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00:00:00
>> Norway is gearing up for a general election on the 11th of September. And the future of the oil industry is emerging as a crucial concern for voters. Nationwide polls show it's a close race. The current center right Conservatives will battle it out against the Labour Party. But there could be an unlikely kingmaker as Reuters' Gwladys Fouche explains from the oil capital, Stavanger.
00:00:22
>> A crucial factor in this election is going to be the Green Party who could be in a position to decide who gets to be prime minister after the election on September 11th. If they do, it will have crucial repercussions for industries like the one where we are here, which ships equipment to and from oil platforms in the North Sea.
00:00:43
The Green Party wants to phase out oil production within 15 years and they want to stop oil exploration immediately. So this would mean that industries like this one would have a very bleak future.>> Thousands of local jobs were wiped out here when crude prices fell 75% from June 2014 to January 2016.
00:01:05
Business confidence in the region fell for seven out of eight quarters. But it has since picked up and the economy grew more than expected in the first half of 2017, favoring the governing center right. Labour though says not enough's being done to address lingering economic problems. The smaller Green Party is on the rise.
00:01:24
Although there's little chance of it being able to call time on Norway's number one industry, it could seek to force through compromises to trim the sector's ambitions.>> This is what so many people live off, in the kindergarten, in the neighbors, everywhere you meet people who live out of oil.
00:01:40
And so if you were to just close down that industry what are we supposed to live off. I think that's a big question for many.>> As alternatives the Green Party suggests offshore wind, forestry and fisheries. Little consolation for the country's 180,000 employees who depend upon the sector for their livelihood.