The False Promise of Rosebank
Appalled by the decision to approve the Rosebank project? You should be.
The International Energy Authority (IEA) – a quite conservative and hardly radical organisation – state in their landmark Net Zero Pathway report [1]:
“By 2050, fossil fuel demand falls by 80%. As a result, no new long-lead-time upstream oil and gas projects are needed”
If this is true globally, it is even more true for an advanced economy like the UK, and especially the UK with the best wind resources in Europe.
Our Government will no doubt claim we can use unproven carbon capture at scale, or deploy dodgy carbon accounting (we are world leader’s in that at least), to claim they can still get to Net Zero, or ‘Not Zero’ as we should be calling it.
Rosebank is not about lowering bills and energy security as the Government claims, for several reasons:
Every tonne of carbon dioxide we emit increases the risks of extreme weather events, crop failures and health hazards – that damages everyone’s security
The mostly oil that will be produced is sold on international markets so UK consumers get no preferential treatment in terms of bills or energy security
Renewable energy costs have dropped massively and the UK has the capability to max out wind and solar
Electrification will enable huge improvement in energy efficiency in transport and heating
Electrification is future proofing – it can take electricity from any source (wind, wave, solar photovoltaic, etc) and at different scales (your roof, community energy, North Sea)
Mixed signals creates market confusion that only delays the transition to a post fossil fuel secure and healthy future, and it harms our ability to show ambition and leadership
The IPCC says that every year matters, every tonne of carbon matters, every action matters. We need our Government to listen to the great majority of UK citizens that say they want action, as an IPSOS survey recently highlighted [2].
Reference
‘8 in 10 Britons concerned about climate change – half think net zero target should be brought forward: half think it should be brought forward’, IPSOS, 2nd August 2022, https://www.ipsos.com/en-uk/8-10-britons-concerned-about-climate-change-half-think-net-zero-target-should-be-brought-forward