Insulation beats new oilfields on living costs: study — SkimNews
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- E3G finds the £15bn warm homes plan would slash bills by £1bn annually, boost the economy by £1.6bn a year, and create ~50,000 jobs across thousands of small businesses.
- Rosebank oilfield would generate only ~1,100 direct and indirect jobs concentrated in the North Sea, with benefits flowing largely to overseas companies including Equinor.
- North Sea tax revenues totaled ~£4bn in 2025-26 against ~£3.26bn in upstream relief, and are projected to fall to ~£100m by 2030, with decommissioning likely costing taxpayers £12bn.
- Adura, the Equinor–Shell joint venture, claims Rosebank and Jackdaw would deliver £35.3bn in UK economic value through 2035, but the Guardian's analysis flags that the figures ignore £2.4bn+ in tax reliefs and skip the standard Treasury discount rate.
- Energy secretary Miatta Fahnbulleh said a decision on the Jackdaw gasfield is "imminent," with the Rosebank ruling to follow shortly after.
- Ten major unions, scores of Labour MPs and 600 scientists have written to the government opposing a Rosebank licence, intensifying pressure before the decision.
Why it matters: With ministers weighing imminent licensing decisions on Jackdaw and Rosebank against a £15bn warm homes plan under threat of budget cuts, E3G's analysis hands Labour rebels, unions and 600 scientists fresh economic ammunition against new drilling. But Adura's disputed £35.3bn counter-claim — which ignores £2.4bn+ in tax reliefs and skips HM Treasury's standard discounting — shows the political fight over North Sea investment is far from settled.
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