{"id":277613,"date":"2023-09-07T09:04:20","date_gmt":"2023-09-07T07:04:20","guid":{"rendered":"https:\/\/climatescience.press\/?p=277613"},"modified":"2023-09-07T09:04:23","modified_gmt":"2023-09-07T07:04:23","slug":"north-sea-oil-production-falls-at-fastest-pace-in-a-decade-as-labour-fears-deter-investment","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=277613","title":{"rendered":"North Sea oil production falls at fastest pace in a decade as Labour fears deter\u00a0investment"},"content":{"rendered":"\n
\"\"
offshore oil rig at sunset<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

From NOT A LOT OF PEOPLE KNOW THAT<\/a><\/p>\n\n\n\n

By Paul Homewood<\/p>\n\n\n\n

h\/t Robert Christopher<\/p>\n\n\n\n

That worked out well then!<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

North Sea oil production has plunged at its fastest pace in a decade as fears grow over a potential Labour government and Rishi Sunak\u2019s windfall tax deters investment.<\/em><\/p>\n\n\n\n

Crude oil output slumped by 13pc in the first six months of this year compared with the same period in 2022, a report by Offshore Energies UK (OEUK) found.<\/em><\/p>\n\n\n\n

The decline meant oil production fell to a record low of 16.2m tonnes, roughly a quarter of what the UK produced at its peak in 1999.<\/em><\/p>\n\n\n\n

OEUK, which represents 400 oil, gas and wind operators and contractors, said it is the biggest decline since the same period in 2013, when output fell by 13.7pc.<\/em><\/p>\n\n\n\n

Ross Dornan, an author of the OEUK\u2019s annual economic report, said the Government\u2019s windfall tax and the threat of a Labour victory at the next election had seriously destabilised the industry.<\/em><\/p>\n\n\n\n

Sir Keir Starmer has <\/em>pledged to ban all new oil and gas licences under a Labour government<\/em><\/a> as part of his plans to make Britain a \u201cclean energy superpower\u201d.<\/em><\/p>\n\n\n\n

David Whitehouse, chief executive of OEUK, said: \u201cPeople want to see consistency of policy, but it\u2019s clear there is political uncertainty with a general election next year. That is causing uncertainty with investors and that is part of the reason why we are not seeing much investment being unlocked.\u201d<\/em><\/p>\n\n\n\n

https:\/\/www.telegraph.co.uk\/business\/2023\/09\/06\/north-sea-oil-production-falls-at-fastest-pace-in-a-decade\/<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

North Sea oil production has plunged at its fastest pace in a decade as fears grow over a potential Labour government and Rishi Sunak\u2019s windfall tax deters investment.<\/p>\n","protected":false},"author":121246920,"featured_media":277616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691822373,691818610,691822372],"class_list":{"0":"post-277613","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-governments-windfall-tax","9":"tag-north-sea","10":"tag-oil-production","12":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/09\/0a-drilling-rig-in-the-water-with-the-sun-setting-in-the-background.jpg?fit=2121%2C1414&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1adD","jetpack-related-posts":[{"id":299809,"url":"https:\/\/climatescience.press\/?p=299809","url_meta":{"origin":277613,"position":0},"title":"Most North Sea oil and gas projects would be \u2018unviable\u2019 under Labour plans","author":"uwe.roland.gross","date":"04\/02\/2024","format":false,"excerpt":"Three-quarters of all the North Sea\u2019s new oil and gas projects would be rendered\u00a0economically unviable under Labour\u2019s tax proposals, industry chiefs have warned.","rel":"","context":"In \"Labour plans\"","block_context":{"text":"Labour plans","link":"https:\/\/climatescience.press\/?tag=labour-plans"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/0AA1mBbLe.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/0AA1mBbLe.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/0AA1mBbLe.jpeg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/0AA1mBbLe.jpeg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/0AA1mBbLe.jpeg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":209401,"url":"https:\/\/climatescience.press\/?p=209401","url_meta":{"origin":277613,"position":1},"title":"The windfall tax epitomises the Tories\u2019 energy muddle","author":"uwe.roland.gross","date":"20\/07\/2022","format":false,"excerpt":"With\u00a0eleven percent inflation\u00a0on the horizon, the cost of filling a family car\u00a0exceeding \u00a3100, and Ofgem\u2019s price cap set to rise again in October\u00a0to \u00a32,800, former Chancellor Rishi Sunak insisted the Treasury was \u2018using all the tools at [its] disposal to bring inflation down\u2019. But as tax cuts languished untouched on\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/07\/image-201.png?fit=1200%2C632&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/07\/image-201.png?fit=1200%2C632&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/07\/image-201.png?fit=1200%2C632&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/07\/image-201.png?fit=1200%2C632&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/07\/image-201.png?fit=1200%2C632&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":301764,"url":"https:\/\/climatescience.press\/?p=301764","url_meta":{"origin":277613,"position":2},"title":"Labour\u2019s North Sea tax raid will \u2018trash oil and gas production\u2019","author":"uwe.roland.gross","date":"14\/02\/2024","format":false,"excerpt":"Labour\u2019s proposed North Sea tax increases would drive out investment, destroy up to 100,000 jobs and cost the Treasury \u00a320bn in lost revenues, energy experts have warned.","rel":"","context":"In \"Green Prosperity Plan\"","block_context":{"text":"Green Prosperity Plan","link":"https:\/\/climatescience.press\/?tag=green-prosperity-plan"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/0wp1971848.jpg?fit=1200%2C659&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/0wp1971848.jpg?fit=1200%2C659&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/0wp1971848.jpg?fit=1200%2C659&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/0wp1971848.jpg?fit=1200%2C659&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/02\/0wp1971848.jpg?fit=1200%2C659&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":402521,"url":"https:\/\/climatescience.press\/?p=402521","url_meta":{"origin":277613,"position":3},"title":"How Ed Miliband cost Britain one billion barrels of North Sea oil","author":"uwe.roland.gross","date":"16\/09\/2025","format":false,"excerpt":"For Ed Miliband, it\u2019s a truly awkward moment. 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