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| Wed, 24th Mar 2021 17:36:00 |
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UK seeks to drill more oil and gas from North Sea |
More oil and gas wells are to be drilled in the North Sea, the UK government has announced.
The decision has angered environmental campaigners, who say the government should refuse new licences.
Ministers say permission to drill will be granted as part of a careful transition away from fossil fuels, safeguarding jobs and the economy.
But the environmentalists say that enough fossil fuels to ruin the climate have already been found.
In light of this, they say, the government should have refused the new licences.
They add that the decision undermines the UK position as leader of the vital UN climate conference in November, known as COP26.
But ministers insist that their strategy will work. So-called "checkpoints" will be introduced that take into account domestic demand for oil and gas, projected production levels, the increase in clean technologies such as offshore wind, and the sector’s progress in cutting emissions.
The sector will face targets to reduce emissions by 10% by 2025 and 25% by 2027. It is also committed to cut emissions by 50% by 2030.
It will be helped by joint government and private investment of up to £16bn by 2030.
This will include up to £10bn for hydrogen production and £3bn for a technology called carbon capture, usage and storage - where carbon emissions are either turned into other products such as plastics or buried.
The government says the deal should cut pollution by up to 60 million tonnes by 2030, while also supporting up to 40,000 jobs across the supply chain.
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