Environmental Law
The Norwegian Oil and Gas Industry: Relatively Successful
Norway became an oil producer when it drilled a hole into the continental shelf off its shores on June 15, 1971 (Law Library of Congress 2010, p. 1). Since then the Norwegian oil industry has become the country's largest sector, representing 26% of economic production in 2006. Norway was the ranked fifth in the world for oil exportation in 2009 and the largest in Europe. Although oil production has begun to decline in recent years, the reserves off its coast remain the largest in Europe (Business Monitor International 2013). Norway is the second leading gas exporter after Russia, primarily because domestic use is low given the heavy reliance on hydropower.
Concerns about a possible drilling disaster were voiced soon after the industry began developing the offshore oil fields. A 1976 report in The Guardian claimed that the oil industry would be powerless to quickly resolve accidents (Goldsmith 1976). Estimates at the time suggested that it would take at least five months to fix a blowout, but in the meantime 10,000 tons of crude would enter the North Sea each day. Given Norway's fishing industry, such an oil...
International Environmental Laws on Oil/Gas Production Effects of Oil and Gas Production to the Environment in Norway Over the years, oil and gas production companies have been a serious global concern. This is due to impacts on the environment associated with its production. International principles setup aims at governing the extraction and usage of such sources of energy. Norway is located in Europe, located near North Sea. Its high level of
It was from this lesson that legislators began to understand the need to put away large percentages of their oil profits and to not depend so much on spending that cash flow. After the recession of the 1980s, Norway drastically re-examined its oil policy from both a fiscal and regulatory perspective. Up into the late 1980s, "foreign oil policy followed what was called a 'purely commercial line.' That is, it
In the GEOMAR methodology, carbon dioxide displaces methane within the water lattice which reforms into a more stable state than was present with the methane. While this new technology is still in development, it is very promising (Traufetter, 2007). Recent advances by researchers from Japan, China, India, Canada, Australia, and the United States could result in commercial exploitation of Methane gas within the decade. Natural gas recovery techniques have come
International Regulation of Tourism in Antarctica Since the mid-1980s, Antarctica has been an increasingly popular tourist destination, despite the relative danger of visiting the largest, least explored -- and arguably least understood -- continent on earth. Beginning with the 1959 treaty establishing Antarctica as an international zone free of claims of sovereignty by nation's that had been instrumental in establishing research stations there, there has been almost constant negotiation about how
Polish Companies Reacted to Ethical Issues and Changes in Business Standards Since the Fall of Communism in 1989? Poland's Economy Pre-Communism's Fall Poland's Natural Resources Minerals and Fuels Agricultural Resources Labor Force The Polish Economy Under Communism System Structure Development Strategy The Centrally-Planned Economy Establishing the Planning Formula Retrenchment and Adjustment in the 1960s Reliance on Technology in the 1970s Reform Failure in the 1980s Poland's Economy After the Fall of Communism Poland After the Fall of Communism Fall of Communism Marketization and Stabilization Required Short-Term Changes Section
This similarly encourages modest investment in Russia, a market of 150 million, even in the face of continuing economic difficulties and political uncertainty (Saunders, 105). According to Sunders, the strategy developed to "globalize" Russia was known as "shock therapy." And its implementation began with the January 1, 1992 elimination of price controls on most goods. The objective of "shock therapy" was, in essence, to create a market economy in Russia
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