Norway Unveils $3 Billion In Renewable Energy Funding - AFP

[hatrack]

Norway, the world's third largest oil producer, said Thursday it would create a 20-billion-kroner (3-billion-dollar, 2.4-billion-euro) fund to promote renewable energy. The government's 2007 budget proposal, to be presented on Friday, includes the provision of 10 billion kroner for the fund and a further 10 billion in 2009.

Proceeds from the fund were to be transferred to Enova, a government agency charged with promoting the production and use of environmentally friendly energy sources.

The total return from the investments is estimated to reach 880 million kroner per year when 20 billion has been paid into the fund. This amount will come on top of Enova's 700 million annual budget, the Ministry of Petroleum and Energy said.

A third of the money will be used to support the use of renewable energy. The remainder of the cash will be directed to energy efficiency initiatives and the promotion of non-polluting heating sources.


EDIT

http://www.terradaily.com/2006/061005153739.884rk8ht.html

[Greyhound]

1. Gotta just love 'em. K & R

:kick:

[JohnWxy]

2. recommended!

[robinlynne]

3. great, but norway is not the world's third largest oil producer. where did

this article come from?

[hatrack]

4. Agence-France Press - 3rd largest non-OPEC would fit . . .

But the US is the #3 producer, at least according to BP's Statistical Review.

http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/publications/energy_reviews_2006/STAGING/local_assets/downloads/pdf/table_of_world_oil_production_2006.pdf

[YankeyMCC]

5. There used to be another nation that led the world

in invocation like this...who was that...thinking, thinking...oh yeah the effing USA!

<sarcasm>I mean it's not like the USA has the money Norway has. Or the resources in terms of the amount of talented engineers, scientists and entrepreneurs or places of research and development that Norway has. </sarcasm>

[w4rma]

6. It looks like America is falling far behind in this industry, also. (nt)

[Stockholm]

7. Norway kick

Here´s some neighborly love! :hug: