My perception of Denmark's historic decision to stop oil exploration
In this opportunity I want to share my personal analysis about Denmark's decision to stop oil exploration activities, taking into account certain factors such as economic and environmental and how this decision can impact on the mentioned areas.
This decision seems to have originated from an initiative of the Danish government to set as a fundamental objective to stop 100% of the production of hydrocarbons to estimates of the year 2050.
When a goal of such magnitude is drawn up, one has to begin with some initial decisions that can help achieve that goal. The European country took the decision to begin by announcing the end of oil and natural gas explorations in the North Sea, this area that Denmark has chosen where it announced the cessation of exploration is between Denmark and Norway and a part of the Atlantic Ocean.
The announcement made by the Danish Minister of Climate to put a definitive end to the era of fossil fuels gives a clear connotation of Denmark as one of the pioneer countries in taking the first steps to contribute to a planet on the way to solving environmental problems and global warming.
Certainly this decision by the Danish government marks a historic moment for both the country and the European continent, since Denmark is the largest producer of oil in the European Union, although it produces much less than Norway or the United Kingdom, and that a country occupying such a position takes this decision may set the precedent for others to take some similar steps.
How is the oil activity in Denmark?
To get an idea of Denmark's oil activity I will name some figures such as the production rate per day that was estimated in the year 2019 of 103,000 barrels of oil per day, which although it is not a rate as significant as that of the big world producers always has an important meaning together with 55 drilling platforms covering 20 oil fields in its territory.
In my personal opinion I do not know if this initiative will really make other countries take a similar initiative, since the world still depends on the energy percentage that hydrocarbons contribute to the world and that in order to address this type of initiative it is necessary that clean and renewable alternative energy become sufficiently economic and highly potential.
Possible impacts on the economy
Since 1970, Denmark has obtained billions of dollars from North Sea oil and with these funds from oil revenues it was able to finance the generous welfare state of the country. However, with this decision to end oil and natural gas exploration activities, oil production will decrease until they are able to find a substitute income for oil revenues.
The Danish government's spokesperson says that there is a new plan based on carbon storage technology that will be developed in this area, and that the creation of new jobs will come from the country's growing offshore wind sector.
Let's wait and see how the European country develops based on this new initiative to abandon hydrocarbon exploration activities in the North Sea.
It is a very favorable initiative for the ecosystem, undoubtedly they must find a substitute income to the income of the oil and aim at the renewable energies and fuels.
Thank you for your positive feedback. Greetings.
Hello @carlos84
I had no idea about this initiative from Denmark.
It is likely that it will echo this decision, but I find it difficult for other countries to follow. Much more difficult now, in this global economic situation and if we consider that fossil fuel is still the main use, even more difficult. But still, we have to wait.
Well it is good to atleast take small steps.
India announced it will move to generating energy by renewable energy to 60% by 2030 .
These are the type of steps every country must set themselves voluntarily .
As some countries join this initiative, we will be able to see the feasibility of this decision due to the world's energy consumption, which is largely satisfied by oil and its derivatives.
Greetings and thanks for commenting
That is right my dear friend, the idea is that the world's energy demand should be met with other sources of energy than hydrocarbons, otherwise not many countries will join this initiative.
Thank you for commenting. Greetings
Greetings friend @carlos84.
As usual you share with us another extraordinary delivery related to the world of hydrocarbons.
On this occasion you share with us your perception of the historical decision of Denmark on the suspension of oil exploitation, where you make an extraordinary analysis that allows us to understand the issue.
Thank you for your valuable contributions in the world of hydrocarbons and for continuing to educate us about it. Successes.
Thanks to you my dear @rbalzan79 for your very positive appreciation. Greetings
Greetings dear Professor @carlos84
Without a doubt, this type of scenario has an environmental connotation. For Denmark, making this decision does not affect its economy, since historically its commercial strength is the sale of machinery, and in the background the sale of food byproducts, so the oil industry is not its main commercial motivation, now for countries like Venezuela whose economies depend exclusively on oil, it is not at all attractive to make these environmentalist decisions. However, I believe that this type of action should call on the international community to propose new strategies in the area of oil and the environment in order to create balance.
As you say, I believe that everything is in the alternative proposals to supply this oil industry, otherwise it will continue to dominate in the generation of energy worldwide.
I greet my dear professor @lupafilotaxia.
@tipu curate 5
Upvoted 👌 (Mana: 13/78) Liquid rewards.
I hope they do. It is time we realized the importance of environment , ecology over economy . It's time sustainable development is achieved and this is the first step.
We hope that the decisions will really be for the benefit of the planet and humanity.
Greetings and thank you for commenting.
Interesting initiative this country has taken, it must have foreseen that other activities will allow it to carry it out, although I believe that in the near future other countries will join it, it is important that it marks a beginning of our dependence on fossil fuels.
It is certainly a historical fact, but in the end it is a decision without having clear what energy will replace oil, especially taking into account the high costs of "clean" and renewable energy, the other thing to take into account is how little potential this type of energy is in terms of generation.
Greetings and thank you for commenting.
i imagine that the pandemic accelerated this decision to put an end to it's oil industry, other countries can follow this decision and with each country that joins this type of initiative, the price of oil will undoubtedly drop, this year will mark a before and after in the way of life of the human being and the industries that make up the global economy.
Well the important thing here is that I do not end with their oil industry, it was just a decision to stop the exploration activities, I imagine that little by little they will be stopping some other activities until they manage to paralyze it completely, remember that it is a goal set by them in the long term.
Greetings and thanks for commenting.