Money Talks: The new power in the North Sea
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 12 January 2023
⏱️ 38 minutes
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Summary
For decades, the North Sea’s fierce gales have created a challenge for those extracting the oil and gas buried beneath its swells. But the region’s poor weather is also the key to its future: offshore wind. And the plans are surprisingly ambitious.
On this week’s podcast, hosts Tom Lee-Devlin, Alice Fulwood and Mike Bird ask whether the North Sea can turn green. The Economist’s Matthieu Favas says wind farms in the North Sea could power Europe’s 200m homes. Jesper Frost Rasmussen, mayor of Esbjerg, explains how the offshore wind industry has changed life in the Danish port town. Ulrik Stridbæk of Orsted, the world’s largest offshore wind developer, says that some sites are already generating the same amount of power as a large nuclear power station. Plus, we speak to Thomas Dalsgaard about why his firm, Copenhagen Infrastructure Partners, wants to build a physical island 100 kilometres off the coast of Denmark.
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Transcript
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| 0:00.0 | Do you want to understand how the economic headlines shape the investment landscape? |
| 0:05.2 | With the world as connected as it is, the impact that political and economic events have |
| 0:08.8 | on markets can be surprising, with repercussions that are fascinating. |
| 0:12.8 | I'm Luke Bartholomew, host of MacroBites, join me and my co-host Paul Diggle and our expert |
| 0:17.8 | guest as we analyse and explain what the key events and trends mean for investors. |
| 0:22.8 | Find MacroBites, that's Bites, spelled B-Y-T-E-S, wherever you get your podcasts. |
| 0:30.4 | Money Talks from the Economist is sponsored by Invest Puerto Rico. |
| 0:38.3 | More than just a Caribbean paradise, Puerto Rico is a business powerhouse. |
| 0:43.3 | This U.S. territory is a fast-growing hub for innovators. |
| 0:47.2 | Puerto Rico boasts numerous tax credits, business incentives, |
| 0:51.2 | and world-class talent that take your business to the next level. |
| 0:55.2 | Find out why at investpr.org. Game changers, welcome home. |
| 1:06.4 | I am actually born in Esburg. I have been living in Esburg almost my entire life. |
| 1:11.2 | That's Jesper Frost Rasmussen, who is now the mayor of Esburg, a Danish port town of 72,000 people |
| 1:18.0 | on the North Sea. The Danish Chicago was the saying when I was a kid. |
| 1:23.8 | Fishery was the very big industry in Esburg. There was a lot of vessels at the port side. |
| 1:30.2 | Then the oil and gas activities was increasing during the 80s and 90s. |
| 1:35.2 | It was a rough city and a lot of blue-collar workers. People were a bit concerned about |
| 1:40.8 | entering town in the late Saturday evening. A lot of fighting and stuff like that. |
| 1:47.0 | But if you travel to Esburg today, you'd see a very different story. |
| 1:51.6 | This has changed completely in the last 20 years because now the people of the city are so |
| 1:57.7 | different. Now you see a lot of young people's students sitting with their laptops on a cafe, |
... |
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