Britain's North Sea oil and gas sector is set to lose over 100,000 jobs, according to new data from Britain's Department for Energy Security and Net Zero.
The governing Labour Party’s ban on new oil and gas exploration licenses and continued windfall taxes are projected to decimate the workforce of Britain’s North Sea oil and gas sector. PULSE POINTS WHAT HAPPENED: Britain’s North Sea oil and gas sector is set to lose over 100,000 jobs, according to new data from Britain’s Department for Energy Security and Net Zero. DETAIL: According to data from the Department for Energy Security and Net Zero (DESNZ), Britain’s North Sea oil and gas sector will lose more than 113,000 positions over the next 25 years. This constitutes an 82.7 percent collapse in the workforce. The collapse stems from the governing Labour Party’s energy policies, such as the ban on new oil and gas…Open
A new analysis highlights how soaring energy costs and policies prioritizing renewables are contributing to Britain's economic stagnation and deindustrialization.
A new analysis highlights how soaring energy costs and policies prioritizing so-called renewables are contributing to Britain’s economic stagnation and deindustrialization. PULSE POINTS WHAT HAPPENED: Britain is on a “path to impoverishment” as soaring energy costs and declining consumption threaten to drive deindustrialization and economic stagnation, according to a new report from the Institute of Economic Affairs. Britain now has the highest industrial electricity prices in the developed world, while overall energy consumption has fallen 29.2 percent since its 2005 peak and industrial use has plunged 45.3 percent since 2004. DETAIL: The report found that Britain uses roughly half as much energy per person as the average…Open
British Prime Minister Andy Burnham has delayed making a decision North Sea oil drilling, citing potential backlash from Labour Members of Parliament (MPs) and supposed bad "optics" amid wildfires.
Prime Minister of the United Kingdom Andy Burnham is expected to delay any final decisions on two key North Sea oil and gas projects. PULSE POINTS WHAT HAPPENED: British Prime Minister Andy Burnham has delayed making a decision North Sea oil and gas drilling, citing potential backlash from Labour Members of Parliament (MPs) and supposedly bad “optics” amid wildfires. Notably, President Donald J. Trump has repeatedly urged Burnham and his predecessor, Sir Keir Starmer, to reopen the North Sea, most recently on Monday, saying it would “make the UK rich again” and resolve the country’s issues with fragile energy security and high prices. DETAIL: The Prime Minister has delayed making a decision on Rosebank and Jackdaw, two North…Open
BP's decision to sell its North Sea oil business underlines concerns over British energy policy and its impact on investment and jobs.
BP’s decision to sell its North Sea oil business underlines concerns over British energy policy and its impact on investment and jobs . PULSE POINTS WHAT HAPPENED: BP has announced plans to sell its North Sea oil business, which includes five production hubs and employs approximately 1,100 people. The company stated this decision aligns with its broader strategy to streamline operations and focus on higher-value opportunities, against a backdrop of punitive climate regulations and windfall taxes on the sector imposed the incumbent Labour and prior Conservative governments. DETAIL: BP’s North Sea assets, including Glen Lyon, Clair, and Clair Ridge, have been central to the British energy system for decades. However, political…Open
The new prime minister’s foreign secretary pick is a vocal critic of the president and an opponent of many of Trump’s preferred policies. The post Burnham Sets a Collision Course With Trump appeared first on The American Conservative .
UK Special Coverage Burnham Sets a Collision Course With Trump The new prime minister’s foreign secretary pick is a vocal critic of the president and an opponent of many of Trump’s preferred policies. UK Special Coverage Photo by Dan Kitwood/Getty Images At a time when the so-called special relationship with the United States is under greater strain than at any time in the last 70 years, Prime Minister Andy Burnham’s appointment of the left-wing former Labour leader Ed Miliband as British foreign secretary could hardly be more provocative. The former energy and net zero secretary has expressed outright…Open
The new prime minister has yet to show much cause for hope amid the UK’s fiscal spiral. The post Burnham Starts Premiership Short on Cash, Ideas appeared first on The American Conservative .
UK Special Coverage Burnham Starts Premiership Short on Cash, Ideas The new prime minister has yet to show much cause for hope amid the UK’s fiscal spiral. UK Special Coverage (Carl Court/Getty Images) Britain’s latest prime minister, the seventh in 10 years, registered his first policy failure even before he took office. Andy Burnham’s only concrete pledge on the doorstep of Number 10 this morning was to end rough sleeping in Britain. It didn’t take long for journalists to discover that he had failed in a similar promise when he became mayor of Greater Manchester. Indeed, rough sleeping roughly doubled…Open
The U.S. Ambassador to the United Kingdom has called on the country's new Prime Minister to prioritize defense spending, particularly on the AUKUS submarine program, and energy security.
The U.S. Ambassador to the United Kingdom has called on the country’s new Prime Minister to prioritize defense spending, particularly on the AUKUS submarine program, and energy security . PULSE POINTS WHAT HAPPENED: U.S. Ambassador to the United Kingdom Warren Stephens urged newly-installed British Prime Minister Andy Burnham to prioritize funding for the AUKUS nuclear submarine program, a trilateral defense initiative between the United States, the United Kingdom, and Australia. Stephens emphasized the importance of sustained investments to transform alliances into effective security measures, particularly in the Asia-Pacific region. Meanwhile, President Donald J. Trump once again called on Britain to reopen the North Sea to oil and…Open