It was hot last month. The hottest September on record by a staggering 0.5c. If we want our staycations to get even hotter, we’re taking world-beating measures to guarantee it. Rosebank is a case in point.
After the government issued development and production consent to the Rosebank oilfield last month the decision was lauded by no less an authority than the GMB (Energy Union) General Secretary, who said it was a move to decrease reliance on imported gas and oil and increase jobs.
Of course, another way to guarantee energy independence and create jobs would be to build 56 coal fired power stations, because that’s how much carbon dioxide will result from Rosebank’s oil production when burned. Empty another scuttle of coal on the fire. At least we have a new coalfield coming online in 2025, the first in 30 years.
The usually environmentally sound Norwegians will be happy. Rosebank will be owned and operated by Equinor, a Norwegian listed company who have been given around £3.75 billion in tax breaks, resulting in a probable £100 million net loss to the UK tax payer, and will profit royally from the oilfield by exporting at least 80% of its oil output to the highest international bidders. Gas production in the North Sea will be sufficient to last for 12 months and will be sold to struggling householders at global market prices.
Caroline Lucas, the Green MP says that developing Rosebank ‘would mean producing more emissions than 28 low-income countries combined’, but then as a politician she would say that, wouldn’t she? And the public has had quite enough of experts too: the 700 scientists that wrote to ministers asking them to halt new oil and gas developments are probably just scare-mongering.
Government’s own analysis shows that emissions from existing fields are already set to exceed the industry’s 2040 and 2050 targets for reducing upstream emissions, even without Rosebank. Bringing Rosebank online pushes overshoots up even further, blowing past UK climate targets. But who believes Government research these days?
It’s going to get hotter, and it seems to me that Net Zero is just a dream somebody had. Nothing has changed in Government thinking, because nobody messes with oil and gas when there’s so much money to be made.
