Oil lobby, biggest energy union see domestic industry unharmed Norway’s sovereign wealth fund said it wants out of oil Can Norway dump $35 billion in oil and gas investments, and simultaneously convince that same industry to throw money into the country’s own fossil-fuel future? After the initial shock of learning that Norway’s $1 trillion wealth fund wants nothing to do with it, the petroleum industry says both are in fact possible. But the mood is shifting. While the fund said its proposal is about spreading risk and doesn’t imply a negative outlook on the oil industry, the plan reverberated as a nod from western Europe’s biggest oil producer to the uncertain future facing oil. Such doubts are the last thing the country’s offshore industry needs. It’s just suffered through a three-year slump, and is struggling with public opinion as it faces an historic lawsuit to stop its expansion in […]