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about half of all planned oil and gas developments between now and 2050 will be sanctioned by wealthy governments that position themselves as climate leaders: the US, Canada, Australia, Norway and the UK.,,the industry has
fought tooth and nail to delay measures that would reduce demand for their product. They say that oil and gas profits are needed to fund the transition to clean energy, all the while knowing that oil and gas companies
account for only 1% of clean energy investment globally.
Here in the UK, a movement has sprung up to loudly defend the public interest and weaken the power of the oil and gas industry. Supported by calls from scientists, health experts, MPs and even
ex-oil and gas CEOs, this movement is challenging the dominance of the industry and its reheated arguments. It
successfully halted the Cambo oilfield in 2021; framed the terms of the debate in Westminster and
put pressure on politicians over new oil and gas licensing rounds; and is now focused on stopping the biggest undeveloped oilfield in the North Sea at Rosebank.
The flawed environmental calculus that enables governments to approve new oil and gas fields has recently been corrected by
courts in the UK and
Norway. Governments must now consider the emissions caused by burning the oil and gas extracted from fields when they assess a project’s environmental impacts, not just the much smaller emissions created by the extraction process.
Together with its commitment to
end new exploration licensing, our new government is starting to grasp the urgent imperative to curb new production, as well as the huge opportunities presented by the transition to renewable energy. Unlocking these opportunities will require a properly funded and comprehensive just transition, and an industrial strategy designed with the interest of workers and ordinary people at its heart. But the reward for getting it right is thousands of good, long-term jobs; new sources of prosperity in parts of the country that need it most; and more affordable energy for all. And the biggest prize of all: averting climate disaster.
Tessa Khan@the Jolly Greeen Guardian