Discover and read the best of Twitter Threads about #Cambo
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➡️ 🛢️ NEW: The UN climate envoy, Mark Carney, is a senior leader at an investment firm which owns a key piece of infrastructure set to be used at a controversial new oil field in the North Sea.
theferret.scot/carneys-firm-i…
theferret.scot/carneys-firm-i…
Campaigners said The Ferret’s findings “make a mockery” of Carney’s role as a climate figurehead. They also questioned how global climate leadership can be trusted to be “unbiased and sufficiently ambitious” when key leaders have such close links to the fossil fuel industry.
Carney — who was governor of the Bank of England between 2013 and 2020 — is the UN’s special envoy on climate action and finance. He joined Canadian investor Brookfield in 2020 as vice-chair and head of transition investing.
I know I've already said it, but this is genuinely HUGE NEWS and shows that the writing is on the wall for new oil and gas developments in the UK, starting with #Cambo. These developments can't be defended on climate OR economic grounds.
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There's no room for new oil and gas developments in a liveable climate and a world where we limit warming to 1.5°C. The science couldn't be clearer. The International Energy Agency has said it, the UN has said it, @PriceofOil and others have been saying it for years.
The economics of these projects are also hopeless. The vast majority of oil and gas reserves will be stranded assets in a 1.5°C world. @CarbonBubble and others have put that beyond doubt.
It’s (way past) time to scrutinise claims that oil from the #Cambo oil field will be used to meet domestic energy demand in the UK.
In short, it is overwhelmingly likely to be exported.
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In short, it is overwhelmingly likely to be exported.
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Oil from Cambo is a heavy crude--sticky gloopy stuff--that's in v low demand. It's not high grade which is partly why it's taken 20+ yrs for the licence-holders to extract it. UK refineries don't buy a lot of Cambo-type oil & aren't set up to turn large amounts into anything...
...domestically useful. BUT let's be generous and assume that Cambo has the same chance as any other domestically-extracted oil of ending up in the UK supply chain.
