The externalities engendered from Norway’s activities on the environment, pose another concern apart from its domestic economic implications. Most of Norwegian gas is exported to European countries, 20% of European gas consumption is from Norway, and Norwegian oil supplies 2% of the global consumption of oil. Considering that three million barrels of oil adds 1.3 Mt of CO2 per day to the atmosphere as it is consumed, 474 Mt/year, the global CO2 impact of Norway’s natural resource supply is significant. Despite that Norway exports eight times the amount of energy consumed domestically, most of Norway’s carbon emissions are from its oil and gas industry at 30% and from road traffic at 23%. To address the problem of CO2 emissions, the Norwegian government has adopted different measures, including signing multilateral and bilateral treaties to cut its emissions in lieu of rising global environmental concerns.