Oil Firing

In the Guardian this morning, there is an analysis of the economics of developing the Rosebank and Jackdaw oil and gas fields in the North Sea. It estimates the economic damage caused by the carbon pollution from the oil and gas produced would be between £119bn and £336bn in the coming decades, compared with the £28.7bn in value to the UK estimated by Adura, the fossil fuel company promoting the new fields

The assessment applies peer-reviewed research on how rising temperatures harm economies to the production estimates for the fields from the company. The figures are likely to be underestimates, as they do not include losses from amplified extreme weather, sea level rise or climate deaths..

Why are the fossil fuel companies not made to pay the cost of the pollution caused by their products? Instead we ply them with subsidies! The only reason we are still using oil and gas is to maintain oil company profits; for the general public the costs are greater than the benefits. According to Prof Ian Bateman, at the University of Exeter Business School, said: “This is an interesting study which shows the cumulative global climate damage of oil extraction and use is beginning to exceed its face value. When we add in the tax giveaways to the oil industry and compare this to the declining cost and zero climate damage of renewable energy then the economic case for leaving oil in the ground is overwhelming.”

Time to price fossil-fueled vehicles off the road and aircraft out of the sky!

https://www.theguardian.com/environ...omy-north-sea-oil-gas-fields-rosebank-jackdaw

 

Ah, so we may as well shut everything down. That'll save a lot of worries about fundraising to keep heritage railways running. If you read the Guardian this is what you must expect.......