The Conservatives want to brand Burnham’s administration as a ‘traditional tax and spend socialist government’

In a news release issued ahead of his speech this morning, Andrew Griffith, the new shadow chancellor, gave details of some of the questions he wants the experts he has asked to review small business regulation to address. (See 8.58am.) He said:

[Craig Mackinlay and Robert Colvile] will produce a report taking evidence from small business and self-employed organisations. While they will have a wide remit, they will consider in particular these key questions, and report in December:

-Why have past attempts to reduce the regulatory and compliance burden on small business and the self-employed failed, and what specifically should be done to reduce the burden successfully?

This is staggering. Our socialist Chancellor has dished out a big Bank of England finance job to a socialist union boss who knows nothing about finance.

Clearly, trade union donations not only buy your way into government policymaking, but also onto the Bank of England’s board. This is cronyism in plain sight.

Trump’s EPA strips itself of regulating ability, gutting Clean Air Act in what experts say is a gift to planet polluters

On the heels of the hottest summer ever recorded in the US, the Trump administration has said it will erase any limits on emissions from coal and gas plants that are dangerously heating up our planet.

The US Environmental Protection Agency said it will strip itself of its ability to regulate greenhouse gas emissions coming from power plants under the Clean Air Act, removing a key tool to address the climate crisis.

Energy Transfer, whose CEO is a major Trump donor, named as biggest single methane producer in new rankings

Down a short gravel track in a largely nondescript corner of Louisiana sits a gas processing facility, operated by a company whose chief executive is a major donor to Donald Trump. It may be the largest emitter of methane in the US.

The Energy Transfer site, located near the city of Shreveport, is named as the biggest single “super-emitter” in new rankings of US oil and gas operations for the largest releases of methane, a powerful greenhouse gas that is rapidly overheating our planet, according to a new UCLA study, which is based on satellite data.

Emissions of planet-heating methane and CO2 from natural sources are worsening the climate crisis, paper says

Rising global temperatures caused by the burning of fossil fuels are transforming the world’s forests, wetlands and tundra to the point they are releasing emissions that could further worsen global heating by as much as 30%, a new study has found.

As the world heats up, permafrost in the high latitudes is thawing, fiercer wildfires are burning in drying forests and wetlands and lakes are warming. All of these changes are themselves causing the release of planet-heating methane and carbon dioxide locked in trees and soils, therefore worsening the climate crisis, the paper states.

Climate catastrophe is on our doorstep – yet Labour’s impending approval of further drilling will bring more pain for negligible gains

Pinch yourself, it’s happening again. Here is a Labour government spending a vast amount of political capital to earn tiny material gains while risking huge political losses. It occurred repeatedly under Keir Starmer, and now – with the impending decision to approve further gas and oil drilling in the North Sea – it is happening under Andy Burnham. You rack your brains to explain it, but no rational explanation comes.

Burnham is studiously cryptic about his reasons. His clearest statement to date goes as follows: “There is a resource there. When people are struggling, we can’t ignore that.” Does he mean that oil and gas workers are struggling? If so, this decision will be of little use to them. The Jackdaw gasfield, likely to be approved this week, will generate a grand total of 27 direct full-time jobs. The Rosebank oilfield, whose approval is likely to follow soon, will support 450 UK-based jobs during its lifetime. Yet the UK’s net zero economy directly employs 300,000 people, and a further 400,000 jobs are planned. The rest of the green economy employs more than 600,000. A just transition for fossil fuel workers, securing jobs in the green economy, is better for everyone.

George Monbiot is a Guardian columnist

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.

Queensland open-cut Saraji mine will be able to keep digging until 2055 as Anthony Albanese denies tensions with Pacific leaders over fossil fuels

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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”.

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.

It’s simple, says the SpaceX boss – according to something called the ‘Kardashev scale’, we just have to move energy production ‘off-planet’

Next time the weather gives the UK 61 days without rain and we wonder idly if this is the end, there is a term we may whistle up to soothe us. Like murmuring the rosary, or putting our fingers in our ears and humming, this phrase is to be mumbled on repeat – “the Kardashev scale, the Kardashev scale” – a buzzy concept in tech, much favoured by Elon Musk, and precisely the thing we’ve been waiting for. The Kardashev scale is the answer both to our impending doom and our anxiety around it – and if we decide to believe in it, we won’t have to give the climate crisis a single thought until the last drip falls from the tap.

This is the idea and it’s a familiar one to anyone who has watched tech billionaires take intractable, commonplace crises and decide that, among the measures and proposals in play, the vital missing ingredient so far has been them. Do you remember when Jeff Bezos, rather than doing something quotidian and loserish like funding public education by ensuring Amazon pays the same tax rate as regular Americans, decided instead to reinvent preschools?

Emma Brockes is a Guardian columnist

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

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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.

London mayor points to ‘terrifying scenes’ this summer amid speculation Burnham may back Jackdaw and Rosebank projects

• Sadiq Khan: This burning summer is the proof: the voices of climate denial aren’t just delusional, they’re deadly

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.”

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.

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.

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.

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.