{"id":124780,"date":"2024-01-22T07:52:12","date_gmt":"2024-01-22T05:52:12","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/uks-new-oil-and-gas-bill-wont-improve-energy-security-or-lower-bills-study-warns\/"},"modified":"2024-01-22T07:52:12","modified_gmt":"2024-01-22T05:52:12","slug":"uks-new-oil-and-gas-bill-wont-improve-energy-security-or-lower-bills-study-warns","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/news\/uks-new-oil-and-gas-bill-wont-improve-energy-security-or-lower-bills-study-warns\/","title":{"rendered":"UK\u2019s new oil and gas bill won\u2019t improve energy security or lower bills, study warns"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/124780\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nNew research has affirmed that the UK Government&#8217;s proposed oil and gas licensing bill is unlikely to enhance the nation&#8217;s energy security or reduce bills, based on trends in oil production and exports over the past two decades. UK oil exports surged from 68% to 81% between 2004 and 2022.<\/p>\n<p>A new study from Global Witness reveals that despite the sale of approximately 1,700 new oil and gas licenses over the last twenty years, the UK\u2019s energy security from the fossil fuels has regressed due to a surge in exports and a steep decline in oil production. According to the analysis, the UK Government granted a total of 1,680 new licenses for oil and gas exploration between 2004 and 2023; however, production plummeted by 60% during roughly the same period. In parallel, UK oil exports surged from 68% to 81% between 2004 and 2022.<\/p>\n<p>In November of last year, the Government introduced its Offshore Petroleum Licensing Bill, promoting the expansion of oil and gas licensing and asserting that annual oilfield development would enhance the nation\u2019s energy security and alleviate energy costs for households. This is despite the fact that oil and gas are internationally traded commodities. The UK will have no right to keep oil and gas produced in its own North Sea fields and instead will sell internationally to the highest bidders.<\/p>\n<p>Moreover, green groups have argued that the proposed bill significantly falls short of aligning with the UK\u2019s net-zero by 2050 pathway. Global Witness\u2019 senior campaigner Jonathan Noronha-Gant said: \u201cThe new annual licensing law will do nothing for UK energy security and will allow private companies to send more expensive, polluting fossil fuels abroad. \u201cThis unpopular policy will only prolong the current energy problems we face. People want long-term solutions to help bring down their bills and fight the emissions damaging the climate. New oil fields will only line the pockets of rich fossil fuel firms; they won\u2019t help the millions of Brits struggling to pay their bills.\u201d<\/p>\n<p>Oil and gas, being globally traded commodities, are not entirely retained by nations. Instead, it is deemed more economically advantageous to engage in international trade, allocating resources to markets with high demand and willingness to pay premium prices. It is estimated that around 80% of additional oil and gas resulting from expanded North Sea production would be sent overseas.<\/p>\n<p>Earlier this month, Minister Amanda Solloway MP suggested that export trends could continue, stating that it \u201cis not desirable to force private companies to allocate oil and gas produced in the North Sea for domestic use\u201d. Last week, Net-Zero Review author Chris Skidmore resigned from the Conservative whip in protest against the new bill, calling it \u2018a global signal that the UK is rowing even further back from its climate commitments.\u2019<\/p>\n<p>Later in the same week, Conservative MP Alok Sharma, who in 2021 chaired the UN\u2019s annual climate summit in Glasgow, declared that he will not vote for Rishi Sunak\u2019s oil and gas licencing bill. This has added additional scrutiny to the Offshore Petroleum Licensing Bill proposed by the Government. The next discussion on the Bill is expected to take place on Monday, 22 January, followed by a vote later that evening.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.edie.net\/157176-2\/\">edie.net<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/environmental-news-en\/uks-new-oil-and-gas-bill-wont-improve-energy-security-or-lower-bills-study-warns\/\">UK\u2019s new oil and gas bill won\u2019t improve energy security or lower bills, study warns<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[482,575,771,594,521,792,579],"class_list":["post-124780","post","type-post","status-publish","format-standard","hentry","category-news","tag-energy","tag-environmental-news-en","tag-gas","tag-oil","tag-security","tag-study","tag-uk"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/124780","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=124780"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/124780\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=124780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=124780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=124780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}