U.K. Bans Further Oil & Gas Drilling in North Sea
At the heart of the matter is how the U.K. balances left-leaning policies to reduce greenhouse gases, while also seeking independence...
The U.K. Labour government has introduced a bill that would ban any new exploration for oil and gas in the North Sea, as part of its commitment to reduce global warming, reports BBC News.
Under the provisions of the Energy Independence Bill announced November 4, the North Sea Transition Authority would no longer be able to grant new oil and gas licenses in the oil- and gas-rich area off the coast of Scotland. However, the bill would not stop drilling at the U.K.’s largest untapped oil field at Rosebank of the island of Shetland, because that was approved in 2022.
The opposition Conservatives said the bill was "dangerous," and accused Labour ministers of being "totally oblivious to the economic and energy threats this country faces."
The Energy Independence Bill, if passed by the Westminster parliament, would introduce Transitional Energy Certificates that allowed additional production from existing oil and gas fields and "areas bordering or in close proximity to already licensed fields." The government said the move could produce about 60 million barrels of oil and support hundreds of jobs.
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