Ban on new oil and gas drilling confirmed as UK ministers consult on North Sea’s ‘clean energy future’ #climatecrisis www.theguardian.com/business/202... - ThreadSky

dpcarrington.bsky.social • 8 days ago

Ban on new oil and gas drilling confirmed as UK ministers consult on North Sea’s ‘clean energy future’

#climatecrisis
https://www.theguardian.com/business/2025/mar/05/ban-on-new-drilling-confirmed-as-ministers-consult-on-north-sea-clean-energy-future?utm_source=cbnewsletter&utm_medium=email&utm_term=2025-03-06&utm_campaign=Daily+Briefing+06+03+2025

Comments

alistairblantyre.bsky.social•8 days ago

Hold the line for once pl?

chronosschiron.bsky.social•8 days ago

ya again talk to canada and its new ways of extracting LNG that are better for environment

harveyrandall.bsky.social•8 days ago

That's great and all except it leaves out two key parts:
1. The ”windfall” tax on North Sea drillers will be scrapped from 2030
2. The legislation doesn't prevent expansion meaning "oil companies could be allowed to increase the size of their fields with “bolt-ons” to existing licences."

harveyrandall.bsky.social•8 days ago

It's absolutely a step in the right direction and I know big changes like this don't happen overnight, it's slow and incremental. At the same time I'm not going to pretend nor celebrate it as such a groundbreaking step as the headline makes it out to be.

stayyoungnyc.bsky.social•8 days ago

I’m so sorry that the US is wiping out all progress. It must be so incredibly frustrating for other countries.

tobyberry6325.bsky.social•8 days ago

Wow- good job UK

niaru.bsky.social•8 days ago

Do bolt-ons reconcile with the CCC’s ‘balanced pathway’?

niaru.bsky.social•8 days ago

The declines we’re going to need to see are enormous.

Oil and gas Fields must either be exhausted or stranded surely?

stockfttp.bsky.social•8 days ago

niaru.bsky.social•8 days ago

Great charts. It’s hard to put a p/e together if the revenues are destined to go south.

stockfttp.bsky.social•8 days ago

Clearly without a favourable tax position new fields are uninvestable. Existing ones likely strand let alone new.

Gov does have a tricky balance to strike in managing new fields without being sued under the ECT

niaru.bsky.social•8 days ago

That awful thing.

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