‘How long can we put off the inevitable?’
Ministers urged to nationalise North Sea fossil fuels to prevent massive taxpayer bailout and a just transition when the reserves run dry
The Oil platform Stena Spey is moved with tug boats amongst other rigs which have been left in the Cromarty Firth near Invergordon in the Highlands of Scotland, February 2016
MINISTERS have been urged to nationalise North Sea oil and gas production to prevent a massive taxpayer bailout when reserves run out in 14 years time.
Unite urged ministers to “step up” today after experts warned it would “be reckless in the extreme” not to act to avoid a catastrophic cliff-edge collapse of the industry.
A report by the Common Wealth think tank warned that the government has about 14 years to act before reserves run out at current production levels.
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But Unite warns that Labour has ‘missed a golden opportunity to bring the national grid under public ownership’