Russia & Greens jubilant: Boris Johnson considers ban on UK oil and gas exploration 

North Sea oil platform [image credit:]

The UK is getting more like California every day in terms of an obsession with phony climate virtue signalling, with its drive to weaken the energy industry wealth creators and subsidise their so-called ‘renewable’ competitors.
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Ministers are considering declaring the beginning of the end for the North Sea oil industry with a ban on new exploration licences, says The Sunday Telegraph (via The GWPF).

The radical move is on the table as part of a decisive shift away from fossil fuels and as part of preparations for the crucial climate summit the Government is due to host in Glasgow in the autumn.

Britain is already legally bound to deliver “net zero” carbon emissions by 2050.

Options being consulted on are understood to include an end to issuing licences in 2040, and an immediate temporary pause in licences. No change to the licensing regime is also possible.

One industry source said a decision is close. A ban on new licences would begin the terminal decline of British exploration in the North Sea and would be particularly controversial in Scotland.

An estimated 39pc of the 270,000 total UK jobs supported by the oil industry are in Scotland – more than any other UK region – and the SNP has relied on forecasts of future North Sea tax revenues to claim that the nation could pay its way outside the Union.

Full article here.

via Tallbloke’s Talkshop

March 14, 2021 at 10:09AM

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