We would love to hear your thoughts about our site and services, please take our survey here.
“Rishi Sunak is considering weakening some of the government's key green commitments in a major policy shift.
It could include delaying a ban on the sales of new petrol and diesel cars and phasing out gas boilers, multiple sources have told the BBC….”
https://www.bbc.co.uk/news/uk-politics-66857551
Interview with Ed Milliband on the latest BBC Newscast podcast here:
https://www.bbc.co.uk/sounds/play/p0g3cqqn
At 14 minutes 21 seconds in, he made the claim that renewables are 3x cheaper than fossil fuels.
I thought they were 9x cheaper!?!
Anyone heard this change of narrative elsewhere?
Not if these people get their way - won’t have any need for it!
https://ukfires.org/absolute-zero/
I couldn’t find the exact list but page 8 contains something similar:
https://globalenergymonitor.org/wp-content/uploads/2022/10/GEM_UKNorthSea_Report_v3.pdf
Other reading:
https://www.nstauthority.co.uk/media/8394/reserves-and-resources-2022.pdf
https://www.ukeiti.org/oil-gas
Https://www.bbc.co.uk/news/uk-scotland-66013963
"Asked how energy bills are supposed to be falling by 2030, as it claims they will, Labour's answer is that renewable energy is already cheaper than gas-fired power stations.
But that's for turbines already installed, and the comparison is with gas at recent high prices. For decades to come, bills are going to be paying off the capital costs of many more turbines required, and the wiring to get offshore wind power to customers - itself a logistical and political challenge. Supply chains are stretched, and the industry warns that costs are rising.
As we've found in the past year, soaring energy bills only serve to distract people from the Great Energy Transition, while they struggle to get through the current crisis for the household budget. So sequencing is important, to reduce price volatility.
The challenge of doing this in a fair, equitable way is a huge one, and choking off supply without a simultaneous path to the transition risks making it worse."
If Labour had not agreed to honour existing licences would they have been at risk of legal action a la Rockhopper against the Italian Government?
https://www.theguardian.com/business/2022/aug/24/oil-firm-rockhopper-wins-210m-payout-after-being-banned-from-drilling
Reason for Sir Keir’s u-turn?
Interesting NS strategy update from Parkmead just out. Their potential Perth development has been binned….
https://www.londonstockexchange.com/news-article/PMG/uk-north-sea-strategy-update/16005273
“ As well as calling for the EPL to be scrapped before March 2028, the date it’s currently due to expire, he wants the price floor mechanism to take effect if either “oil OR gas” drops below the required level, rather than both.”
https://www.energyvoice.com/oilandgas/north-sea/508054/independent-north-sea-producers-call-for-epl-windup-before-2028/
Answers my question - thanks.
Probably a stupid question, but if oil averaged $50 per barrel for two consecutive quarters, but gas averaged £1.00 per therm for two quarters, would the higher 75% rate apply on everything? Or are oil and gas taxed separately (i.e. 40% on oil, 75% on gas)? Seems very unfair if a company only produces oil to have to pay 75% tax....
"The tax rate for oil and gas companies will only return to 40% if both average oil AND gas prices fall to, or below, $71.40 per barrel for oil and £0.54 per therm for gas, for two consecutive quarters. This level is based on 20-year historical averages. The Energy Security Investment Mechanism is not expected to impact receipts from the Energy Profits Levy, based on current market forecasts."
https://www.gov.uk/government/news/new-oil-and-gas-tax-changes-set-to-protect-energy-security-and-british-jobs
“If there is a deal, it could involve the combined company listing in New York, the sources added.”
https://www.reuters.com/markets/deals/north-sea-oil-gas-producer-harbour-merger-talks-with-talos-sources-2023-06-06/
Press the “cookies” in the bottom left hand corner of the screen and hit “decline.”
Stops a lot of the pop ups for me.
Need to do it most days though which is annoying ☹️.
And another one….
https://www.cityam.com/north-sea-oil-and-gas-projects-essential-to-uks-energy-future-warn-academics/?amp=1
Lot of press the last few days….
Https://oilprice.com/Energy/Crude-Oil/Labor-Leaders-Oil-Plans-Spark-Outrage-In-Scotland.html
Surprised this hasn’t happened sooner to be honest.
https://www.bbc.co.uk/news/uk-england-london-65648245
Golden Eagle gets a mention here - apologies if already posted….
https://www.energyvoice.com/oilandgas/501838/nsta-to-greenlight-22-north-sea-projects/