Discover and read the best of Twitter Threads about #stoprosebank
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Sunday Times' story on Labour not revoking approval of Rosebank is a non-story: it has always been Labour's position that it won't approve new oil & gas fields once in government; not revoke approvals already given.
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That doesn't change how utterly misconceived it would be for the UK govt to approve Rosebank nor the scale of public opposition @Equinor_UK and Ithaca face: there is overwhelming evidence that new oil & gas fields are incompatible with a safe climate
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Rosebank is also incompatible with the UK oil & gas industry's own emission reduction targets--which, btw, they aren't on track to meet:
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šØBREAKING: New analysis has found that Equinor is set to receive a Ā£3.75 billion tax break if Rosebank is approved.
Instead of supporting the millions of people in the UK struggling to survive, the UK is massively subsidising a new climate wrecking oil field.
#StopRosebank
Instead of supporting the millions of people in the UK struggling to survive, the UK is massively subsidising a new climate wrecking oil field.
#StopRosebank
Thanks to an incredibly generous tax system for fossil fuel companies and the massive loophole for new oil & gas fields in the windfall tax, the UK government now effectively covers 91.4% of the cost of developing new oil & gas fields.
You read that right. More than 90%.
You read that right. More than 90%.
Here's what that looks like for Rosebank:
Equinor has said that developing Rosebank will cost around Ā£4.1 billion.
This means Equinor will get a Ā£3,750,000,000 tax break for going ahead with Rosebank.
Equinor made Ā£62 billion in profit in 2022.
Equinor has said that developing Rosebank will cost around Ā£4.1 billion.
This means Equinor will get a Ā£3,750,000,000 tax break for going ahead with Rosebank.
Equinor made Ā£62 billion in profit in 2022.
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If you represent an organisation concerned about this government's culpable inaction, or insufficient action in addressing the Climate & Ecological Crisis and the Sixth Mass Extinction, please lend your support to this great call for climate/social justice
extinctionrebellion.uk/the-big-one/#iā¦
extinctionrebellion.uk/the-big-one/#iā¦
@threadreaderapp unroll
Right now the UK government is considering approval of @Equinor's Rosebank oil field.
If Rosebank goes ahead, it'll be a disaster for the climate and cost the UK taxpayer billions of pounds.
Here's why we have to stop this oil field...š§µ
theguardian.com/environment/20ā¦
If Rosebank goes ahead, it'll be a disaster for the climate and cost the UK taxpayer billions of pounds.
Here's why we have to stop this oil field...š§µ
theguardian.com/environment/20ā¦
Just burning the oil & gas in existing fields will push us past the limits for a liveable climate.
Scientists have said time & time again (the last time was Monday) that we can't have any new oil & gas fields if we want to limit warming to 1.5C.
This means no Rosebank.
Scientists have said time & time again (the last time was Monday) that we can't have any new oil & gas fields if we want to limit warming to 1.5C.
This means no Rosebank.
Rosebank will be massively subsidised by the UK taxpayer.
Instead of supporting the millions of people in the UK struggling to survive, the UK govt will be effectively handing over billions of pounds to Norwegian oil giant Equinor.
Equinor made Ā£62 billion in profit last year.
Instead of supporting the millions of people in the UK struggling to survive, the UK govt will be effectively handing over billions of pounds to Norwegian oil giant Equinor.
Equinor made Ā£62 billion in profit last year.
Good morning to everyone but @MarkJCarney, UN Envoy on Climate & Finance. Carney is Chair of a company helping to drive forward development of the UK's largest undeveloped oil field, not to mention one of the worst deals the UK govt has ever considered: the Rosebank oil field.
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Carney is Chair (& head of "Transition Investing") of Brookfield Asset Management which owns Altera Infrastructure. Altera owns the Floating Production Storage & Offloading (FPSO) vessel that will be used to process Rosebankās oil. It's a core part of Rosebanks infrastructure
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Carney was questioned about this during a recent UK Parliamentary inquiry into the transition away from oil & gas and got a *little* defensive. He not only mischaracterised & downplayed the FPSO, he also claimed Rosebank is an existing field (at 15:53): parliamentlive.tv/event/index/82ā¦
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šØBREAKING: Norwegian oil giant @Equinor just announced record profits of Ā£62 BILLION for 2022.
That's higher than BP & Shell's profits combined.
While raking in obscene wealth, Equinor & partners are set to receive more than Ā£500 million in tax breaks for developing Rosebank
That's higher than BP & Shell's profits combined.
While raking in obscene wealth, Equinor & partners are set to receive more than Ā£500 million in tax breaks for developing Rosebank
Instead of supporting people struggling to heat their homes, the UK is actually subsidising new oil & gas fields.
Equinor is making more profit than they ever have AND we're giving them tax breaks.
@RishiSunak must get a grip, stop subsidising new oil fields and #StopRosebank.
Equinor is making more profit than they ever have AND we're giving them tax breaks.
@RishiSunak must get a grip, stop subsidising new oil fields and #StopRosebank.
Rosebank is climate-wrecking oil field, subsidised by the UK public, that will do nothing to make our energy secure.
All it will do is create more profit for Equinor while making our future less liveable.
Demand @RishiSunak & @grantshapps #StopRosebank
actionnetwork.org/petitions/stopā¦
All it will do is create more profit for Equinor while making our future less liveable.
Demand @RishiSunak & @grantshapps #StopRosebank
actionnetwork.org/petitions/stopā¦
Tomorrow, Norwegian state-owned oil giant @Equinor is set to announce more profits than BP & Shell COMBINED.
Weāre with @YCCNetwork for a vigil outside the Norwegian embassy, demanding the Norwegian government stop profiting off of climate-wrecking projects like RosebankšÆļø
Weāre with @YCCNetwork for a vigil outside the Norwegian embassy, demanding the Norwegian government stop profiting off of climate-wrecking projects like RosebankšÆļø
The Norwegian govt, as majority owners, bear a huge responsibility over Equinorās actions.
Weāre asking Norway to think again about its support for Rosebank when weāre in the middle of not just a climate crisis but a cost of living crisis driven by burning fossil fuels.
Weāre asking Norway to think again about its support for Rosebank when weāre in the middle of not just a climate crisis but a cost of living crisis driven by burning fossil fuels.
"This is a moral issue, which means faith leaders and campaigners have a crucial role to play in standing up to the companies and politicians who are prepared to sacrifice our collective future while a small number of people profit."
- @CameronConant, @OperationNoah
- @CameronConant, @OperationNoah
