country emits 41 million tonnes of CO2 annually, according to figures it submits to the UN. This pales in comparison to the 329 million tonnes released by the UK, the 1.5 billion tonnes emitted by Russia, the 4.7 billion tonnes the USA has reported to the UN, and the more than 10 billion tonnes China discharges.

By this metric, Norway looks to be relatively green. However, when emissions per capita are considered, Norway leapfrogs the UK and China, emitting 7.7 tonnes per person."

Crikey are you burning coal at home?

All jokes aside I cant understand why per head you can emit more that a brit using coal?
Love to know what is causing that statistic.

Yes, North Sea exploration etc. largely financed by American companies. Don’t believe they asked for the giant subsidies.now being entertained or asked for by non-American outfits.

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Does it show there is no money in green power and in Europe clearly the work only goes ahead with a giant and ongoing subsidy so they all think thats how the process runs.

Slow uptake in countrys with less subsidy??
Everyone knows Europe, felling forests in the USA and Canada to ship wood chips for biomass as somebody worked out thats good for the environment.
Leaving flying out of the Paris accord so there is no harm to the environment when flying a private jet to a meeting to discuss the price of power for the voters.

The Danish government owns 50.1% of Ørsted.

Why should the US government subsidize a foreign government to operate Wind Farms in US waters?

The US should have it’s own state owned energy company to run their offshore wind farms. Cut out the middle man.

The UK has no state owned energy company and the UK government spends a fortune subsiding several energy companies owned by foreign governments to operate Wind Farms in UK waters.

Higher interest rates will solve this problem and finally end the cancer. This “backing out” of the project is just the beginning; now that money isn’t free (ZIRP), we will see more common sense prevail (thus saving moar cents!).

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With the Eu energy prices based on coal and its penalty the green power companies are getting paid twice both from subsidy and from massively overpriced electricity.

Just repeating the same thing over and over it doesn’t make it true. I explained it, shipengr explained it…

sure it does, Co2 is causing global warming and humans are to blame, the vaccination is safe…

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Glad you finally see, understand and accept the facts. It took a while!!

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Speaking of facts, how is it that the Co2 output per Norwegian is greater than the average Brit?
All that hydro, electric cars etc, its defies belief.
Too many people working in the green sector?

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We are getting far away from the subject, but here is all you ever want to know about Norway’s CO2 and GHG emission:

BTW: Norway had only ONE coal fired power station, in Longyearbyen, Svalbard.
That one has now changed to LS Diesel while awaiting switch to green energy by cable from the mainland.

Looks like electricity and heating is the big co2 contributor thats causing twice the co2 per head than a brit
Yep your using 3 times the amount of power a Brit uses

Still far less than a Singaporean

I am still surprised that the power gen is causing co2 emissions at such a rate?

The oil companies operating in Norway get tax credit for their exploration and development costs. This is offset against their their earnings in the production phase.

PS> In the early days of exploration off Norway there were little facilities and knowhow available in the country. Nobody insisted that the oil companies and drilling contractors used Norwegian material or labour, although some got entry level jobs on the rigs, boats and eventually production platforms. The top and skill jobs were still filled by foreigners.
When Norwegian shipowners got into owning rigs they used foreign drilling contractors to manage the operation and foreigners to fill top jobs on the rigs.
At the same time Norwegians gained the skills, both to design, build and operate the rigs.
The same applied to the OSVs and other services required to develop the Offshore Oil & Gas industry in Norway and beyond.

It is also the case for the Offshore Wind industry today, Although there are only one functioning OWF in Norway to date, Norwegian designed vessels and technology is used worldwide.

I don’t understand where electricity and heating as a CO2 source come from. (??)

All electricity used on mainland Norway is renewable (Hydro, onshore wind) and the heating is mostly by electricity, wood burning and waste heat from incinerators (no coal, but a few oil burning central heating)
Heat pumps for privat home heating and solar panels for lights at the weekend cabins are common.

No Gas powered electricity, except on the offshore platforms and the LNG plant at Melkøya.
Even that is slowly being changed, with the cables from shore and floating wind turbines in the fields.
PS> Electrifying Melkøya is a bit of a political controversy in the present election season:

The income from oil & gas in Norway is invested in a Sovereign Wealth Found, popularly known as the “Oil Fund”:

This is set aside for the next generations, or when oil & gas is no longer needed in large qualities and can only invest in foreign equity, bonds and infrastructure, with a lot of restrictions:

FYI: By law less than 4% of the annual revenue of the fund can be withdrawn by the Government to cover budget expenses.

Wrong, electricity prices in EU was based on the price of natural gas, mostly from Russia.
That has changed since Russian gas is no longer available and since renewables cover a larger shear of the electricity supply.

Here is electricity prices in the EU market today:

NOTE: € Per MWh

BTW: Electricity prices Norway is partly dependent on EU prices since it is on the same grid and market. This is especially so for southern Norway, less so for middle and northern Norway, since the transmission lines between those parts has limited capacity.

Here is hourly prices in Norway (South to North), Scandinavia and Europe for tomorrow:

How power pricing works in Europe

Interesting, Could that happen in USA, or already happening? I feel for the New Yorkers subject to a potential 43% rise in their already not cheap power bills. I enjoy somewhat reasonable/unreasonable power rates in Virginia… Dominion Power has two offshore “Experimental units” and hopes to extend that much further . Infrastructure is being developed by a recent land purchase for a staging/support area of a previously unused property near Oceana Air base. Another staging area was aquired near an unused/delapidated PIT Box terminal in Portsmouth Va a few years back, appx 70-80 acres. Access to navigable waters and railroad service. They are most certainly relying on subsidies, ok with that it stays in country. What will piss me off if and when they raise my rates again with the developmental “surcharges”. Selling the taxpayers and politicians under the all too familiar guise “We will save you money”…

In another vid he worked out that if each supplier earned 10% profit the electricity price in Greece would drop 30%

Surprised to see you take a “libertarian Marxist” (as he describe himself) to your heart.
Is it because he is (or was?) a fellow Aussie?

He has an impressive life story and CV, with a reputation as a rabble-rouser, participating in any protest movement he could find.

It is not only Ørsted that has problems with their US OWF projects under the present regulatory system:

Is it “those greedy foreigners” that is at fault, or could it be that…?
No, no, perish the thought.