UK Budget Signals Wave of New North Sea Oil and Gas Drilling
John Healey’s Budget has assumed the government will approve North Sea discovery drilling projects that produce in excess of a billion barrels of oil and gas, in the clearest sign yet that ministers plan to rubber-stamp a wave of new drilling after Jackdaw and Rosebank. In its scorecard for the Chan
Source: OilPrice.com
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DW NOTE
The UK is opening new North Sea acreage while Brent sits at $110 and the Strait of Hormuz has been effectively closed for four days. That's not energy policy, that's a scramble for domestic production after spending two decades treating oil security as someone else's problem.