Rose-BANK $$$ given the go ahead. Congrats to the oil and gas industry, their lobbyists and shareholders.

09:26 news today – “Shares in Ithaca Energy, which will partner with Norway’s Equinor to develop the huge Rosebank oil field, 80 miles west of the Shetland islands, have jumped more than 8% on news of the approval of the controversial project.
The shares are the top riser on the FTSE 250 in London.”

The UK Government will grant hundreds of new licences to extract oil and gas from the North Sea – 31 July.

“And nor will we ban new oil and gas in the North Sea which would simply leave us reliant on expensive, imported energy from foreign dictators like Putin.” UK PM, 20 September.

“there’s nothing ambitious about simply asserting a goal for a short-term headline without being honest with the public” – also UK PM, 20 September.

“For starters, even before Putin’s full scale invasion of Ukraine, we only imported around 4 per cent of our gas directly from Russia” Channel 4 News Fact Check.

“And perhaps more importantly, we export much of what we extract from UK land and waters — around 80 per cent for oil .
The private companies that own the fields are under no obligation to sell the oil and gas to UK energy suppliers.” – also Channel 4 News Fact Check.

Last week Professor Jim Skea, Chair of the IPCC said in his speech to us in London that existing oil and gas reserves are enough to blow the budget for 1.5C temperature rise – something set out in the IPCC report in March 2023. IPCC advises that immediate and rapid action to phase out fossil fuels is essential for curbing climate change.

Sowing seeds of confusion is hardly putting us on the war footing needed, according to Lord Deben (former Chair of the Commitee on Climate Change), to address the climate emergency.

Never mind, let’s go back to our day jobs like obedient professionals and see if we can’t rearrange those deckchairs.

#OilandGas#JustStopOil#climateemergency#decarbonisation#peopleandplanet#profit