Prospects: Global and national transformation from a fossil-fuel-dependent economy

The project addresses the transformation from a petroleum-dependent Norwegian economy. It analyses the effects of a declining Norwegian petroleum extraction sector for the domestic economy as a whole. We will examine the flow of workers, competence and knowledge spillovers from the petroleum sector and its surrounding innovation activities to other, greener parts of the economy.

The first part of the project examines how the Norwegian economy can achieve a less oil-dependent productivity growth. The second part of the project studies how future climate policies in large countries/regions can change the extraction of fossil fuels. The main analytical tools are numerical models of the global markets.