UK Commits To Hundreds Of New North Sea Oil And Gas Leases
On July 31st, Britain committed to granting hundreds of licenses for North Sea oil and gas extraction as part of efforts to become more energy independent, drawing criticism from environmental campaigners
Prime Minister Rishi Sunak confirmed plans for more than 100 such licenses, which attracted bids earlier this year, and said hundreds of future licenses could also be granted.
He also announced fresh support for two carbon capture and storage (CCS) clusters in Scotland and northern England.
Britain has a target to reach net zero emissions by 2050 but Prime Minister Rishi Sunak said even by this date the country is expected to get more than a quarter of its energy from oil and gas.
He said new domestic fossil fuels would help to improve energy security and reduce reliance on states such as Russia.
“We have all witnessed how Putin has manipulated and weaponized energy… Now more than ever, it’s vital that we bolster our energy security,” he said in a statement.
Image: Reuters
British efforts to reach the net zero target have become a sharp dividing line between the governing Conservatives and the opposition Labour Party ahead of an election expected next year, with Sunak saying it should be met in a “pragmatic” way that does not add to household bills.
The government argues that stemming the decline in domestic supply would reduce the ‘carbon’ footprint when compared with an alternative option of importing liquefied natural gas.
[However], it is facing legal challenges from climate activists and ‘green’ groups who warn increasing fossil output is at odds with the goal.
Sunak said the new licenses were compliant with the government’s environmental targets.
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Koen Vogel
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The beginning of the end. Consider:
1) The UK government gets very significant revenue from the oil and gas business
2) The overhyped “sustainable” wind and solar sources have failed to deliver the wild-eyed promises that were made
3) Politicians sooner or later are up for re-election and blackouts and tax increases are unacceptable
Mr Sunak has no choice but to choose for reality over climate activism.
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Howdy
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Right on Koen. Perhaps there is room for some optimism?
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