Connect with us

Hi, what are you looking for?

Right Decision NowRight Decision Now

Business

Tories pledge to scrap net zero rules and extract “all oil and gas” from North Sea

The UK Export Finance (UKEF) and Nippon Export and Investment Insurance (NEXI) MoU sets out revised terms of cooperation which support ambitions for sustainable development outlined in the Hiroshima Accord, G7 Partnership for Global Infrastructure Investment (PGII) and UN Sustainable Development Goals.

Kemi Badenoch has pledged that a Conservative government would strip out all net zero requirements for North Sea oil and gas operators and focus solely on “maximising extraction” of fossil fuels.

In a speech in Aberdeen on Tuesday, the Tory leader is expected to promise that her party will “get all our oil and gas out of the North Sea”, dismissing emissions reduction rules as a burden on producers that drive up household bills.

“The UK is leaving vital resources untapped while neighbours like Norway extract them from the same seabed,” Badenoch said, adding that it was “absurd” to restrict drilling in pursuit of net zero targets.

A dramatic policy shift

The plan represents a major reversal of Conservative climate policy. In 2019 Theresa May’s government enshrined the 2050 net zero target in law, aligning the UK with the Paris Agreement’s goal of limiting global temperature rises to well below 2C.

But Badenoch has argued that hitting net zero by 2050 is “impossible” and said she would scrap obligations for oil and gas firms to cut emissions or invest in carbon capture. The approach echoes Donald Trump’s “drill, baby, drill” stance in the US and diverges sharply from the Biden administration’s clean energy subsidies.

It also puts the Conservatives at odds with the Labour government, which has committed to banning new exploration licences. A government spokesperson said: “Exploring new fields will not take a penny off bills or improve energy security, but it will accelerate the worsening climate crisis.”

Industry and political reaction

The pledge has divided opinion. Trade body Offshore Energies UK said producing oil and gas domestically was vital while the country still relied on fossil fuels. Chief executive David Whitehouse said: “The choice is clear — do we prioritise our homegrown energy or sacrifice jobs to rely on imports? While we use oil and gas, let us produce it here responsibly, alongside an accelerated rollout of renewables.”

However, environmental groups and opposition parties condemned the plan. Tessa Khan of campaign group Uplift called it “reckless” and warned it would mean “more emissions, more environmental harm and more handouts to oil and gas giants at the nation’s expense”.

Liberal Democrat environment spokesperson Tim Farron branded the move “irresponsible environmental vandalism”, while Green MP Ellie Chowns said: “The best option for British jobs and growth is investment in green industries, not clinging to the technology of the 20th century.”

The bigger picture

Scientists have warned that 2024 was the first year global average temperatures exceeded 1.5C above pre-industrial levels — the Paris Agreement’s lower threshold — making it the hottest year since records began.

The Scottish government has also urged caution. Gillian Martin, Scotland’s energy secretary, said the North Sea basin was “maturing” and that a “responsible approach” required planning for a transition to new fuels while protecting the North East’s skilled workforce.

The current Labour government points to “the biggest ever investment in offshore wind and three carbon capture and storage clusters” as evidence of its commitment to both energy security and climate goals.

With energy security and climate policy set to be flashpoints in the next election, Badenoch’s pledge underlines the Conservatives’ strategy to position themselves as the party of fossil fuel expansion — even as global pressure mounts to accelerate the shift to renewables.

Read more:
Tories pledge to scrap net zero rules and extract “all oil and gas” from North Sea

    You May Also Like

    Stocks

    The market sell-off continued in earnest after a brief respite on Friday. Uncertainty of geopolitical tensions and tariff talk has spooked the market and...

    World News

    SEOUL – South Korea’s Constitutional Court will begin on Monday reviewing the impeachment of President Yoon Suk Yeol over his Dec. 3 martial law attempt, while investigators said...

    World News

    WASHINGTON – Federal workers faced fresh uncertainty about their futures on Tuesday after Elon Musk gave them “another chance” to respond to his ultimatum that they...

    World News

    BRASILIA – Brazil Prosecutor General Paulo Gonet decided not to charge former President Jair Bolsonaro with fraud in his vaccination records, asking the Supreme Court to...

    Disclaimer: rightdecisionnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 rightdecisionnow.com | All Rights Reserved