Researchers urge governments to help worst afflicted countries, such as Nigeria and Algeria, which rely on oil revenues for public services
Conflict, migration and economic upheaval will accompany the global move away from oil, unless governments act urgently to help the worst afflicted countries to cope, research has found.
Nigeria, Iran, Angola and Algeria are among the countries that will be severely affected, as they rely strongly on oil revenues for their government and provision of public services, but have little diversification and too little capital to cushion the blow.
Energy secretary could recommend new North Sea drilling next week, as ministers also consider approval for Rosebank oilfield
Ministers are poised to approve a controversial new gasfield in the North Sea this month, according to government sources, and are considering approving a major oilfield later this year.
Miatta Fahnbulleh, the energy secretary, will give her recommendation to approve the Jackdaw field off the coast of Aberdeen as soon as next week, according to people close to the decision, and the formal approval could follow a week after.
Australia’s new national agency for environmental protection has approved its first coal project, allowing a Queensland open-cut mine to keep digging until 2055 while clearing threatened woodland and koala habitat.
The confirmation of the extension of the Saraji mine, which digs and exports coal for steel making, comes after the prime minister, Anthony Albanese, denied this week there was tension over Australia’s fossil fuel exports during talks with Pacific leaders.
Bangladeshi complainants allege Rampal power station’s pollution and climate risks threaten the Sunderbans, a world heritage site
Barclays Bank is facing a formal complaint over its financial links to a coal-fired power station near the Sundarbans, the world’s largest mangrove forest and home to millions of people in Bangladesh and India.
Three complainants from the region have submitted a case to the UK government’s Office for Responsible Business Conduct, alleging that the British bank breached international guidelines by underwriting companies involved in the emission-heavy Maitree super thermal power project, also known as the Rampal power plant.
Secretive state begins repairs on ageing facilities after being revealed as worst country for leaks of potent greenhouse gas
Turkmenistan has started plugging the mega-leaks of methane that spew from its ageing oil and gas facilities, the latest UN data shows, in a move hailed as a breakthrough.
Methane, also called natural or fossil gas, is a potent greenhouse gas. It traps 80 times more heat than carbon dioxide and causes 25% of global heating today. Stopping leaks can be quick and cheap and, because methane breaks down in the atmosphere far quicker than CO2, this has a rapid impact, with some experts calling it the climate “emergency brake”.
Campaigners say ‘seismic shift’ follows years of pressure to sever ties with oil and gas firm
The London Science Museum has ended its decades-long partnership with the oil and gas company BP in what has been described as a “seismic shift” for the museum.
The Science Museum Group academy, which was established in 2018 to provide training and resources, announced on Friday that it would be ending its partnership with BP. In a statement, the director and chief executive of the Science Museum Group, Sir Ian Blatchford, said the partnership had “drawn to a close at the end of the current contract term”.
Chris Bowen insists federal Labor’s new national laws on datacentre power supply will not include carve-outs for Queensland and the Northern Territory, with states that are eager to use coal and gas required to make their case to the national regulator.
The energy minister told Guardian Australia on Friday the only concession agreed at Wednesday’s meeting of national cabinet was that existing coal and gas supply could be used on the condition it could be shown to be cheaper than renewables.
Colin Hines says Andy Burnham’s focus should be on drastically cutting fossil fuel use in a way that reduces bills and generates secure jobs
It is hardly surprising that many who were optimistic and supportive of Andy Burnham becoming prime minister, but who also prioritised tackling climate chaos, are becoming increasingly unsure about him, given his tardiness in emphasising this threat as an overriding policy objective (Labour ‘could lose up to 50 seats’ to Greens if new drilling in North Sea approved, 19 August).
One of the problems he faces is that the political debate around energy is obsessed with relatively short-term fossil fuel supplies. Instead, the focus should be on drastically and rapidly cutting fossil fuel use in a way that reduces bills and generates secure jobs through a devolved energy programme for every postcode.
Last week reporters Jillian Ambrose and Damian Carrington published a piece which revealed that biggest oil firms made $93bn in profits in three months amid the war in Iran and the climate crisis. They’re online now to to discuss their story and any other questions you might have
StanEthel asks: Does anyone in the fossil fuel industry accept responsibility for climate change? If they don’t, how is their denial structured: it’s not happening, it’s someone else’s fault, it’s not our fault?
Damian:
The short answer is no, and a rising tide of lawsuits against fossil fuel companies for their role in the climate crisis means that is unlikely to change anytime soon. The science is ever clearer though. An analysis published last September showed for the first time that carbon emissions from the world’s biggest fossil fuel firms were directly linked to fatal spells of hot weather.
The big oil companies were among the first to realise the dangers of global warming half a century ago. But decades of denial then followed. As the reality of climate crisis has become undeniable, the arguments of the fossil fuel industry have shifted. Gas was cleaner than coal, for example, or that carbon credits from new forests could offset emissions. Today, the industry likes to tout carbon capture and storage (CCS) as a solution. But just this week, one of CCS’s loudest cheerleaders, ExxonMobil, has started a process to sue the European Union which wants to make the company actually store a small amount of CO2.
In the first weeks of the conflict, some predicted that the government’s taxes on North Sea oil and gas would yield a £20bn tax windfall for the Treasury if surging oil and gas prices remained high over the whole year. This is because the government’s windfall tax on North Sea oil and gas, known as the Energy Profits Levy, imposes an effective headline tax rate on North Sea profits of 78%, and the Treasury collects VAT from petrol and diesel sales too.
But prices have not climbed by as much as first feared. So what can we reasonably expect? Before the war, the Office for Budget Responsibility forecast that oil and gas revenues would raise £2.7bn in the 2025/26 financial year. It also suggests that for every $10 increase to the benchmark oil price, the Exchequer can expect an extra £900m in revenue. Meanwhile, every 1p increase in the price of gas hands the Treasury an extra £55m.
Modelling finds AI-driven productivity gains in coal, oil and gas enable more emissions than applications in renewables avoid
AI-driven productivity gains enable more planet-heating pollution from fossil fuels than they avoid from renewables, a study has found.
Researchers modelled the technical potential for AI to boost clean power generation along with projections for how it can help produce coal, oil and gas. Across 64 scenarios, they found net yearly carbon pollution rose by 0.47-1.8 gigatonnes, or about 1-5% of the energy sector’s annual emissions.
Modelling finds AI-driven productivity gains in coal, oil and gas enable more emissions than applications in renewables avoid
AI-driven productivity gains enable more planet-heating pollution from fossil fuels than they avoid from renewables, a study has found.
Researchers modelled the technical potential for AI to boost clean power generation along with projections for how it can help produce coal, oil and gas. Across 64 scenarios, they found net yearly carbon pollution rose by 0.47-1.8 gigatonnes, or about 1-5% of the energy sector’s annual emissions.
In today’s newsletter: As we enter our fifth summer heatwave, Andy Burnham’s government is looking at what the UK should do with its remaining North Sea oil and gas
Good morning. What a difference a new job can make. “To have a shot at staying within 1.5C global warming, we can’t have any new oil or gasfields … It’s irresponsible and shortsighted to be funding new #fossilfuels when we need to be getting to #NetZero.”
This was the 2022 message from Miatta Fahnbulleh, now the secretary of state for energy security and net zero. It’s a testament to her remarkable rise that Fahnbulleh wasn’t even an MP when she posted it four years ago. Today, she is in the cabinet, facing (or is the face of, at least) one of the most challenging, and potentially controversial questions looming for the new government: to drill or not to drill, baby?
Two sites are the focus of fierce debate. Yesterday, a public consultation on whether to greenlight extraction at one of them – Jackdaw – closed. Next Monday, it’ll be the same for the other, Rosebank. Andy Burnham has been silent about the climate crisis since taking office. As we enter yetanother heatwave, what his government does next will be a defining signal of intent on the issue.
Colombia | More than 100 people have died after a powerful earthquake struck western Colombia, collapsing and severely damaging scores of buildings in major cities including Cali and Pereira.
UK weather | Almost three-quarters of England is now in drought, with four more regions officially declared, and as much of Europe braces for its fifth climate crisis-driven heatwave this summer.
Crime | Police are investigating whether Joshua Kerry, the man charged with the murder of the former Reform UK and Conservative politician Ann Widdecombe, had any role in an attempted burglary last year at the then London home of Nigel Farage.
China | More than a million people were moved to safety across eastern China by Sunday evening as powerful Typhoon Dolphin made landfall amid fears torrential rain would cause flooding and landslides.
Ukraine | Russia has banned voting against the war in September’s elections, after the supreme court upheld a suit brought by a small pro-Kremlin nationalist party, and stripped voters of their last option on the ballot: Yabloko, the country’s only remaining anti-war party.
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.”
Police have dropped charges against more than 100 protesters two years after they blockaded the port of Newcastle as part of one of Australia’s largest climate protests.
In the Newcastle local court on Friday, the police prosecutor withdrew charges against 125 protesters. Legal group Climate Defenders Australia, which is representing the bulk of the protesters, said it had petitioned police to do so.
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.
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.
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.
Don’t worry about the death toll and economic devastation. There’s money to be made!
As the United States launches a “heavy wave” of strikes against Iran, a conflict that turned from a limited incursion into an extremely expensive and painfully drawn-out war, some clear winners are starting to emerge — and we’re definitely not talking about the American people.
As the Wall Street Journal reports, British fossil fuel giant Shell is reaping enormous profits thanks to spiking oil prices triggered by the conflict in Iran. Its second-quarter adjusted earnings rose from just shy of $7 billion the previous quarter to a stunning $9.84 billion in the most recent one. That’s well above already-lofty expectations from analysts, who predicted earnings of $8.92 billion. It’s also double compared to the same period last year, indicating a major surge in profits, in large part due to the violence in Iran.
Shell isn’t alone in the oil industry. Both Chevron and ExxonMobil are expected to report “monster earnings,” as CNBC put it, later this week.
Beyond the oil and gas industry, major banks including JPMorgan are making record profits during the ongoing war thanks to heavy trading volumes as investors rush to dump volatile assets or buy the dip.
Then there’s the Department of Defense’s many contractors, which are also seeing strong growth in sales and profits. Three of the biggest defense contractors, Lockheed Martin, Boeing and Northrop Grumman, reported record sales backlogs boosted by the Iran war earlier this year, from anti-ballistic missile systems to Patriot drones and intercontinental ballistic missiles.
In short, it doesn’t take much reading between the lines to see who the real winners and losers of Trump’s prolonged war are. It’s a conflict lining the pockets of the military industrial complex and fossil fuel companies — the last thing a society suffering the effects of human-induced climate change and reeling from political instability needs.
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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