British domestic energy production potentially putting climate targets at risk

The Prime Minister, Rishi Sunak, has announced plans to grant over 100 new oil and gas licenses for the North Sea and confirmed locations for two new carbon capture usage and storage clusters. This move is aimed at bolstering energy security, creating thousands of skilled jobs, and delivering more affordable, clean energy to British homes and businesses.

The new carbon capture clusters, set to unlock further opportunities for green technologies, are expected to support thousands of jobs and grow the economy. However, the exact locations of these clusters have not been disclosed yet.

Rishi Sunak emphasized the importance of powering up Britain with domestic resources instead of carbon-intensive gas imports. He also highlighted the concern of Putin's manipulation of energy supply, which has been a significant factor in the current cost-of-living crisis. Gas and electricity prices have risen by 36.2% and 17.3% respectively in the year to June 2023, leading to a significant increase in energy bills.

The Labour Party, led by Ed Miliband, the Shadow Climate Change Secretary, has proposed a block on all domestic new oil and gas drilling as part of its strategy to achieve zero-carbon electricity by 2030. Miliband accused Rishi Sunak of lurching towards a 'culture war on climate' to make up for '13 years of failed Tory energy policy.'

The North Sea Transition Authority (NSTA) is currently running the 33rd offshore oil and gas licensing round and expects to award more than 100 new licenses in the autumn. This decision is expected to deepen policy splits between the government and the Labour Party.

Chris Skidmore, a former Tory energy minister, criticized the plan, stating it was 'the wrong decision at precisely the wrong time.' Skidmore has demanded an emergency debate on the matter.

The announced plans also aim to help people heat their homes more efficiently and create 50,000 job roles. Rishi Sunak reiterated his commitment to delivering a net-zero carbon economy and reducing the UK's reliance on foreign gas.

The move to approve new oil and gas licenses and invest in carbon capture clusters is expected to cost billions. The Prime Minister is planning a visit to Aberdeenshire for the announcement, signalling a renewed focus on the energy sector and the UK's efforts to secure its energy future.