Ah, Labour’s latest brainwave—stopping all new North Sea oil and gas exploration. Another masterstroke in their endless bid for “climate leadership.” Ed Miliband must be feeling particularly smug, prepping to jet off (on a private plane, of course) to the UN’s COP29 summit in Azerbaijan to wave his green credentials around. It’s almost comical: here’s the UK, accounting for a whopping 1% of global emissions, yet acting like we’re the heavy hitters in the global energy game, long after we exited the world stage.
And let’s not forget last week’s delightful twist: Trump’s comeback as America’s president. Labour, bless their hearts, had been acting like their energy policies were perfectly aligned with “Bidenomics” — you know, endless subsidies for “green” projects and politely throttling the oil and gas industry. Apparently, that wasn’t quite the hit they thought, as American voters swiftly kicked that idea to the curb. Trump, meanwhile, is gleefully ready to fire up America’s “liquid gold” and toss the green subsidies out the window. Investors followed suit, with oil stocks soaring and renewables taking a dive. Shocking, right?
Trump will probably make his first executive order to ditch the Paris climate accord altogether. Frankly, it’s almost refreshing. At least he’s not preaching “green” while turning the pumps on full blast, unlike our friends in Azerbaijan, the COP29 hosts, who refer to their oil reserves as a “gift from God.” How touching! Their president, Ilham Aliyev, is as dedicated to increasing oil output as a zealot at a revival meeting.
Over in Brazil, the “green” rhetoric is also thriving, with President Lula da Silva dubbing his country a leader in fighting the climate crisis—right before announcing plans to turn Brazil into the world’s fourth-largest oil producer. His pitch? Why should the U.S. and Saudi Arabia have all the oil fun while Brazil sits out? Solid point, Lula.
And how about Norway, our eco-conscious neighbour? Nearly every new car there is electric, and they’re practically worshipped for it. But dig a bit deeper, and you’ll see that Norway is ramping up its North Sea exploration like it’s 2010 all over again. They’re even eyeing a new Arctic “petroleum province” for future drilling adventures. Meanwhile, on our side of the North Sea, we’re busy calculating the eye-watering costs of shutting down oilfields.
So, who’s got it wrong here? Has Norway gone mad? Is Lula seeing double? Or is it Ed Miliband who’s finally cracked the code? Maybe one day the rest of the world will gaze upon the UK and Germany, with their sky-high energy bills and unwavering commitment to wind and solar, and think, “Ah, those chaps really knew what they were doing.” Yeah Right!