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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 industry s 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 won t help with our bills because they can t move the dial on internationally ....
and that is what today s announcement is about, making sure that we have future oil and gas licensing rounds, important that we get energy from here at home, that supportsjobs, 200,000 jobs across that industry, particularly in scotland. but we are also announcing today investments in carbon capture and storage and acorn being one of the clusters that has been in reserve, actually, the past period, when you talked about other places, i wouldn t disparage those bids, they were very strong, from the north east of england but also from merseyside. we are adding to those today with two of clusters including one in aberdeenshire. again, that will be great for scottish jobs and help us transition to net zero. straight to westminster. 0ur political correspondent, peter saull, is there for us. the prime minister saying this is about energy security, referencing russia in ukraine, cynics and critics might say this is about an upcoming general election next year. where is the bal ....
when we are at net zero, it is forecast that around a quarter of our energy needs will still come from oil and gas. that s why technologies like carbon capture and storage are important. but what is important is that we get the oil and gas in the best possible way, and that means getting it from here at home. better for our energy security, not relying on foreign dictators. better forjobs, for example 100,000 supported here in scotland. but also, better for the climate because if we are going to need it, it s far better to have it here at home rather than shipping it to from halfway around the world with two, three, four times the amount of carbon emissions versus the oil and gas we have here. so it is entirely consistent with our plans to get to net zero. the prime minister says that you can do both. jess ralston from the energy and climate intelligence unit says that the uk s green commitments are very popular among voters, and that it would make little sense for the ....
as the difficult post covid recovery continues to weigh on demand. so that s the picture on the factory floor when it comes to what consumers are facing when buying goods and services the consumer price index was unchanged year on year, compared with a slight gain in may, the slowest pace since february 2021. the us treasury secretary janet yellen has just left beijing following a four day visit in an attempt to bridge us china trade relations. she told reporters just before leaving china that despite significant disagreements, the relationship between both countries was moving towards a surer footing. my my purpose is to make sure that we do not engage in a series of unintended escalatory actions. that will be harmful to our overall economic relationship. with one another. and we have had very little contact, both senior officials and also just the american people and the chinese people, have had very little contact with one another over the last several years. in ....
offered minister that the government has offered support, but there is disappointment that that support isn t big disappointment that that support isn t big enough to enable a longer transition isn t big enough to enable a longer transition to keep the community alive transition to keep the community alive and transition to keep the community alive and not be devastated by these ob alive and not be devastated by these job cuts alive and not be devastated by these job cuts. we alive and not be devastated by these “ob cuts. ~ to, alive and not be devastated by these “ob cuts. ~ . ., job cuts. we can get away from the fact that demand job cuts. we can get away from the fact that demand for job cuts. we can get away from the fact that demand for steel - job cuts. we can get away from the fact that demand for steel over - job cuts. we can get away from the fact that demand for steel over the i fact that demand for steel over the last say ten years or mor ....