Some dodgy claims about North Sea oil & gas circulating in the media today, thanks to an open letter co-ordinated by @OEUK_
Two main points I'd like to debunk, nicely summarised by OEUK chief David Whitehouse on @BBCr4today this morning... 🧵
Two main points I'd like to debunk, nicely summarised by OEUK chief David Whitehouse on @BBCr4today this morning... 🧵
"We want to maintain our own energy security by providing our own oil & gas and those very companies are now investing in that broader energy transition." 🤔
1) This suggestion that domestic O&G production contributes to UK energy security is misleading
1) This suggestion that domestic O&G production contributes to UK energy security is misleading
O&G produced in the UK does not belong to the UK, and there is no guarantee it will be consumed here
The UKCS is owned by corporations that sell their O&G on international markets - nothing compels them to keep their O&G in the UK or consumed by the UK.
The UKCS is owned by corporations that sell their O&G on international markets - nothing compels them to keep their O&G in the UK or consumed by the UK.
https://x.com/ECIU_UK/status/1778049071204151662
2) O&G producers are investing in the energy transition?
Not according to the @IEA, who found last year that "oil and gas companies currently account for just 1% of clean energy investment globally – and 60% of that comes from just four companies."
👀
iea.org/news/oil-and-g…
Not according to the @IEA, who found last year that "oil and gas companies currently account for just 1% of clean energy investment globally – and 60% of that comes from just four companies."
👀
iea.org/news/oil-and-g…
Nobody wants to see people lose their jobs, or communities suffer
That's why an honest and supported transition is important
luckily, @RobertGordonUni found "over 90% of UK’s O&G workforce possess skills that have medium to high transferability to offshore renewables sector."
That's why an honest and supported transition is important
luckily, @RobertGordonUni found "over 90% of UK’s O&G workforce possess skills that have medium to high transferability to offshore renewables sector."
The writing's on the wall for the North Sea and the O&G companies that operate there
There's a lot of opportunities for the future workforce, but they're not in oil and gas, they're in renewables
There's a lot of opportunities for the future workforce, but they're not in oil and gas, they're in renewables
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