Uk response to oil and gas price hikes- do not use British North Sea oil and gas – build more failing ‘renewables’ and import the same North Sea oil and gas - from Norway!
Stupid is as stupid does - the costs of 'net Stupid zero
UK response to oil and gas price hikes- do not use British North Sea oil and gas – build more failing ‘renewables’ and import the same North Sea oil and gas - from Norway!
The economic damage imposed on the UK economy and its increasingly impoverished consumers continues to escalate.
Chancellor of the Exchequer, ‘Rachel from accounts’ announced the transfer of certain ‘green’ taxes into general taxation benefiting households by £10 a month.
Successive UK governments have directly caused the average household energy bill to more than TRIPLE FROM £600 A YEAR to £1,800 A YEAR in the last ten years, since 2006 asgovrnmt pursues ‘net zero’ policies.
That 1,800 a year could conceivably increase to £2,300 a year because of the effect on oil ad gas prices caused by the Iran war.
From here;
Labour says UK must ‘double down’ on net zero after Middle East crisis causes energy shocks
“Labour has vowed to “double down” on Net Nero, claiming it is the only way Britain can shield itself from future energy shocks after the Iran crisis sent global prices surging.
Business Secretary Peter Kyle argued accelerating the rollout of renewables such as wind and solar would reduce the UK’s reliance on oil and gas from “parts of the world which are fundamentally unstable”.
Of course that depends on sunshine and wind, not government policy.
“However, energy suppliers have recently cautioned that the most significant upward pressure on bills in the coming years will stem from green levies and network charges linked to the Government’s Net Zero agenda.
“These costs include subsidies for renewable generation and the expense of upgrading the electricity grid to manage increasing volumes of clean power.
At the same time, Labour has faced criticism over its position on the North Sea, with opponents arguing that the ban on new oil and gas licences and the continuation of the windfall tax are accelerating the basin’s decline.
“Mr Kyle rejected calls to increase extraction in the short term, arguing the North Sea could “never sustain the whole market in the UK” and relying more heavily on domestic output would “exacerbate the exposure we have at times like this”.
“His remarks came amid speculation ministers could lift the energy profits levy, which currently places the effective tax rate on North Sea producers at 78 per cent.”
“Documents published by the Office for Budget Responsibility (OBR) show the windfall tax is projected to end earlier than planned, in mid-2027 rather than 2030, because lower oil and gas price forecasts are expected to activate its automatic floor mechanism.”
Clear as mud, right? Prices for oil and gas are increasing but the windfall tax on North Sea profits is set to expire – yeah right! Expect an extension and even an increase in ‘windfall tax, further increasing the subsidy for renewables that get subsidies rather than pay (windfall) taxes!
The OBR projection was based on earlier price assumptions and may now require revision following this week’s surge in global energy markets.
After Rachel Reeves delivered her Spring Statement, shadow chancellor Mel Stride said scrapping taxes on North Sea production should be her “top priority”.
“Forecasts from the North Sea Transition Authority indicate that even under net zero policies, Britain will require at least 14.6 million barrels of oil a year by 2050, compared with 68.8 million today.
Gas demand is projected to fall from 62 billion cubic metres to 14.6 billion cubic metres over the same period, with imports expected to account for the majority of supply by the late 2030s as domestic reserves decline.”
“Mr Kyle was speaking at Make UK’s annual conference, where manufacturers warned that “hideously high energy costs” had become “an existential threat” to British industry.”
From Brave AI:
“The UK’s energy imports are primarily composed of oil and gas, which together make up over 90% of total energy imports. In 2024, the UK’s net import dependency reached 43.8%, up from 40.3% in 2023, reflecting a continued decline in domestic production from the mature continental shelf.”
“Oil imports: The largest share of oil imports in 2024 came from the United States, while Norway remains the top supplier of gas imports.
Gas imports: In 2024, gas imports fell by 8.4% to their lowest level since 2008, with pipeline imports rising 20% but Liquefied Natural Gas (LNG) imports dropping 47%.
Electricity imports: The UK imports electricity mainly from France (via nuclear-powered grid) and Norway (via hydroelectric power). In the second quarter of 2024, imports met 20% of UK electricity demand, the highest level ever recorded, surpassing solar generation and nearly matching gas output.
Bioenergy: The UK imports significant amounts of wood pellets (around 95% of supply) for biomass power generation, with Drax being a major importer.
Overall, the UK remains heavily reliant on imported energy, particularly for transport, heating, and electricity generation, exposing it to global price volatility and supply risks.
“Norway is the UK’s largest supplier of both crude oil and natural gas, playing a central role in the country’s energy mix. In 2024, the UK imported 13.5 million metric tons of crude oil from Norway, making it the top source of crude oil. “
“For natural gas, Norway is the primary supplier. In 2024, 99.2% of Norway’s gas exports to the UK were delivered via pipeline, with the remainder shipped as liquefied natural gas (LNG). The UK consumed 76 billion cubic meters (bcm) of gas in 2024, of which 32 bcm came from Norway, while 29 bcm came from domestic North Sea production. This marks the first time Norway’s supply exceeded the UK’s own output.
“Overall, Norway accounts for over one-third of the UK’s total gas imports and remains the dominant source of both crude oil and natural gas. However, declining North Sea output means the UK could import up to 80% of its gas and oil by 2030 without significant new investment.
Where does his Norwegian oil and gas come from? Fields in the North Sea that abut British North Sea fields!
Raher than producing oil and gas, the policies of the UK government buy the oil and gas from Norway! How dumb is that???!!!
“he UK imported £14.5 billion worth of gas from Norway in 2021, which accounted for 77% of all UK gas imports that year. This figure reflects Norway’s role as the UK’s largest gas supplier.
While the provided context does not include the most recent value for oil imports from Norway beyond 2021, it does state that Norway was the UK’s main crude oil supplier in 2021, accounting for 49.9% (£8.8 billion) of total crude oil imports.
“In 2024, the UK imported £29.15 billion worth of goods from Norway, with £25.86 billion of that value attributed to mineral fuels, oils, and distillation products—the primary category covering oil and gas.”
The UK government deliberately increases the trade deficit by importing fossil fuels because -‘imported fossil fuels ‘good’, -domestically produced fossil fuels ‘bad’.
The UK and Norwegian oil and gas fields are primarily located in the North Sea, a region rich in hydrocarbon reserves. The UK’s fields are spread across its UK Continental Shelf (UKCS), which includes six main regions: the Southern North Sea (mainly gas), Central North Sea (oil, condensate, and gas), Moray Firth, Northern North Sea, West of Shetland (oil and gas), and the Irish Sea/Liverpool Bay. Major UK fields include Brent, Forties, Clair, and Buzzard, with the largest offshore field being Clair, located west of Scotland’s Outer Hebrides.
Norway’s fields are situated on the Norwegian Continental Shelf (NCS), with the most significant ones in the northern and central parts of the North Sea. Key Norwegian fields include Statfjord, Troll, Oseberg, Johan Sverdrup, and Ekofisk. The Johan Sverdrup field, discovered in 2010, is one of the largest and most productive in Norway and is expected to produce for 50 years at peak output of 660,000 barrels per day.
Both countries share some transboundary fields that straddle their continental shelf boundaries—such as Statfjord, Frigg, and Murchison—where joint agreements ensure fair distribution of production and revenues. Norway holds a larger share of the North Sea’s total oil and gas reserves, with its sector containing 54% of the region’s oil and 45% of its gas, and has developed fewer, larger fields compared to the UK’s many smaller fields.
Norway has made several significant oil and gas discoveries in the North Sea in recent years, particularly in 2025, reinforcing its position as a leading energy producer. Key discoveries include:
Harbour Energy and Aker BP confirmed new gas condensate and oil finds in the Norwegian North Sea near the UK border, including a gas discovery at the Camilla Nord prospect, estimated at 2.2 to 4.7 million barrels of oil equivalent.
Equinor successfully drilled a wildcat well in the Norwegian North Sea, discovering seven million barrels of oil.
Norway conducted 45 exploratory wells in 2025, with 12 yielding commercial oil and gas, including six in the North Sea.
The Johan Sverdrup field, discovered in 2010, remains one of the largest on the Norwegian Continental Shelf, with reserves of 1.7 to 3.3 billion barrels of recoverable oil, producing from 2019 onward.
The Snøhvit Gas Field, Draugen oil field, Heidrun oil field, and Gullfaks oil field are among major historical and ongoing producers.
In contrast, the UK sector has seen a sharp decline in exploration and production due to policy changes:
The UK government banned new oil and gas exploration licenses in 2025, citing climate goals.
The 78% tax rate on oil and gas profits has driven investment away, with the industry contracting at 15% per year and losing 1,000 jobs monthly.
In October 2025, UK operators produced 33 million barrels of oil equivalent, just one-fifth of what they produced in 2000 and a quarter of Norway’s output.
Despite this, the North Sea Transition Authority (NSTA) reported in October 2025 that UK’s remaining reserves have increased to 15.8 billion barrels, based on data from the 2022 licensing round before the ban.
The stark contrast highlights Norway’s active exploration and infrastructure-driven development versus the UK’s policy-driven retreat from fossil fuel extraction.
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I'm no Economist but, even with my little pea brain, 6 solar panels and a 3kWh storage battery down south, know their policy is one of rank stupidity.