Kemi Badenoch, the leader of the Conservative Party, has made a bold call: if elected, her party plans to roll back all net zero obligations on companies drilling for oil and gas in the North Sea.
In her upcoming speech in Aberdeen this Tuesday, Badenoch is set to officially unveil her plans, which are centered around the idea of “maximizing extraction” and ensuring that “all our oil and gas is drawn from the North Sea”.
It’s worth noting that Reform UK is also pushing for more fossil fuel extraction from these waters.
On the flip side, the current Labour government has taken a strong stance, pledging to prohibit new exploration licenses altogether. According to their spokesperson, adopting a “fair and orderly transition” away from oil and gas would actually stimulate growth.
They warned that exploring new fields would neither reduce energy bills nor bolster energy security and would only serve to exacerbate the already-critical climate crisis.
Earlier this year, Badenoch hinted at a seismic shift in how the Conservatives view climate policy, admitting that reaching net zero seems “impossible” by 2050.
Historically, UK governments have committed to this net zero goal by 2050, an initiative put into law by Theresa May back in 2019. This requires that the UK reduces carbon emissions until it balances out what it produces, staying in line with the 2015 Paris Climate Agreement.
Now, Badenoch claims the push towards net zero poses undue constraints on North Sea oil and gas firms, hurting the economy—a burden she intends to lift.
She insists that a Conservative administration would eliminate the obligations to both reduce emissions and invest in technologies like carbon storage.
Many find it “absurd” that the UK is leaving essential resources untouched while “neighbouring countries like Norway are busy extracting them from the same seabed”.
In 2023, former Prime Minister Rishi Sunak granted 100 new licenses for drilling in these waters, stating that this decision aligned perfectly with the net zero commitments.
Reform UK has announced it would scrap the net zero agenda if they come to power.
The present government, however, asserts that it has made historically significant investments in offshore wind and has initiated the formation of three groundbreaking carbon capture and storage clusters.
These carbon capture facilities are designed to keep carbon dioxide emissions from industrial and power activities from being vented into the atmosphere. They capture the majority of CO2 generated, transporting it for deep underground storage.
This technology is viewed as a vital part of efforts by institutions like the International Energy Agency and the Climate Change Committee, crucial for meeting targets aimed at reducing greenhouse gas emissions that drive alarming climate changes.
