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Tessa Khan Profile picture
@tessakhan
Jun 18 • 5 tweets • 2 min read Twitter logo Read on Twitter
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.
/1
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

/2
Rosebank is also incompatible with the UK oil & gas industry's own emission reduction targets--which, btw, they aren't on track to meet:

/3
It's also a disastrous economic proposition for the UK and would involve a £3.75 billion tax break for the developers, who you might have noticed are doing rather well for themselves off the back of our soaring energy bills.
/4
Finally, 80% of oil produced in the UK is exported so does nothing for our energy security, let alone energy affordability, AND UK oil production is more emissions-intense the majority of its counterparts so ignore arguments about displacing dirtier imports.
#StopRosebank
END

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More from @tessakhan

Tessa Khan Profile picture
Jun 12
New research from @UCL_Energy shows that the UK's energy system could be almost entirely fossil fuel-free by 2045, limiting the country’s exposure to volatile global markets and boosting energy security.

🧵 with a summary of their findings:
A genuinely energy-independent future for the UK is one where the fossil fuel dependence of the whole energy system is as low as possible. The research comprehensively shows no need to trade off sustainability, reliability and affordability. Decarbonisation = energy security
/2
The research takes a range of policy levers (eg heat pumps, zero-carbon power, EVs) and models deployment across 3 scenarios of varying ambition, ranging from 'Emerging', the lowest-ambition scenario based on current UK gov policy, to 'Secure' which ratchets up the ambition.
/3
Read 8 tweets
Tessa Khan Profile picture
May 11
Equinor & its friends in the UK govt often say how clean an oil field like Rosebank will be relative to other oil & gas fields.
Leaving aside the absurdity of focusing on the impact of extracting rather than burning Rosebank's O&G, here's the truth: 🧵
/1
standard.co.uk/business/busin…
1st, the CO2 intensity of Rosebank's oil & gas isn't even going to be low enough to meet the weak (according to the Climate Change Committee) targets in the North Sea Transition Deal, based on NSTD 2030 target for CO2 intensity compared to Rosebank's CO2 intensity projections.
/2
2nd, it will also be more carbon intensive than production in Norway, UAE, Qatar etc. The UK is in the BOTTOM half of the global league table in terms of how clean its O&G production is--so let's stop talking about how much cleaner our oil & gas is than other countries.
/3 Image
Read 5 tweets
Tessa Khan Profile picture
May 10
Lots to agree with in this @newscientist piece, including the value of a @fossiltreaty.
But let's be clear that the UK gov't absolutely *does* have the power to reject the Rosebank oil field and there's nothing stopping them from exercising that power.
newscientist.com/article/mg2583…
The Energy Charter Treaty, for all its flaws, doesn't constrain the govt from rejecting Rosebank or Cambo. While the licence for exploring for Rosebank’s oil was issued in 2001, the licence-holders aren't permitted to extract that oil until they receive a development permit.
/2
They can only get a permit after the field passes several regulatory hurdles, including an environmental impact assessment. If it fails to surmount these, the field will be rejected (as other oil and gas fields have in the past) without triggering liability under the ECT.
/3
Read 6 tweets
Tessa Khan Profile picture
Mar 3
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.
🧵
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 Rosebank’s oil. It's a core part of Rosebanks infrastructure
/2
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/82…
/3
Read 8 tweets
Tessa Khan Profile picture
Feb 7
Lots of headlines about BP this morning, but worth focusing on the fact that BP has dropped its 2030 goal of cutting oil & gas production from 40% to just 25%, 10% of which will come from its divestment from Rosneft. BP also decreased its 'low carbon spend' from 2021 to 2022.
/1
Despite loopholes in the 40% target that @PriceofOil pointed out, it was celebrated at the time as evidence that the industry can be trusted to drive the energy transition. Today is an unequivocal reminder that this is an industry driven by profit & clinging to incumbency.
/2
It's also unsurprising given BP's shareholders overwhelmingly voted last year against Paris-aligned climate targets; and who can blame them when BP's just announced £13 bn in dividends and share buybacks?
/3
Read 6 tweets
Tessa Khan Profile picture
Oct 4, 2022
Not content with an embarrassingly weak windfall tax (the Shell CEO is the latest to suggest taxing them more in a social crisis might be a good idea), the UK govt is now hell-bent on rolling over completely for the O&G industry. THREAD
theguardian.com/politics/2022/…
/1
This isn't just about trying to evade scrutiny of new fracking projects (bad enough) but about ditching regulation of the whole North Sea basin. These regulations are there to protect our interests incl. the public purse, oil & gas workers, the marine environment, the climate.
/2
The idea of streamlining requirements from the Health & Safety Executive is quite literally playing with fire. Given the world's worst ever offshore disaster, Piper Alpha, was here in the UK, the stakes could not be higher.
/3
Read 10 tweets

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