Tuesday, 21 May 2019
Sea Change: climate change, jobs and managing the phase-out of UK oil and gas extraction
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.