World's biggest sovereign fund to dump oil and gas stocks: Norway

Yahoo – AFP, March 8, 2019

Norway's sovereign wealth fund, fuelled by the state's oil revenues, is divesting
its oil and gas holdings (AFP Photo/HOMMEDAL MARIT)

Oslo (AFP) - Norway's sovereign wealth fund, the world's biggest and which is fuelled by petrodollars, will divest its oil and gas holdings to reduce its exposure to the oil sector, the Norwegian government announced on Friday.

While the decision is based solely on financial considerations and not on the environment or climate change, a divestment by an investor worth more than $1 trillion will undoubtedly be seen as a major blow to polluting fossil fuels.

The government of Norway, the biggest hydrocarbon producer in western Europe, said it would exclude companies classified as exploration and production companies from the fund.

"The objective is to reduce the vulnerability of our common wealth to a permanent oil price decline," Finance Minister Siv Jensen said in a statement.

The decision follows a recommendation made the Scandinavian country's central bank in 2017.

Oil and gas represent almost half of exports of Norway's and 20 percent of the state's revenues.

The revenue from the state-owned oil and gas companies are placed in the sovereign wealth fund -- commonly referred to as the "oil fund" but formally known as the Government Pension Fund Global -- which Oslo then taps to balance its budget.

At the end of 2018, the fund had holdings worth around $37 billion in the oil sector, with significant stakes in Shell, BP, Total and ExxonMobil among others.

The decision "does not reflect any specific view on the oil price, future profitability or sustainability of the petroleum sector. This assessment is thus independent of the government's current petroleum policy, which remains unchanged," the government said.

Related Articles:

"Recalibration of Free Choice"– Mar 3, 2012 (Kryon Channelling by Lee Caroll) - (Subjects: (Old) Souls, Midpoint on 21-12-2012, Shift of Human Consciousness, Black & White vs. Color, 1 - Spirituality (Religions) shifting, Loose a Pope “soon”, 2 - Humans will change react to drama, 3 - Civilizations/Population on Earth, 4 - Alternate energy sources (Geothermal, Tidal (Paddle wheels), Wind), 5 – Financials Institutes/concepts will change (Integrity – Ethical) , 6 - News/Media/TV to change, 7 – Big Pharmaceutical company will collapse “soon”, (Keep people sick), (Integrity – Ethical) 8 – Wars will be over on Earth, Global Unity, … etc.) - (Text version)

“… 4 - Energy (again)

The natural resources of the planet are finite and will not support the continuation of what you've been doing. We've been saying this for a decade. Watch for increased science and increased funding for alternate ways of creating electricity (finally). Watch for the very companies who have the most to lose being the ones who fund it. It is the beginning of a full realization that a change of thinking is at hand. You can take things from Gaia that are energy, instead of physical resources. We speak yet; again about geothermal, about tidal, about wind. Again, we plead with you not to over-engineer this. For one of the things that Human Beings do in a technological age is to over-engineer simple things. Look at nuclear - the most over-engineered and expensive steam engine in existence!

Your current ideas of capturing energy from tidal and wave motion don't have to be technical marvels. Think paddle wheel on a pier with waves, which will create energy in both directions [waves coming and going] tied to a generator that can power dozens of neighborhoods, not full cities. Think simple and decentralize the idea of utilities. The same goes for wind and geothermal. Think of utilities for groups of homes in a cluster. You won't have a grid failure if there is no grid. This is the way of the future, and you'll be more inclined to have it sooner than later if you do this, and it won't cost as much…

Water

We've told you that one of the greatest natural resources of the planet, which is going to shift and change and be mysterious to you, is fresh water. It's going to be the next gold, dear ones. So, we have also given you some hints and examples and again we plead: Even before the potentials of running out of it, learn how to desalinate water in real time without heat. It's there, it's doable, and some already have it in the lab. This will create inexpensive fresh water for the planet. 

There is a change of attitude that is starting to occur. Slowly you're starting to see it and the only thing getting in the way of it are those companies with the big money who currently have the old system. That's starting to change as well. For the big money always wants to invest in what it knows is coming next, but it wants to create what is coming next within the framework of what it has "on the shelf." What is on the shelf is oil, coal, dams, and non-renewable resource usage. It hasn't changed much in the last 100 years, has it? Now you will see a change of free choice. You're going to see decisions made in the boardrooms that would have curled the toes of those two generations ago. Now "the worst thing they could do" might become "the best thing they could do." That, dear ones, is a change of free choice concept. When the thinkers of tomorrow see options that were never options before, that is a shift. That was number four.”

THE RELATIONSHIP TO GAIA - April 2010 (Kryon channelled by Lee Carroll)

New Mini Ice Age

"The weather you have today, and all the alarming attributes of it, is a scenario of what was scheduled to happen on Earth anyway. I review again that the weather changes you are seeing prophesied by myself, 21 years ago, are not a surprise. The changes are not caused by the pollutants you put in the air. You call it global warming and that's a nice phrase, and perhaps that will get you to put less pollutants in the air – a very good thing. But what you are seeing in the weather shift today was not caused by Humans putting things into the air. It would have happened anyway in about 300 years."

"We've called this process the water cycle, since it's all about water, not about air. The water is the predominant attribute of Gaia and of the weather cycle you're seeing. More predominant is the temperature of it. The cycle is ice to water and water to ice, and has been repeated on this planet over and over and over. It is not new. It is not exceptional. It is not frightening. But it's a cycle that modern humanity has not seen before, and it's a long cycle that is beyond the life span of a Human Being. Therefore, it tends to be overlooked or not seen at all !"

"In the days of the Lemurians, the water level of the Pacific Ocean was almost 400 feet lower, and that's only 50,000 years ago. [Kryon invites science to check this out – the water level at that time.] That was a water cycle working, and the reason it was lower was due to so much of the water being stored as ice. Today you're going through another water cycle that will eventually lead to cooling. The last one was in the 1400s."

"Science sees that at about 1650. As mentioned, they are so slow there is no remembrance that a Human has of them except in past writings and in the rings of the trees. The time span of the changes is so great that environmental record keeping does not exist in the form that it does today. But you can still look at the rings of the trees and at the striations of the rocks and can generally figure out that a few hundred years ago, you had a mini-ice age. Now you're going to have another one." 

20TH KRYON SUMMER LIGHT CONFERENCE, US (7), June 2-4, 2017 (Kryon Channelling by Lee Carroll) (Text version "The State of the Earth")

"....  A mini ice age is coming. "Kryon, isn't that doom for the planet?"  Many have seen the artist's rendering of major earth cities under ice and all of the other things that go very well with science fiction movies. That's simply a painting of someone's doom scenario, not reality based in the history of the cycle. If you want to know what a mini ice age is like, just flash back in history and study what took place in about 1650. That was a mini ice age. Due to the change in the Gulf Stream (the ocean), the river Thames froze in London. Dear ones, it was cold, but it did not doom the planet. That's a mini ice age.

That's what you're facing, and I'll say it again. If you live in a cold climate, heed this advice: It's going to get colder. Get off the grid! Within the next 15 years, find a way of producing electricity independently or in smaller groups. This can be done neighborhood-wide or separately in homes. You're going to need this, dear ones, because the grid as it exists right now all over the world is not prepared for this coming cold, and the grid will fail. That's not doom and gloom, that's just practical, commonly known information. Your electricity infrastructure is delicate, too delicate. Prepare for a cold spell that may last for a couple of decades. That's all it is. Technology is racing forward to allow this. Don't let your politics get in the way of your survival. ..."

"...  This is controversial. The planet can't just "change the water". It does it instead with a "reboot of life in the ocean" using the water cycle. Watch for evidence of this as it occurs, and then remember this channel. This weather cycle is to refresh the life in the ocean so that everyone on the planet will have needed food from the ocean. Gaia does this by itself, has done it before, and it does it for a reason - so it will not stagnate.

Dear ones, indeed, you have put compromising things into the air and the water, but it has not caused this cycle. We have said for a very long time, stop killing the environment! The reason? It's going to kill you, not Gaia. Gaia is spectacularly resilient and will survive anything you do. However, it is you who may not survive if you continue polluting. All this is starting to change with your awareness, and you're starting to see this and move with it. But Humans are not causing the current weather shift. This will be known eventually.

What is happening has happened before, and it's almost like a reboot for the oceans and it carries a lot of dichotomous events. You're going to see reports of a dying ocean, but at the same time you're going to see unusual reports of too many fish and other sea life in places that were supposed to have a decline. You're going to see the life cycle of the ocean itself start to change and reboot.

The chief player in this renewal is a place you would not expect: Antarctica. I want you to watch for magic in Antarctica. It has always been the core of the refreshing of microbes and other kinds of life in your oceans and it's especially active during these mini ice ages. The process will cause currents under the sea to be filled with new life, delivering it to both hemispheres almost like an under-sea conveyor belt. ..."