End of North Sea Oil Exploration?

End of North Sea Oil Exploration?

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Discussion

redback911

Original Poster:

2,803 posts

274 months

Thursday 11th July
quotequote all
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An archived version can be found here...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

8,244 posts

200 months

Thursday 11th July
quotequote all
Read that earlier. This idiotic manoeuvre is no surprise from the absolute berk that signed us up to the Climate Change Act.

redback911

Original Poster:

2,803 posts

274 months

Thursday 11th July
quotequote all
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

10,312 posts

123 months

Thursday 11th July
quotequote all
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An archived version can be found here...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

9,824 posts

44 months

Thursday 11th July
quotequote all
Well, can’t say I’m surprised.

remedy

1,770 posts

199 months

Thursday 11th July
quotequote all
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An archived version can be found here...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

7,556 posts

201 months

Thursday 11th July
quotequote all
Surely this will be reversed, it's an utterly mental decision.

Vanden Saab

14,846 posts

82 months

Thursday 11th July
quotequote all
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

3,773 posts

186 months

Thursday 11th July
quotequote all
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

36,730 posts

235 months

Thursday 11th July
quotequote all
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

1,128 posts

76 months

Thursday 11th July
quotequote all
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

3,773 posts

186 months

Thursday 11th July
quotequote all
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

18,026 posts

179 months

Thursday 11th July
quotequote all
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

11,288 posts

266 months

Thursday 11th July
quotequote all
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

11,288 posts

266 months

Thursday 11th July
quotequote all
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

8,284 posts

225 months

Thursday 11th July
quotequote all
That's the death knell of Scottish Independence then.

eharding

14,182 posts

292 months

Thursday 11th July
quotequote all
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

2,109 posts

200 months

Thursday 11th July
quotequote all
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

4,245 posts

227 months

Thursday 11th July
quotequote all
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

23,044 posts

209 months

Thursday 11th July
quotequote all
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.