UK regulators have approved plans for a vast new oilfield in the North Sea 1

Hello again.

Here is an interesting one for you?

UK regulators have approved plans for a vast new oilfield in the North Sea, sparking immediate objections from climate campaigners.

The government welcomed the decision, saying it will raise billions of pounds and “make us more secure against tyrants like Putin”

However, the oil from Rosebank will not be processed on Shetland but offloaded by tanker and sold on the international market.

The project, run by the Norwegian state energy firm Equinor, will create hundreds of jobs and bring in billions of pounds in investment, critics say the biggest winner is Norway.

Labour would not revoke the Rosebank license if the party wins the next general election, we have learned.

This is one truly blatant and rampant lie and spin on words, these idiots really are now taking Orwell’s 1984 as an instruction manual.

How can this possibly “make us more secure against tyrants like Putin”. and come to think of it they sem toy use Putin as an excuse for almost everything nowadays….. I suppose it’s his fault Brexit isn’t working as well as everyone said it wouldn’t….. if this plan is “Taking back Control” then I will eat my hat… If this does go ahead then why not keep it all in the UK as they promised during Brexit, we are actually handing over control not taking it back?

The Green Party called the decision “morally obscene” and a “climate crime” and we tend to agree, why do they have to lie about the security and a more resilient supply, when it will be simply processed abroad and sold on the Open Market…?

Proves that every last thing that exists on earth will if not already has been monetized and used for profits regardless of the outcome.

So…….

If approved, Rosebank will be developed by oil and gas giant Equinor, which is majority-owned by the Norwegian government and holds a 40% stake in the field. (4) Another 40% is owned by Canadian oil giant, Suncor Energy, known for its development of Canada’s dirty tar sands, with Israeli firm Ithaca Energy (Cambo’s new owner) holding a 20% stake.

The UK public would carry almost all the costs of developing Rosebank, while these oil companies take the profits.

Thanks to a huge, new subsidy introduced by the UK government with the windfall tax, the UK public would effectively hand over more than half a billion pounds to Rosebank’s owners to develop the field. (5) That’s over £500 million that is supposed to help people in the UK struggling with unaffordable energy bills. Equinor describes this subsidy as ‘helpful’. (5) If approved, Rosebank will therefore make the UK poorer but the Norwegian state richer. Norway already has a national wealth fund worth trillions built from its oil and gas assets.

Despite this huge taxpayer subsidy, the UK public will see little benefit from Rosebank.

Sources.

https://www.stopcambo.org.uk/

https://www.bbc.com/news/live/uk-66933804

https://www.ft.com/content/a38d62d9-2da0-4af5-8372-b3d63da7b004