Just been chatting about Shell & Cambo on BBC Scotland radio. A few things:
1. The campaign isn't over! Shell pulling out of the project puts Cambo's future on the rocks, but we'll keep going until Cambo and ALL new fields are stopped by the government, for good.
2. We need to better distinguish between new projects and the oil & gas in existing fields.
There are 6.5 billion barrels of oil in the UK's 200+ open or approved fields. That's enough to see us through years of the energy transition - stopping new fields is not a rapid end.
3. The arguments that we need Cambo and new fields because we need oil for years to come are therefore bogus! We already have enough, and the govt's climate advisors have said that needing oil in the transition is not a justification for new fields.
4. If the Govt doesn't plan & deliver a fair, managed energy transition then we risk reaching the point of 'deferred collapse' where devastating climate impacts force a very rapid shut down of the industry world-wide - pushing workers out in a short space of time with no support
5. Each new oil & gas project pushes us further towards that scenario, and further from a just transition.
Continued policy support and investment in fossil fuels *slows down* the transition. We know that 3 jobs in clean energy could be created for every oil & gas job at risk.
6. We demand an end to all new oil & gas projects, and a phase out of existing fields. But that must come alongside:
- Rapidly scaling up renewables (pref publicly owned)
- Creating 1000s of good quality green jobs
- Funding & supporting oil &gas workers to move to those jobs
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The climate science has always been clear that there can be no new oil and gas fields if we're to limit warming to 1.5ºC, but today Shell have admitted there's no economic case either.
They also cited the 'potential for delays' - delays caused by the Stop Cambo campaign!
Shell had a 30% stake in the project, but without them the future of Cambo crumbles.
Siccar Point Energy (who have the remaining 70%) will really struggle to get someone to take this on if one of the biggest oil companies in the world doesn't want to be involved!