Ed Miliband Rewrites Rules on Carbon Emissions, Opening Door for Controversial North Sea Drilling Projects

Ed Miliband is preparing to change the law on Britain's greenhouse gas emissions, a move that could allow two of the North Sea's most contentious drilling projects to proceed. The Energy Secretary's new guidance is expected to pave the way for Equinor's Rosebank oil field and Shell's Jackdaw gas field to be developed, despite previously being blocked due to their climate impact. The projects, once described as "climate vandalism" by Miliband, had their licenses revoked after environmentalists successfully challenged the government's assessment of greenhouse gas emissions.

Key Takeaways:

• The Energy Secretary, Ed Miliband, is set to change the law on Britain's greenhouse gas emissions to facilitate the development of two North Sea drilling projects, Rosebank and Jackdaw.
• The projects, initially blocked due to their climate impact, had their licenses revoked after a court ruling that environmentalists had successfully challenged.
• The new guidance will likely require companies to reassess their emissions and reapply for licenses, which could lead to the approval of many other stalled fossil fuel projects in British waters.
• Rosebank, the largest undeveloped reserve in UK waters, could produce oil for up to three decades and supply several million homes with gas.
• Jackdaw, a gas field 150 miles east of Aberdeen, is expected to account for 6% of the UK's entire gas output and supply several million homes.
• The new rules could also lead to the approval of other projects, including the giant Cambo oil field, which is also involved in Rosebank.
• The Scottish judicial review of Jackdaw and Rosebank followed a Supreme Court ruling in a separate case brought by environmental activist Sarah Finch against Surrey county council.

Statistics:

• The two North Sea sites, Rosebank and Jackdaw, have estimated reserves equal to 1.7 billion barrels of oil, with a value estimated at over £20 billion (Source: [The Telegraph]).
• The UK's greenhouse gas emissions were a key factor in the court's decision to block the Rosebank and Jackdaw projects.
• Rosebank could produce oil for up to three decades, with an estimated 640 million barrels of oil expected to be extracted from the field.
• Jackdaw is expected to account for 6% of the UK's entire gas output, enough to supply several million homes.

Sources:

• The Telegraph
• Greenpeace
• Uplift
• Offshore Petroleum Regulator for Environment and Decommissioning
• North Sea Transition Authority
• [Surrey county council website]