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In a bold move, Conservative leader Kemi Badenoch has announced plans to eliminate all net zero requirements for oil and gas companies operating in the North Sea if her party is elected. The decision is part of a strategy focused on maximizing extraction and extracting all oil and gas resources from the North Sea. Badenoch is set to officially unveil this plan during a speech in Aberdeen on Tuesday.
Unlike the Conservative party’s stance, Reform UK has expressed a desire for increased extraction of fossil fuels from the North Sea. Meanwhile, the Labour government has taken a different approach by committing to prohibiting the issuance of new exploration licenses. A government spokesperson emphasized the importance of a “fair and orderly transition” away from oil and gas to stimulate growth.
The government spokesperson also cautioned that exploring new fields would have no impact on reducing energy costs or enhancing energy security. Instead, it would only exacerbate the existing climate crisis. Badenoch’s announcement earlier in the year that achieving net zero emissions by 2050 was deemed “impossible” signified a notable shift in Conservative climate policy.
While previous UK governments have set the target of reaching net zero emissions by 2050, Badenoch believes that such requirements are burdensome to oil and gas producers in the North Sea. She argues that these mandates are detrimental to the economy and should be eliminated. The Tory leader outlined plans to do away with emission reduction obligations and technology developments such as carbon storage. Moreover, Badenoch criticized the UK for not fully utilizing its resources while neighboring countries like Norway have successfully extracted them from the same sea bed
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