Latest news with #fossil fuels
BBC News
4 days ago
- Business
- BBC News
Biscathorpe oil drilling consultation launched
A campaign group is urging residents to have their say on the latest stage of a long-running legal battle over oil drilling in the Lincolnshire decision to approve an oilfield in Biscathorpe was quashed in July last year following a Supreme Court judgement after a claim had been brought in by SOS year, justices at the Supreme Court said emissions created by burning fossil fuels should be considered when granting planning permission for new drilling public have until 28 July to submit their opinions on further information submitted by the developer, Egdon Resources, on the potential climate impact of burning extracted oil. Mark Abbott, chief executive officer at Edgon Resources, said the company had submitted an assessment of the greenhouse gas emissions at the request of the Planning documents can be viewed on the planning applications portal on Lincolnshire County Council's application for an oil well at Biscathorpe was initially refused by Lincolnshire County Council in 2021, but the company successfully appealed it before it was taken to the High Court. SOS Biscathorpe, which has been fighting the plans for years, said the development "delivers almost nothing for national energy security, while threatening the integrity of one of Lincolnshire's most treasured natural areas".Mr Abbott said: "Although we are in transition away from fossil fuels, we are still highly reliant on oil and gas for transportation, heating our homes and running our businesses."According to the Local Democracy Reporting Service, Egdon Resources previously said it could potentially extract 6.5 million barrels of oil over 15 years at the wanting to submit their opinions can do so by writing to the Planning Inspectorate using the Planning Inspectorate Portal on its website, a document on the appeal application stated. Listen to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Arab News
5 days ago
- Business
- Arab News
OPEC says no peak to oil demand before 2050
PARIS: The OPEC oil cartel said Thursday that demand for crude will continue to expand through at least 2050, calling efforts to rapidly shift away from fossil fuels an unworkable fantasy. In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent from 103.7 million barrels per day in 2024 to around 123 mbd in 2050. That rising demand will be 'driven by expanding economic growth, rising populations, increasing urbanization, new energy-intensive industries like artificial intelligence, and the need to bring energy to the billions without it,' said OPEC Secretary General Haitham Al-Ghais in his foreword to the report. 'There is no peak oil demand on the horizon,' he said. That forecast puts OPEC, which gathers together a number of the world's leading oil exporting nations, at odds with the International Energy Agency, whose member states include many oil-consuming nations. The IEA said last month that it expects global oil demand to begin to decline in 2030, driven by the rise of electric cars and the shift away from crude to produce power. The IEA even sees oil demand dropping in Saudi Arabia as it replaces crude with gas and renewable energy to produce power. Ghais said that OPEC sees growth in oil demand being primarily driven by developing nations, and that fossil fuels still account for around 80 percent of the global fuel mix, little changed from when the cartel was founded in 1960. .'..it has become increasingly clear to many policymakers in recent years that the narrative of swiftly phasing out oil and gas has been seen for what it is: unworkable, and a fantasy,' he said. The OPEC chief blasted many timelines to reach net-zero carbon emissions as having 'little regard for energy security, affordability or feasibility.' Experts say a rapid phase-out of fossil fuels is necessary if global warming is be kept to 1.5 degrees Celsius above preindustrial levels.
