Does Sunak’s Embrace of Oil Drilling Boost UK Energy Security?
The UK government has been offering permits to explore for oil and gas in the North Sea since 1964.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
British Prime Minister Rishi Sunak’s announcement this week that the government will grant hundreds of new licenses for oil and gas production in the North Sea unleashed a flurry of claims over the impact on the climate and energy security. While the move certainly cements a policy shift in the Conservative government’s approach to the environment, what does it mean for the UK in practical terms?
What is an oil and gas licensing round?