M
Member
Speaking in the House of Lords on 2 December 2024
Debate
Greenhouse Gas Emissions Trading Scheme (Amendment) (No. 2) Order 2024Contribution
We estimate the associated costs for upstream oil and gas, because of the scale of emissions at 0.4 MTCO2, to be minimal. We do not think it will place any organisation in financial difficulty. We have collaborated with the North Sea Transition Authority, which holds information about the financial status of oil and gas companies. My understanding is that all parties are satisfied that this policy will not have an impact on domestic supply.
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