A section of the BP Eastern Trough Area Project oil platform is seen in the North Sea, about 100 miles east of Aberdeen in Scotland on February 24, 2014. Picture: REUTERS/ANDY BUCHANAN
Oil majors say new production can play a role in managing decline, while campaigners are pressing for an immediate halt to new projects with publicity stunts and legal action. The challenge caused by shrinking domestic production and rising fuel imports has been felt across Europe. The European wholesale gas price is up more than 350% this year.
“If the government is worried about keeping the lights on there are things they can be doing to reduce demand,” Evans said, including improvements to home insulation, cleaner public transport and more investment in renewable power generation. “The purity of the IEA report is excellent, but the reality in practice for countries is about ensuring security of supply,” Anne-Marie Trevelyan said in June when she was still British minister of state for energy and clean growth.
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