Explainer-in-brief: A Net Zero torpedo in a fresh energy policy
The government’s energy strategy has been postponed for another week. Boris Johnson has been forced to rethink his approach to net zero, as the urgency of moving away from Russian gas has changed cards on the table.
Johnson will pay a visit to Saudi Arabia and the Gulf this week to try and convince regional leaders to increase oil production. But even then, the new energy strategy is billed as a plan to make Britain an energy-independent country. For that, we’ll need North sea oil and gas.
This is one of the factors delaying the new plans as climate compatibility checkpoints rub up against the energy crisis. Currently, contracts that don’t follow the net zero agenda are blocked.
Government lawyers will be working hard to try and square the circle allowing more projects in the North Sea without breaking the net zero playbook.