According to a new report by Reuters, the European Union is maintaining its strict ban on new oil and gas drilling in the Arctic—even as Norway, Europe's biggest gas supplier, pushes hard for them to reconsider.
Norway argues that with current geopolitical instability and turbulent energy markets, developing new resources in the Barents Sea is crucial for Europe's long-term energy security. Without new discoveries, Norwegian production is expected to decline in the 2030s.
However, the EU (backed by environmental campaigners) isn't backing down. They argue that Arctic ecosystems are far too delicate to risk industrial pollution. Furthermore, new drilling projects would take over a decade to actually come online—meaning they wouldn't solve today's immediate energy woes anyway.
The EU is set to publish its revised Arctic policy on October 20.
