- Posted by: Rosie Duffield MP
- Category: News
This week, along with MPs and Peers from across the political spectrum, I have signed a letter to Grant Shapps, the Secretary of State for Energy Security and Net Zero, urging him to reject the development of the Rosebank oilfield.
Approving Rosebank would be an enormous cost to the taxpayer, but would save people nothing on energy bills. Taxpayers would carry 91% of the development costs, whilst its Norwegian owners Equinor would receive £3.75bn in tax breaks. And, Equinor has confirmed that the fields reserves would likely be sold on European markets meaning the oil from Rosebank won’t lower UK household bills or enhance energy security.
What’s more giving the green light to Rosebank would be a climate and nature disaster with the Government’s own advisors stating that the expansion of fossil fuel production will mean the UK along with the rest of the world will face more heatwaves, storms and flooding. And, approving Rosebank would also weaken Britain’s position with big emitters like China.
It’s clear from their failure to impose a meaningful windfall tax, to handing over billions of pounds of taxpayers money that the Conservatives are on the side of the big oil and gas companies, rather than helping households through the cost of living crisis.
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