The UK will continue to extract oil and gas, despite “green” policies
Domestic oil and gas production will continue to play an important role in the UK's energy mix, despite a commitment to zero emissions by 2050, Prime Minister Boris Johnson said Tuesday .
While the UK is pushing to build more offshore wind capacity, it will nevertheless continue to allow new oil and gas projects in the British North Sea as this seeks to meet its energy security. The past few months have shown that Europe and the UK cannot do without natural gas, while Britain has witnessed a cost of living crisis with soaring energy bills and the maximum price of such bills. set to rise by 54% from 1 April, which is estimated to affect 22 million households in the UK.
The government believes oil and gas play a role in the UK's energy transition, a cabinet spokesperson told The Independent. So nothing just wind or solar, or hydroelectric.
“The oil and gas industry will continue to play a role as we make this transition. They are investing in clean technologies like carbon capture and hydrogen that we need to get to net zero, ”the spokesperson said.
Meanwhile, the government is expected to approve the development of six new oil and gas fields in the North Sea this year, the Daily Telegraph reported this week.
Rishi Sunak, Chancellor of the Exchequer, has asked Secretary of Affairs and Energy Kwasi Kwarteng to accelerate licensing for six fields as fears about the economic impact of net zero grow by 2050, The Telegraph learned. Politically, the country's political survival is also based on energy.
Earlier this year, offshore energy management body OGUK warned that the UK could become much more vulnerable to price shocks and geopolitical events unless new offshore fields are approved and developed. and UK gas production could drop by 75% by 2030.
The UK government is unwilling to shut down the sector which supplies 73% of the UK's energy and satisfies 47% of its natural gas demand. But authorities recently proposed that new project developments pass the so-called net-zero compatibility test. In short, pretexts are being sought to continue to extract oil.
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The article The UK will continue to extract oil and gas, despite the "green" policies comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/il-regno-unito-continuera-a-estrarre-petrolio-e-gas-nonostante-le-politiche-verdi/ on Wed, 09 Feb 2022 07:00:31 +0000.