Prime Minister Andy Burnham could be about to approve the Rosebank and Jackdaw fossil fuel fields, despite Labour’s promise to end new oil and gas licences.
The argument that approving Rosebank and Jackdaw would reduce UK bills and improve energy security is a “delusion”, according to the UK Energy Research Centre. Energy prices are set globally and there is not enough oil or gas in the North Sea to have any impact, so there would be no reduction in UK bills whatever the country did. Also, the remaining North Sea fossil fuel reserve is almost all oil, that goes abroad to be refined and is then sold on the international markets, meaning it has no impact on the UK’s energy security.
Proponents of new drilling argue that it would boost the UK economy, but new analysis indicates this would be outweighed by the long-term economic damage caused by global heating (this summer’s heatwaves alone cost the UK at least £1bn) and would keep UK industries and consumers exposed to the international markets that set prices, costing much more than would be delivered in growth.
Approving new oil and gas fields will lock in production, consumption and life-cycle emissions for years to come, while the UK could be accelerating the transition to clean energy and providing leadership and example to reduce carbon emissions worldwide.
There is still time to make your views known, to your MP (if Labour) or to the Energy Secretary Miatta Fahnbulleh. Click here for the Greenpeace action campaign.