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
Miatta Fahnbulleh, appointed as Andy Burnham’s Secretary of State for Energy Security and Net Zero, has a family history intertwined with radical politics and government upheavals in her native Liberia.PULSE POINTS WHAT HAPPENED: Former asylum seeker Miatta Fahnbulleh has been appointed as Secretary of State for Energy Security and Net Zero by newly installed British […]
Miatta Fahnbulleh, appointed as Andy Burnham’s Secretary of State for Energy Security and Net Zero, has a family history intertwined with radical politics and government upheavals in her native Liberia. PULSE POINTS WHAT HAPPENED: Former asylum seeker Miatta Fahnbulleh has been appointed as Secretary of State for Energy Security and Net Zero by newly installed British Prime Minister Andy Burnham, drawing attention to her family’s controversial past in Liberia. DETAIL: Fahnbulleh’s family , known as “Vai aristocrats,” were involved in multiple government overthrow attempts in Liberia, fleeing to Britain in the 1980s. Her father, Henry Boimah Fahnbulleh Jr., served as foreign minister under Liberia’s former dictator Samuel Doe,…Open
Higher oil prices since the Iran war began mean many oil companies have brought in excess profits. Some U.S. lawmakers want to tax those windfall profits and give the money to lower-income Americans.
With President Trump's proposal to suspend the gas tax facing headwinds on Capitol Hill, some Democratic lawmakers are offering alternative approaches to get fuel costs under control. Why it matters: This goes beyond a simple debate about gas prices and taps into fundamental disagreements between the two parties about which parts of society should shoulder the costs of war and inflation. - Trump wants to relieve consumers' tax burden by cutting revenue to the federal government. Democrats want to redistribute any corporate profits made off the conflict in Iran. - A bill set to be introduced by Rep. Brad Sherman (D-Calif.), for instance, would tax oil companies for any profits derived from selling oil at a cost of greater than $75 per…
European nations imposed temporary taxes in the 2022 energy shock when Russia invaded Ukraine, but whether they can effectively help households is up for debate.
Great Britain should be a virtual energy superpower. It is an island with prodigious reserves of energy, both carbon-based and renewable. The North Sea oil and gas fields may be in decline, but there are still around 14 billion barrels of the black stuff lurking under the waves, and new discoveries are being made every […] The post British Energy Policy’s Suicidal Empathy appeared first on The American Conservative .
UK Special Coverage British Energy Policy’s Suicidal Empathy The UK could be an energy superpower. Why isn’t it? UK Special Coverage Credit: Neil Michael Great Britain should be a virtual energy superpower. It is an island with prodigious reserves of energy, both carbon-based and renewable. The North Sea oil and gas fields may be in decline, but there are still around 14 billion barrels of the black stuff lurking under the waves, and new discoveries are being made every year. Windy Britain also boasts 42 percent of Europe’s offshore wind capacity. And of course the UK is sitting on vast reserves of shale…Open