The UK is pursuing a vastly different set of policies, and the results are, as you would expect, vastly different. Not so much in terms of the quantity of fossil fuels that will eventually be consumed—it's not as if Britain's policies have an appreciable impact on the amount of carbon dioxide released into the atmosphere—but in terms of the economic impact on the lives of Britons.
Its discoveries are in stark contrast to the UK sector of the North Sea, which has been hit by the Government’s 78pc total tax rate on oil and gas profits and a ban on new exploration.
The energy levies means the UK industry is now in recession, contracting at around 15pc a year and losing 1,000 jobs a month according to trade body estimates.
In October, companies operating in UK waters produced oil and gas equivalent to 33 million barrels of oil, just a fifth what it was producing in 2000 and a quarter of Norway’s current monthly output of 126 million barrels.
Ed Miliband, the Energy Secretary, argues that the UK’s North Sea is in inexorable decline and the country must break its reliance on fossil fuels. Some industry experts disagree, saying the UK will need oil and gas for decades to come and North Sea reserves could supply much of the country’s needs.
Strom:
The UK emits about 0.6% of global CO2 emissions, and its policies on fossil fuel production likely have an impact on reducing emissions by hundredths of a percent.
To put this in perspective, China emits 40x as much CO2 as the UK, and per capita emissions are about double those of the UK. And those emissions keep rising, with China now accounting for roughly a third of worldwide emissions. By any practical measure, what the United Kingdom does or does not do is irrelevant. Its emissions are a rounding error.
Despite the obvious fact that the UK's energy policies have zero impact on the climate, even if you believe all the climate alarmism, Labour is pushing policies that are impoverishing its citizens.
All cost, zero benefit.
Yet Norway, which is hardly run by people who are indifferent to the fate of the Earth, is dealing with reality.
In contrast to the British policy, Norway’s official oil and gas policy aims to “provide a framework for the profitable production of oil and gas in the long term”.
The latest discovery, by Harbour Energy last week, opened up a new gas condensate field about 125 miles north-east of Shetland. Another oil discovery by Aker BP lies just over the UK/Norwegian border.
Each of the new fields is relatively small, but together they boost Norway’s output cheaply because they can be linked to existing subsea pipelines and other infrastructure.
The Norwegian Offshore Directorate report makes clear that Norway’s sector of the North Sea will remain productive for years. Much of its gas and some of its oil is destined for the UK, replacing supplies lost by the UK Government deliberately running down its own sector.
Strom:
Britain's policies only serve to make the Norwegians wealthier and Britons poorer. Oil and gas prices rise due to a smaller total supply, while Britons lose jobs, while Norwegians gain them.
None of this requires deep thinking. You would hope a 12th grader could be shown the facts and conclude that Ed Miliband's policies are ruinous for everybody he represents.
But none of that matters. It's all about showing one CARES about an issue. Whether one is accomplishing anything is entirely irrelevant.
You see this sort of idiocy everywhere. Walk through Portland, Seattle, or Chicago, which are all cities run by bleeding hearts who keep on implementing policies with high-minded intentions and horrific results, and it just keeps going on. The results are irrelevant, and when you point out that things are getting worse, not better, you are the bad guy.
We care, you don't!
Huh? I want to make things better in the real world, not some fantasy world where that guy over there is living in a utopia in your mind, but actually pooping in the street before overdosing on fentanyl.
Underlying all this dysfunction is an ideological foundation that leads back to Critical Theory, which holds that reality only exists in our minds and can be reshaped with words and intentions alone. That, and a healthy dose of money that somehow winds up in their pockets, of course.
