Climate impacts outweigh North Sea gains

Experts claim that developing the Rosebank and Jackdaw oil and gas fields in the UK would cause climate-related economic damage between £119 billion and £336 billion, far exceeding their estimated value of £28.7 billion. The analysis highlights that the environmental costs from CO2 emissions would outweigh any short-term economic or energy security benefits, emphasizing the long-term financial harm of fossil fuel expansion. The proposed projects face opposition from climate advocates and some political leaders, with officials stating that oil and gas will remain important for the UK’s energy system despite transitioning to clean energy sources.

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