A few more things about the #MERUK and Oil and Gas Authority Strategy, before the oil and gas bots get onto it... I compared these word for word, and at the face of it there are a few differences. /I
https://twitter.com/AnneVelenturf/status/1426258640411967491
The strategy's "central obligation" remains that "Relevant persons must, in the exercise of their relevant activities, take the steps necessary to: a) secure that the maximum value of economically recoverable petroleum is recovered from the strata beneath relevant UK waters" /II;
“and, in doing so, b) take appropriate steps to assist the Secretary of State in meeting the #NetZero target, including by reducing as far as reasonable in the circumstances GHG emissions (...) and supporting carbon capture and storage projects” /III
This should be understood as a strategy to maintain a social licence to operate: "to enable maximising economic recovery of petroleum, relevant persons should consider their social licence to operate (...)" /IV
A social licence to operate is essential to attract investment for on-going oil and gas exploration, and the industry has definitely received the memo that this is a big issue /V euractiv.com/section/energy…
The “new” strategy has mixed the chapters and clauses up somewhat, but the contents is largely identical. New subjects include #NetZero, which is interpreted as minimising the climate emissions from extraction, not the use of fossil fuel products; /VI
The reuse of infrastructure, in this context a poorly conceived #CircularEconomy strategy, and also carbon capture and storage and hydrogen. /VII researchgate.net/publication/34…
But the overall purpose stays the same: it is to keep #FossilFuels extraction going for as long as the public and financial markets will allow the industry/ government. 📢📢We MUST stop this and speak out as LOUD as we can!!!📢📢/VIII
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