The final chapter for North Sea oil
Soundings - ISSN 1362-6620
Volume 2018 Number 68
The final chapter for North Sea oil
Adam Ramsay pages -
Abstract
To keep to two degrees of global warming requires leaving 80 per cent of known fossil fuel deposits unburnt. A decision is therefore needed about which deposits to leave where they are, and North Sea oil, reserves of which are in any case running out, is a strong candidate for being left. This should be accomplished through using some of the remaining revenue generated by the oil to secure a just transition before closing down the pipelines. In other words, there should be a (Scottish) state- managed solution to the problem of the inevitable collapse of the industry. Market- based solutions to climate change will not work: they leave decisions in the hands of oil companies that will go bankrupt if they do not exploit their reserves, and will abandon workers when sources dry up.
To cite this article
Adam Ramsay (2018) The final chapter for North Sea oil, Soundings, 2018(68), -