(Bloomberg) – UK Energy Secretary Ed Miliband will soon be asked by oil companies to approve a new field that he’s previously criticized for being “climate vandalism.”
His pending decision on the Rosebank site developed by Shell Plc and Equinor ASA underscores the potentially conflicting goals of the government to drive economic growth while simultaneously reducing the emissions that contribute to global warming.
A court ruled last month the companies need to reapply for environmental permits because the prior approvals failed to consider the impact of burning oil and gas from the fields. Once the companies do that, following the publication of new government guidance on emissions, the final decision is Miliband’s.
“The growth agenda and the net zero agenda are absolutely aligned because the biggest economic opportunity of the 21st century is in clean energy,” Miliband said Friday during a BBC radio interview.
Miliband criticized the project on social media in March 2023, calling it a “colossal waste of taxpayer money and climate vandalism.” He said Friday there’s a difference between being in government and being in the opposition.
“I have different responsibilities as Secretary of State than I had when I was an opposition spokesperson,” Miliband said. “We’re going to design a fair and objective process and all proposals will be considered under that process.”
Prime Minister Keir Starmer indicated Thursday the government wouldn’t block the projects, saying the government won’t interfere with exploration licenses already granted.
Equinor says the project would attract £6.6 billion ($8.2 billion) of direct investment to the UK and create 2,000 jobs during development, as well as 525 full-time jobs during the field’s lifetime.
This article was originally posted at www.worldoil.com
Be the first to comment