Tuesday, 21 May 2019
The Sea Change report, to which I contributed, shows that UK government policy of squeezing every last drop of oil out of the North Sea is incompatible with its claims to be dealing appropriately with the danger of climate change. The government lavishes subsidies on oil companies producing in the North Sea: the deal is currently so good that in two recent tax years the aggregate tax bill for North Sea producers was negative, i.e. rebates exceeded payments. The report also considers what a “just transition” away from oil production, that defends the interests of oil workers and the communities dependent on the industry, might look like.
"Trilateral talks between the EU, Russia and Ukraine on gas transit through Ukraine after 1 January 2020 are due to resume in late May. Gazprom’s transit diversification projects, Nord Stream 2 and Turkish Stream, will not be operating at full capacity by that time and arrangements must be made. But there is little sign of progress in the talks and political factors could prevent a deal being done. Should there be a supply interruption, it could have a lasting negative impact on the position of gas in Europe." - My comment published by the Oxford Institute for Energy Studies