joins me now, head of autos and infrastructure at fitch solutions. good morning to you. so, this has literallyjust come out, hasn t it? what do you make of this plan? it hasn t it? what do you make of this plan? this plan? it really appears to be future this plan? it really appears to be future proofing this plan? it really appears to be future proofing the - this plan? it really appears to | be future proofing the industry for this shift to evs which is already the fastest growing segment in the market, and that brings with it big changes to the manufacturing side of the industry. we have been looking at something similar ourselves and what will be the megatrends in the industry to 2050 and one of those is automation because evs are particularly well suited by manner of having fewer parts to more automated manufacturing and it has an impact on the skill sets that are required for manufacturing. but notjust are required for manufacturing. but not just the are required fo
We are standing on the platform which employs 150 people, that are producing oil that which employs 150 people, that are producing oil that is which employs 150 people, that are producing oil that is going to the uk four households, providing energy for the industry, ultimately energy security. without additional licenses, it will be very difficult for the uk to produce its own energy which ultimately means the uk will need to import energy from abroad. he said he would honour licenses granted up till now, which includes things like him in rosebank, they have bent over backwards to try to accommodate the oil industry? bur; backwards to try to accommodate the oil industry? the oil industry? buy a new government the oil industry? buy a new government imagine - the oil industry? buy a new government imagine they l the oil industry? buy a new i government imagine they can stop all licenses and oil development in the uk, that means they will be starving the uk for energy in the uk will be
Naming the us, but saying that reductionism is on the rise, and some countries efforts to decouple or de risk its relationship with china, meaning loosing reducing their reliance on china, is what he called a false proposition. no major surprises. he said he expects the economy to grow at about 5% which is in line with the official data. which is in line with the official data. ., ,, , ., official data. 0k, thank you. worked to one of the problems facing the transition transition to a greener future now. as one of the uk s biggest oil and gas operators says, the uncertainty around the future of north sea production is putting off investors. ithaca energy holds stakes in rosebank and cambo, two of the biggest undeveloped oil and gas fields in the uk, but they have warned that any ban on future licenses could starve the uk of energy. ithaca s chairman, gilad myerson, has been speaking to our business editor, simonjack.
Lasting for ten years. without that stable regime investors will not want to invest, banks will not want to invest, banks will not want to invest, banks will not be wanting to provide credit and the industry will not be able to commit to large scale projects. it is difficult to invest all that money in the uk and consider investing in other jurisdictions which are much more supportive to oil and gas. people have referred to the new oil fields campus carbon bonds we cannot afford to extract that and hit our carbon targets? that and hit our carbon taraets? ., .,, ,, targets? him and rosebank will be state facilities targets? him and rosebank will be state facilities and be state facilities and production between five and ten kilograms of co2 a barrel, looking at most of the platforms around us we produce at around 20 kilograms of co2 a barrel less than how come you talk about importing oil from abroad that is even more. if you are a true environmentalist rosebank will be providing b
On the international market, it will not increase our energy security or breakdown prices. most of the hydrocarbons in the uk are developed and produced for the uk market, at times some of the oil will go to refineries abroad but it will find its way back to the uk. how attractive is investment in the uk right now? that how attractive is investment in the uk right now? how attractive is investment in the uk right now? at the moment it is not a jurisdiction the uk right now? at the moment it is not a jurisdiction which - it is not a jurisdiction which is attracting investment, most money is going elsewhere. the taxation regime is changing constantly and it is very difficult to invest huge amounts of capital when you do not know what type of return we will be getting. also, the politicians keep on making statements, which spook investors. they are saying that they do want hydrocarbons then they do want hydrocarbons then they say they don t, they talk about different types of alternati