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Andy Burnham squirms after being asked about his position on Net Zero and the North Sea. “So if we're going to reindustrialise, I take it then you'll be in favour of opening up the oil and gas reserves,” he’s asked.

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Andy Burnham and his new Energy Secretary said they would be ‘pragmatic’ when it came to the North Sea. But this morning Miatta Fahnbulleh confirmed they will BAN all new oil and gas licences. How is it pragmatic to favour gas from Norway, the US or Qatar over gas from Britain?

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.President Donald J. Trump on U.K. Prime Minister Andy Burnham: "He did say one very good thing. He said he's going to open up North Sea oil. If he does that, you're going to be a wealthy country... I was telling Prime Minister Starmer, 'Open up the North Sea!'"
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.President Donald J. Trump on U.K. Prime Minister Andy Burnham: "He did say one very good thing. He said he's going to open up North Sea oil. If he does that, you're going to be a wealthy country... I was telling Prime Minister Starmer, 'Open up the North Sea!'"

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When asked about oil and gas investments, Carney responds that companies "must have business plans that are consistent with the transition to net zero." Does this sound like someone who is going to build pipelines and develop Canada's oil and gas industry? No. Of course not.

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President Trump on his conversation with Labour's Andy Burnham, "I think he's going to open up the North Sea.. If they open up the North Sea the UK would be rich again" Putting aside environmental issues.. Opening the North Sea to extensive new oil and gas development could generate around £165 billion in additional economic value by 2050, but that is not government revenue. After investment costs, tax allowances, operating expenses and decommissioning relief, the additional tax received by the Treasury would more plausibly be around £20–50 billion in total. Rejoining the EU could eventually restore approximately £45–50 billion a year in tax revenue, based on the OBR’s estimate that Brexit leaves the economy around 4% smaller than it otherwise would have been. Assuming the economic benefits developed gradually after rejoining, this could produce approximately £750–950 billion in additional tax receipts by 2050, or roughly £300–600 billion net after paying EU budget contributions. Therefore, on central estimates, rejoining the EU could deliver around 10–25 times the net Treasury benefit of opening the North Sea. Put simply, additional North Sea production might recover roughly the equivalent of only one year of the tax revenue currently being lost because of Brexit. If the objective is to make the UK rich again, North Sea isn't the way, rejoining the EU is the way
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President Trump on his conversation with Labour's Andy Burnham, "I think he's going to open up the North Sea.. If they open up the North Sea the UK would be rich again" Putting aside environmental issues.. Opening the North Sea to extensive new oil and gas development could generate around £165 billion in additional economic value by 2050, but that is not government revenue. After investment costs, tax allowances, operating expenses and decommissioning relief, the additional tax received by the Treasury would more plausibly be around £20–50 billion in total. Rejoining the EU could eventually restore approximately £45–50 billion a year in tax revenue, based on the OBR’s estimate that Brexit leaves the economy around 4% smaller than it otherwise would have been. Assuming the economic benefits developed gradually after rejoining, this could produce approximately £750–950 billion in additional tax receipts by 2050, or roughly £300–600 billion net after paying EU budget contributions. Therefore, on central estimates, rejoining the EU could deliver around 10–25 times the net Treasury benefit of opening the North Sea. Put simply, additional North Sea production might recover roughly the equivalent of only one year of the tax revenue currently being lost because of Brexit. If the objective is to make the UK rich again, North Sea isn't the way, rejoining the EU is the way

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Following Ed Miliband’s woeful reply about drilling for oil in the North Sea - I asked the Chancellor if she would ‘see sense and overrule Ed Miliband’s decision’ ?
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