End of North Sea Oil Exploration?

[redback911]

Interesting.

"Miliband overrules officials with immediate North Sea oil ban"
https://www.telegraph.co.uk/business/2024/07/11/mi...

An archived version can be found here... https://archive.is/jZhk7

Well, Labour are not dithering about.

[Diderot]

Read that earlier. This idiotic manoeuvre is no surprise from the absolute berk that signed us up to the Climate Change Act.

[redback911]

The Unions will not be happy.

"We should not be letting go of one rope until we have hold of another,” Graham said earlier this year. “These types of transitions must have workers at the heart. Unite will not stand by and let these workers be thrown on the scrap heap."

https://www.theguardian.com/environment/article/20...

[BikeBikeBIke]

redback911 said:

Interesting.

"Miliband overrules officials with immediate North Sea oil ban"
https://www.telegraph.co.uk/business/2024/07/11/mi...

An archived version can be found here... https://archive.is/jZhk7

Well, Labour are not dithering about.

Jesus Christ.

Putin will love that.

[119]

Well, can’t say I’m surprised.

[remedy]

BikeBikeBIke said:

redback911 said:

Interesting.

"Miliband overrules officials with immediate North Sea oil ban"
https://www.telegraph.co.uk/business/2024/07/11/mi...

An archived version can be found here... https://archive.is/jZhk7

Well, Labour are not dithering about.

Jesus Christ.

Putin will love that.

Is that actually a picture of him in that article or is it photoshopped?
He looks moronic in every photo going. Apt, really I guess.

This was one of Keir's worst appointments. Although I'm looking forward to the union's response. About face or...?

If it wasn't clear, I can't stand that bloke.

[Tankrizzo]

Surely this will be reversed, it's an utterly mental decision.

[Vanden Saab]

And so it begins, slow clap to all those who voted for them. Not even a week before the clowns announce their first omnishambles.

[Rick_1138]

As my wife (who works for an marine wildlife charity) who disagrees with me politically from time to time will say this is great (coz not tories!) Forgetting well just import all qe need from awful parts of the world instead.

But we're stopping climate change......sigh.

[aeropilot]

Tankrizzo said:

Surely this will be reversed, it's an utterly mental decision.

It is mental, but don't bet on it being reversed.

Welcome to the new order.

[bunchofkeys]

The man is always out of his depth.
God knows how he makes it through the first part of the day, without killing himself.
A ridiculous decision and I hope it he has to publicly apologise for being a tit.

[Rick_1138]

As my wife just said " o&g companies can spare the millions lost on bids, I'm glad he's doing it, needs to be done"

As always, let's get rid of awful climate change causing oil...okay, can we have more nuclear then....no.

So it's keep throwing billions at Russia and Saudi...smashing

[Condi]

Vanden Saab said:

And so it begins, slow clap to all those who voted for them. Not even a week before the clowns announce their first omnishambles.

Wasn't it quite literally in their manifesto? Or at the very least it was pretty well talked about, wasn't it? Their policy was no more oil and gas drilling but existing licences would stay. Can't see why this is a surprise to anyone other than Telegraph readers.

[RSTurboPaul]

Telegraph article said:

In a debate earlier this year, he said: “Oil and gas licensing will not reduce energy costs for households and businesses … will not enhance energy security, and offers no plan for the future of the UK’s offshore energy communities.

“It will ensure the UK remains at the mercy of petrostates and dictators who control fossil fuel markets and is entirely incompatible with the UK’s international climate change commitments.”

Perhaps I'm missing something... how would having our own guaranteed, local supply of fossil fuels not reduce energy costs for households and businesses and enhance energy security?

[RSTurboPaul]

Rick_1138 said:

As my wife just said " o&g companies can spare the millions lost on bids, I'm glad he's doing it, needs to be done"

As always, let's get rid of awful climate change causing oil...okay, can we have more nuclear then....no.

So it's keep throwing billions at Russia and Saudi...smashing

Russia and Saudi will be part of the new BRICS arrangements, with participant countries trading between themselves using the new gold-backed 'UNIT' currency on the mBridge system, totally sidestepping the West and previous USD/petrodollar arrangements.

I predict massively increased costs for the West if we want to engage with the BRICS nations in the future.

[RustyMX5]

That's the death knell of Scottish Independence then.

[eharding]

Condi said:

Vanden Saab said:

And so it begins, slow clap to all those who voted for them. Not even a week before the clowns announce their first omnishambles.

Wasn't it quite literally in their manifesto? Or at the very least it was pretty well talked about, wasn't it? Their policy was no more oil and gas drilling but existing licences would stay. Can't see why this is a surprise to anyone other than Telegraph readers.

Stated in the manifesto, and announced as a policy over a year ago. I suspect the decision will be quietly reversed or finessed at some stage over the next 15 years that Labour are in power, but VS will have clapped himself to death by then.

[Four Litre]

Imagine how stupid you would feel if you voted for them (By choice!)

For those who did, well done. It will only get worse from here on.

[dingg]

A huge error of judgement imo.

Yes it doesn't bring cheaper oil but does provide many thousands in decent employment.

The N Sea oil industry will decline naturally without political interference, its an old mature basin hanging on by a thread anyway...

[NRS]

RSTurboPaul said:

Telegraph article said:

In a debate earlier this year, he said: “Oil and gas licensing will not reduce energy costs for households and businesses … will not enhance energy security, and offers no plan for the future of the UK’s offshore energy communities.

“It will ensure the UK remains at the mercy of petrostates and dictators who control fossil fuel markets and is entirely incompatible with the UK’s international climate change commitments.”

Perhaps I'm missing something... how would having our own guaranteed, local supply of fossil fuels not reduce energy costs for households and businesses and enhance energy security?

He's speaking rubbish. Although on a more simplistic basis it's probably true.

Probably the main short term impact of this will be a lot of job losses. Any company with an exploration department or any service companies with jobs related to exploration are just going to let everyone go immediately, or move the jobs elsewhere. Pretty much all the big companies have already left. So it's a lot of smaller companies that will be hit, and they will often have specialised in the UK so it's less easy to move jobs to other places.