Skip to main content
North Sea

Coronavirus Brings North Sea Oil's Need for a Just Transition Into Focus

With the Bank of England and the US Federal Reserve pumping enormous sums into financial markets in response to the crisis, the immediate decisions taken now about how the North Sea functions in a world of prolonged oil price instability, will have major implications. 

Last year, an alternative was suggested by Johanna Bozuwa and Carla Skandier of Democracy Collaborative, in a paper for Common Wealth. They point out that central banks could, for a fraction of the outlay involved in fiscal stimulus programmes, purchase majority stakes in fossil fuel companies:  

Answerable to the public and without the growth imperative, the government would be much better poised to manage their decline by directly cutting fossil fuel production from existing and under development sites in accordance with a 1.5 C global heating rise limit – as well as stopping new developments that are clearly outside the carbon budget,” they argue. 

Read the entire article at DeSmog UK.

Publication date: 2020-04-14
Parent publication: DeSmog UK
Publication URL: https://desmog.co.uk/2020/04/14/coronavirus-brings-north-sea-oil-s-need-just-transition-focus

More related work

June 3, 2020
George Floyd mural: I Can't Breathe

On the murder of George Floyd and the crisis engulfing our nation

We add our voices to the growing chorus of those insisting that without justice there can be no peace. This moment causes us to redouble our commitment to the fundamental belief that we must bring about deep systemic change.

read more
June 1, 2020
Default Image

Data Analysis Intern, Healthcare Anchor Network - Washington, D.C. (Possible remote work until re-opening of office)

The Democracy Collaborative (TDC) is hiring for a DC-based, part-time (up to 20 hours per week), paid intern position to support the work of the Healthcare Anchor Network (HAN). The internship will focus on maintaining and analyzing a database related to tracking the impact healthcare institutions can have on the social and economic wellbeing of communities.

read more
June 1, 2020
Default Image

Policy Intern, Healthcare Anchor Network - Washington, D.C. (Possible remote work until re-opening of office)

The Democracy Collaborative (TDC) is hiring for a DC-based, part-time (up to 20 hours per week), paid intern position to support the work of the Healthcare Anchor Network (HAN).

read more