Change. Clearly it is a popular policy by the public and heading up to the next election it would be a strange decision for the government to row back on anything with public support. Can the government have it both ways, say yes to granting licences for oil and gasp projects but at the same time it commitments to net zero . New licences for the north sea is not a change in Government Policy, we were expecting to see more. The oil and industrys estimates show production will continue to decline in the north sea no matter what the Government Policy is it simply because there is not as much gas and oil as 50 years ago when we started extracting. What is left in the north sea is mostly oil. This is mostly exported, so there is little benefit to our bills from more extraction and in a cost of living crisis bills are a strong priority for the public. It is a strange decision to approve more when it wont help with our bills because they cant move the dial on internationally set prices and it
decision to approve more when it won t help with our bills because they can t move the dial on internationally set prices and it will mean oil and gas companies make more money from exporting to the highest bidder. many people will be confused by this given we are told we should be investing in renewables, that some fossilfuels investing in renewables, that some fossil fuels are still subsidised by the uk government, at odds with advice internationally. yet the government says it will plough ahead with licences. absolutely, there is a loophole in the windfall tax where the taxpayer is subsidising more north sea oil extraction of oil and to the tune of 91p back for every £1 they spend. everyone will have seen the huge profits from the companies, and thinking that is not the best approach. there are subsidies which are questionable at the time of heat waves and wildfires in the world.