The left-wing Labour Party is reportedly prepping plans to ban all new oil and gas developments in the North Sea and only provide loans and investments to so-called green projects.
Labour leader Sir Keir Starmer, who is widely predicted to become the next prime minister of the United Kingdom, is set to make the green agenda a central feature of his pitch to voters in the upcoming general election.
Among these plans, London’s Sunday Times reported, will be a prohibition on government licences for new gas and oil projects in the North Sea, in favour of so-called renewables instead under what is going to be dubbed the “green prosperity” plan to transform Britain into a “clean energy superpower”. The radical green agenda would also see fossil fuel firms excluded from government investment and borrowing schemes.