Following a budget significantly short of green measures, the government last week announced a new wave of investment to boost the oil and gas industry.
Improved research facilities and tax reliefs will help the UK exploit its “remaining resources and overcome an increasingly challenging production environment” in the oil and gas sector.
Energy secretary Ed Davey said, “Even as we move to a low-carbon economy, oil and gas will remain an integral part of the UK energy mix for decades to come.
“With our support for carbon capture and storage, for decommissioning and by encouraging increased collaboration across different energy sectors, especially offshore, there will also be new sustainable growth opportunities for the industry and the wider UK supply chain.”
Davey added that the strategy would allow the UK to “harness the natural resources available in a way that is both sustainable and profitable, for the industry, for the country and for the planet.”
A recent study published by the International Monetary Fund highlighted how governments should stop subsiding energy, particularly fossil fuels, in order to stop inequality, help economic growth and tackle climate change.
As we’ve said before, claims of prosperity in the oil and gas industry mostly fail to account for the finite nature of fossil fuels. True sustainable growth would therefore involve investing heavily into renewable energy – which will deliver long-term jobs and energy security without polluting the atmosphere.
Like our Facebook Page
Can You Maximize Your Profits While Investing Ethically?
Environmental Benefits of Living in Miami. Why Is It Worth Moving There?
5 Ways To Shift To Green Energy At Home
Advantages of Free-Range Farming for Eco-Friendly Consumers
What is Eco-Friendly Investing and How Can You Embrace It?
Green Software Ideas to Implement with an Offshore Development Team
5 Things Eco-Conscious Consumers Should Know About Private Wells
The True Environmental and Social Costs of Mined Diamonds
20 Incredible Facts Eco-Tourists Should Know About Dubai
5 Massive Benefits of Turning to Renewable Energy
6 Tips For Getting the Most from a Solar-Powered Home
7 Excellent Ways to Live a Greener Lifestyle in 2021
How the Property Industry Is Embracing Eco-Friendliness Across the Board
Sustainability in Construction: Methods to Mitigate Environmental Impacts
New Company is Driving ESG Infrastructure Development in Mining
10 Tips to Turn Your Next Holiday into an Eco-Friendly Celebration
4 Benefits of Commuting with a Bicycle as an Eco-Friendly Consumer
Some Important Facts about Eco-Friendly Glass Railings
Impact Proof of Stake Ethereum Mining on Power Industry Sustainability
7 Business Survival Guidelines All Eco-Friendly Entrepreneurs Must Follow
- Features12 months ago
Eco-Friendly Interior Design Is Easier Than You Might Think
- Features10 months ago
Eco-Friendly Hacks To Create A Durable Shop For Your Home
- Energy6 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features5 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home