Equinor has pledged to keep Norwegian petroleum production at current levels until at least 2035. The interesting thing about this is that it would follow the most aggressive scenario put forward by government agencies... (the government owns 67% of Equinor) 1/

#StopBurningFossilFuels

The High, Base and Low scenarios are all based on production from opened areas: Ch4: "The Norwegian Offshore Directorate's estimate for undiscovered resources in opened areas forms the basis for production from new discoveries." When/if new areas are opened for exploration, High is not "highest"?

This is indeed not how a "transition away from fossil fuels" should look like. But there's a price tag that should go with it. We recently estimated the economic damages associated with carbon majors fossil fuel extraction. climateanalytics.org/publications...

The Offshore Directorate also produces short term projections, to 2033, and the "base case" in the previous slide requires accessing resources (not yet found or too expensive to extract). To follow the high case, would require massive investment in new exploration. 2/