<\/p>\n
North Sea oil drilling will be banned<\/p>\n
A backlash has begun against the UK government\u2019s plan to legislate against new exploration for oil and gas in the North Sea.<\/p>\n
An Energy Independence Bill will stop the granting of new licences in line with Labour\u2019s 2024 manifesto commitment to the transition to clean fuels.<\/p>\n
The legislation will not affect the decision on whether to allow drilling at Rosebank off Shetland \u2013 the UK\u2019s largest known untapped field \u2013 which was approved in 2022 before being subject to legal challenges.<\/p>\n
The Bill will introduce Transitional Energy Certificates, which would allow existing oil and gas fields to provide additional production from \u201careas bordering or in close proximity to already licensed fields\u201d or in areas that are already part of an existing field.<\/p>\n
The government said the move could produce about 60 million barrels of oil and support hundreds of jobs.<\/p>\n
However, David Bucknall, CEO of Ineos Energy, said: \u201cThe government\u2019s legislation to ban new drilling in the North Sea would actively decrease energy security in the UK. <\/p>\n
\u201cLeaving existing resources in the ground at home while we import the same resources from abroad makes our energy autonomy a victim of global instability. Norway, working the same resource-laden continental shelf, is reopening gas fields that have been shut for decades.\u00a0<\/p>\n
\u201cThe UK North Sea has ready infrastructure: the pipelines, platforms, ports, and skilled workforce needed for energy production are already in place. <\/p>\n
\u201cWe could use these resources to meet the needs of UK consumers more quickly, cheaply, and securely than bringing energy in from elsewhere, while protecting homes and businesses from the volatility of geopolitical impacts. This legislation chooses campaign promises over the country\u2019s future.\u201d<\/p>\n
David Whitehouse, chief executive of industry body Offshore Energies UK, said the government was right to target energy affordability, but said it should also prioritise energy security.<\/p>\n
\u201cToday, Britain imports more than 40% of the energy it needs, leaving households and businesses exposed in an increasingly volatile world,\u201d he said.<\/p>\n
\u201cWe should be making the most of the energy we produce here at home rather than relying on imports.\u201d<\/p>\n
Shadow Energy Secretary Andrew Bowie, Tory MP for West Aberdeenshire and Kincardine, called Labour ministers \u201cutterly delusional\u201d and said they were \u201ctotally oblivious to the economic and energy threats this country faces\u201d.<\/p>\n
Andrew Bowie: Labour is delusional (pic: DB Media Services)<\/p>\n
Labour has vowed to sustain \u201cgrowth and investment across North Sea communities as the energy sector transitions\u201d.<\/p>\n
The CBI was more supportive of the bill. Tania Kumar, its director of energy transition, said: \u201cThe Energy Independence Bill is a welcome step towards strengthening the UK\u2019s energy security, improving affordability and supporting the transition to a low-carbon economy. <\/p>\n
\u201cThe Bill addresses some of the key barriers to investment and growth, including high energy costs, delays to grid connections and the need to speed up the delivery of critical energy infrastructure.<\/p>\n
\u201cWith economic growth remaining at a premium, the focus must now be on delivery and ensuring these reforms help build a reliable and affordable energy system that is fit for the future, while giving investors confidence in the UK\u2019s long-term energy strategy.\u201d<\/p>\n
The bill would formally scrap gas standing charges and introduce reforms designed to speed up grid connections, as previously announced.<\/p>\n
An energy wealth fund will be created using tax revenue from oil and gas extraction, with an initial \u00a32bn of funding, to invest in renewable and low carbon energy projects.<\/p>\n
Prime Minister Andy Burnham said: \u201cTogether, these changes will bring bills down for good, give families greater security and put Britain back in control of its energy future.\u201d<\/p>\n
Energy Secretary Miatta Fahnbulleh said the bill would help to \u201cbuild a clean energy future which people feel in their pockets, households and communities, ensuring support reaches those who need it most\u201d.<\/p>\n
It comes two weeks after the government approved production from the Jackdaw gas field off the coast of Aberdeen.<\/p>\n
\t #Backlash #plan #outlaw #North #Sea #drilling #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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