The Treasury faces a £13 billion hit from Labour’s 'green' North Sea shutdown, BP’s former finance chief has warned.
The post North Sea Shutdown to Cost Treasury Billions appeared first on The Daily Sceptic.
London mayor points to ‘terrifying scenes’ this summer amid speculation Burnham may back Jackdaw and Rosebank projects
Sadiq Khan has called on the government to commit to revamped climate action and to reduce the UK’s reliance on oil and gas, as the UK endures a summer of drought, wildfires and heatwaves.
Writing in the Guardian, the mayor of London said that Andy Burnham’s administration must reaffirm its commitment to net zero and make clear it will continue to reduce the UK’s reliance on oil and gas “to get Britain back on track.”
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© Photograph: Yui Mok/PA
© Photograph: Yui Mok/PA
© Photograph: Yui Mok/PA
Iran conflict windfall over three months reignites calls for companies ‘cashing in on human misery’ to pay for environmental damage
Eight of the biggest oil companies amassed profits of more than $90bn (£67bn) in just three months as the Iran conflict sent energy prices soaring and the emissions-fuelled climate crisis caused deadly heatwaves.
The windfall war profits have reignited calls for oil and gas supermajors such as Saudi Aramco and BP to pay for the environmental damage caused by “cashing in on human misery” and fund a rapid transition to renewable energy.
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© Composite: Guardian Design/Reuters/EPA/AP/Getty Images/ZUMA Press Wire/Shutterstock
© Composite: Guardian Design/Reuters/EPA/AP/Getty Images/ZUMA Press Wire/Shutterstock
© Composite: Guardian Design/Reuters/EPA/AP/Getty Images/ZUMA Press Wire/Shutterstock
John Barstow says oil expansion is a necessity, while David Parker wonders if the prime minister will protect the planet or the fossil fuel industry
North Sea oil expansion is a necessity (Burnham risks first revolt as PM over apparent support for North Sea drilling, 31 July). I state this as an environmentalist – not despite. Oil is a feedstock, not mere fuel. Oil is necessary for the day-to-day maintenance of wind turbines, nuclear plants and rail. Hence oil is part and parcel of supply chains for green tech. A domestic oil base brings such supply chains closer. This also underscores the case for approval of coking coal extraction in Cumbria. Green tech needs high-grade steel and high-grade steel needs coking coal.
There are much better ways of helping the environment, such as more tree planting and stopping plastic waste being dumped into our seas. The carbon sink factor would be helped. A major expansion of the UK’s North Sea oil sector will make a more cohesive UK, complete with more jobs in Scotland and the north of England, including in supply manufacturing chains.
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© Photograph: Martin Langer/Alamy
© Photograph: Martin Langer/Alamy
© Photograph: Martin Langer/Alamy
Labour MPs fear No 10 team lack up-to-date energy insight and don’t fully recognise voters’ climate concerns
Andy Burnham was told he could face the first revolt of his premiership as Labour MPs and climate experts condemned his apparent support for renewed drilling for oil and gas.
As the UK suffers through drought, fires and heatwaves, the prime minister gave the strongest indication yet on Friday he was minded to allow new drilling. His comments came just hours before the UN secretary-general warned “every new fossil fuel project” made heatwaves more dangerous.
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© Photograph: Annabel Lee-Ellis/PA
© Photograph: Annabel Lee-Ellis/PA
© Photograph: Annabel Lee-Ellis/PA
Live, rolling coverage as London’s biggest companies defy Middle East disruption and UK petrol prices rise to around £1.60 per litre, the highest since Donald Trump ordered renewed strikes
The story piquing the interest of the financial press this morning is that of Leopold Aschenbrenner, the AI Wunderkind (he’s German-born) who has been forced to sell off his fund in a fire sale after the AI boom ran out of steam.
The 24-year-old had persuaded a lot of people to give him a lot of money for a hedge fund, after previously working for OpenAI and the FTX Future Fund, a charitable arm of the fraudulent crypto empire of Sam Bankman-Fried, who is now in prison. Aschenbrenner ploughed that money into debt-fuelled bets on artificial intelligence companies, earning huge returns until he found out that stocks can also fall.
The trader dubbed the “Nostradamus of AI” would have been hard-pressed to foresee how quickly his high-flying hedge fund would run into trouble.
The firm’s rapid downward spiral is a familiar tale, as Silicon Valley and Wall Street once again threw their weight behind a bright-eyed but untested investor who promised this time would be different. “Everybody always wants to find the next golden child,” said one longtime hedge fund executive. “It just keeps happening.”
In less than 24 hours — which included a conversation between Griffin and Aschenbrenner — Griffin’s Citadel hedge fund reached out to Situational Awareness and snapped up the investments at a discount, according to a person familiar with the matter who asked not to be identified citing private information.
It was a startling reversal for Aschenbrenner, a former researcher at OpenAI who – before starting his hedge fund roughly two years ago — had no previous investment experience. His fledging firm has watched its assets plunge from $45bn at the start of July to about $10bn.
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© Photograph: Tolga Akmen/EPA
© Photograph: Tolga Akmen/EPA
© Photograph: Tolga Akmen/EPA
The world has found ways to adapt without crude from the Strait of Hormuz. Experts say that won’t last.Satellite images have revealed new damage to Amazon data centers in the Middle East along with at least one crucial Saudi oil facility, following missile and drone attacks by Iran and its Houthi allies.
The images from Europe’s Copernicus Sentinel-2 satellites provide evidence of a widening war as the United States and several Gulf states exchange military strikes with Iran, the Houthi faction in Yemen, and Iran-backed militias in Iraq. Such satellite images also offer independent verification of claimed war damage, despite the US government having pressured US commercial firms and even Europe to restrict satellite imagery of the region.
Three Amazon data centers in the United Arab Emirates and Bahrain were already previously damaged by Iranian drone strikes on March 1. Those earlier attacks stuck Amazon with months of expected repairs and forced Amazon Web Services customers in the Middle East to migrate workloads to other cloud regions.
© Samuel Boivin/NurPhoto via Getty Images
PM tells reporters the government cannot ignore the energy resource ‘when people are struggling’
Andy Burnham has said he will take a “pragmatic” approach to oil and gas drilling in the North Sea, saying the government could not ignore the potential energy resources it holds.
The prime minister’s comments came in response to a question about his conversation with Donald Trump on his first day in No 10. Trump had said Burnham told him he would “open up” North Sea oil, something the UK summary of the call made no mention of.
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© Photograph: Kirsty Wigglesworth/Reuters
© Photograph: Kirsty Wigglesworth/Reuters
© Photograph: Kirsty Wigglesworth/Reuters
Environmentalists renew calls for windfall tax to support households after Q2 earnings rise to almost $10bn
Shell has posted its second highest quarterly earnings on record as the energy market surge caused by the Middle East crisis helped to double its net profit to almost $10bn in the three months to June.
Europe’s biggest oil and gas company reported a quarterly profit of $9.8bn (£7.4bn), more than double the figure for the second quarter last year and the highest since its record-high earnings in the months after Russia’s invasion of Ukraine.
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© Photograph: Yui Mok/PA
© Photograph: Yui Mok/PA
© Photograph: Yui Mok/PA
A new look at more than two decades’ worth of archival data from NASA’s Spirit mission suggests that the Martian soil may hold iron-bearing minerals -- hematite and altered magnetite -- that were too faint for scientists to detect in real time during the mission.
The post Hidden Clues in Spirit Rover Data Suggest Mars Once Had Far More Water than Scientists Realized appeared first on Sci.News: Breaking Science News.
A feasibility study for the Western Australian project will show the project is uneconomic and requires government subsidies, experts say
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Leading Australian climate policy experts say a new oil refinery in Western Australia would be an investment in “dinosaur technology” that would require public subsidy and do little to solve the country’s fuel security.
The Albanese government announced a $4m early-stage feasibility study with the WA government for a new oil refinery in the Pilbara region on Tuesday, but experts said the money would be better spent on green technology to reduce Australia’s reliance on fossil fuels.
Experts told Guardian Australia doing the feasibility study was not a bad idea, but would ultimately show the project would be uneconomic and would require government subsidies.
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© Photograph: Darren England/AAP
© Photograph: Darren England/AAP
© Photograph: Darren England/AAP
Exclusive: Blunder at Rosebank, UK’s biggest undeveloped oilfield, comes as government considers granting licence
Production at Britain’s biggest undeveloped oil and gasfield could be delayed for months after equipment from a rig was accidentally dropped in the North Sea, the Guardian can reveal.
Andy Burnham’s new government is under pressure from the fossil fuel industry to allow oil to be retrieved from the Rosebank site despite opposition from climate campaigners and some Labour MPs.
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© Photograph: Martin Langer/Alamy
© Photograph: Martin Langer/Alamy
© Photograph: Martin Langer/Alamy
Diplomats say de-escalation talks continue as Trump vows retaliation over US soldier deaths
The US military said it has launched its 10th consecutive round of strikes on Iran to force the reopening of the strait of Hormuz.
Earlier on Monday, Iran’s president said the country is in a “full-scale war” after the US expanded its aerial campaign and Tehran struck Washington’s Gulf allies, even as diplomats said talks to de-escalate were continuing.
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© Photograph: US Central Command (CENTCOM)/AFP/Getty Images
© Photograph: US Central Command (CENTCOM)/AFP/Getty Images
© Photograph: US Central Command (CENTCOM)/AFP/Getty Images
Party manifesto pledged to honour existing North Sea exploration licences but not issue new ones
Andy Burnham risks his first confrontation with Labour MPs if he announces new oil and gas drilling licences when he becomes prime minister, insiders have warned.
Speculation is rife that Burnham will unveil fresh plans for drilling in the North Sea after he is installed in Downing Street.
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© Photograph: Jack Taylor/Reuters
© Photograph: Jack Taylor/Reuters
© Photograph: Jack Taylor/Reuters
Campaigners say field will bring minimal benefit for UK economy, as industry lobbies Burnham for go-ahead
More people can fit on to the top deck of a standard London bus than will be directly employed on the new Jackdaw gasfield in the North Sea, industry documents show.
Only 27 direct full-time jobs would be created by Jackdaw, one of the biggest gasfields remaining in the North Sea, according to an environmental impact assessment filed publicly by its owner, Adura, a joint venture between Shell and Norway’s Equinor.
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© Photograph: Vuk Valcic/ZUMA Press Wire/Shutterstock
© Photograph: Vuk Valcic/ZUMA Press Wire/Shutterstock
© Photograph: Vuk Valcic/ZUMA Press Wire/Shutterstock
Lobby appeals to prospective PM’s reindustrialisation agenda as it pushes for Rosebank and Jackdaw approval
The UK’s North Sea oil industry has made a last-ditch attempt to curry favour with the Labour government by appealing to Andy Burnham’s reindustrialisation agenda just days before he is expected to become Britain’s next prime minister.
Industry lobbyists have written to more than 400 Labour MPs to call on the government’s new leaders to allow more oil and gas drilling in UK waters to support homegrown energy and show “a commitment to UK manufacturing, industrial capability and the skilled workforce that has powered the nation for generations”.
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© Photograph: Rick Wood Photography/Alamy
© Photograph: Rick Wood Photography/Alamy
© Photograph: Rick Wood Photography/Alamy
Salty soil, one of the greatest threats to agriculture, may have a new remedy in the form of naturally occurring soil bacteria that allow plants to thrive under harsh conditions.
An international team led by Dr. Yanfen Zheng at the Chinese Academy of Agricultural Sciences presented their findings on increasing plant survivability in inhospitable environments in a recent paper published in Science Advances.
In their research, the international team demonstrated that maize, tomato, and rapeseed thrived in soil that would typically be unusable due to a previously unknown mechanism in these microbes, in a breakthrough for agriculture.
“The build-up of salt in farmland is a major and worsening problem – driven by climate change, irrigation and rising sea levels,” said co-author Prof Jonathan Todd, from the University of East Anglia’s School of Biological Sciences and the Quadram Institute on the Norwich Research Park. “Salt chokes plant growth, damages roots, and severely impacts entire harvests – putting global food supplies at risk.”
Agricultural scientists have long known that root microbiomes, the community of microbes living among a plant’s roots, are important for dealing with environmental stresses, yet they remained uncertain of the mechanics involved.
“We found that plants appear to recruit beneficial bacteria in salty soil conditions, which in turn trigger internal changes that strengthen their physical structure and resilience,” Todd continued. “If scientists can harness this natural process, it could mark the beginning of a new era in climate-resilient agriculture.”
The international team examined a variety of plant root microbiomes across different soil types and plant species, identifying pseudomonads, a type of naturally occurring soil bacterium, that are drawn to the roots of maize, tomato, and rapeseed in heavily salted environments. By noting the commonality of high salt content across a variety of crops, the researchers concluded that this was more than a mere coincidence and decided to analyze the genetic mechanisms behind the bacterium’s behavior.
“Compared to other microbes, pseudomonads carry specialised genes that help them tolerate high salt levels, including sodium transport systems and other stress resistance mechanisms,” Todd said.
Next, the researchers introduced various pseudomonad strains to soybean plants in laboratory and real-world soil experiments and observed that the bacteria colonized plant roots, resulting in increased growth in harsh, salty environments. Those soybean plants that received the bacteria demonstrated stronger root systems, more advanced development, and higher yields than those without.
“The most surprising thing was finding out how the bacteria helped plants cope,” Todd said. “For decades, it was thought that plants survive salinity by controlling sodium levels – essentially keeping harmful salt out. But we found no evidence that bacteria influenced sodium transport or ion balance.”
“Instead of helping plants manage salt directly, the bacteria stimulated the plant to produce more of a substance called lignin,” Todd continued. “Roots of bacteria-treated plants showed a significant increase in lignin content, with some measurements rising by over 30 percent under salt stress.”
The tough, wood-like lignin acted as a shield against the salt, strengthening delicate tissues to endure a challenging environment. Unfortunately, in plants that couldn’t produce lignin, the pseudomonads produced no benefit. Building on the discovery, the researchers identified the genes in the plants involved in lignin synthesis and artificially overexpressed them to successfully confer salt resilience.
“We hope this discovery opens up new possibilities for agriculture,” Todd concluded. “With vast areas of farmland already affected by salinity and more under threat, microbial solutions could become an essential tool for maintaining crop yields and ensuring food security.”
The paper, “Pseudomonads Associated with Salt-Stressed Plants Facilitate Stress Adaptation of Soybean through Enhanced Lignin Biosynthesis,” appeared in Science Advances on June 24, 2026.
Ryan Whalen covers science and technology for The Debrief. He holds an MA in History and a Master of Library and Information Science with a certificate in Data Science. He can be contacted at ryan@thedebrief.org, and follow him on Twitter @mdntwvlf.
As the newly elected president, Abelardo de la Espriella, pledges to exploit oil reserves, environmentalists prepare to defend climate progress
It is hard for Yuvelis Morales Blanco to pinpoint when her activism started. Now 25, she recalls getting involved in land rights and environmental issues in Santander, northern Colombia, from a young age. Living near water, she says, has always shaped her connection to nature. “My parents are fishers on the Magdalena, Colombia’s most important river,” says Morales. “For us, the river isn’t just food – it embodies life, identity and culture.”
In April, she received the Goldman environmental prize for her leadership in Puerto Wilches, where she succeeded in halting oil extraction and fracking. Yet, it seems her struggle is only just beginning.
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© Photograph: Iván Valencia/AP
© Photograph: Iván Valencia/AP
© Photograph: Iván Valencia/AP
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