Course Title
“Norway: Exploring the Tension between Green Values and Oil Profits”
Professor
Bill Martin, Clinical Professor of Business Administration
Dates
March 2023
Destination Cities
Oslo and Bergen
Course Description
Norway is one of the wealthiest nations on earth. In large part, the nation’s wealth is derived from its enormous oil reserves. Monetizing its natural resources has essentially allowed this small homogeneous nation to develop excellent education, healthcare, and social programs for all of its citizens.
The residents of Norway are listed as among the most environmentally conscious and happy people in the world. A recent New York Times article states “Norway has set out to be a global leader in climate action.” The country aspires to only have electric cars sold in the country by 2025. It is aiming to reduce its own carbon emissions by 40% by 2030 compared to 1990 levels, exceeding the European Union’s targets.
Currently, Norway’s Ministry of Finance reports that the petroleum sector (not including the host of service and supply industries adjacent to it) represents 28% of the nation’s GDP, 42% of the government’s revenues, and 58% of Norway’s total exports in 2022. Meanwhile, the push for more Norwegian off-shore oil production continues as the sea ice melts.
How do the people and institutions of Norway reconcile the tensions that exist between their most significant source of national wealth and their green values?
On this GIX, you will meet business leaders, government officials, academics, environmental advocates, and ordinary citizens to learn more about the financial, political, social, and ecological forces described above. This global experience will also provide students with an opportunity to hone their intuition, seek different perspectives from a wide variety of stakeholder groups, and navigate contentious ground more effectively in the future.