Thu 10 Sep 2026
FTSE 100 10,664.08 -1.55%Microsoft 491.65 -1.87%NVIDIA 223.67 +2.87%Apple 315.34 -3.01%Google 328.38 -1.10%S&P 500 7,636.36 +0.06%Nasdaq 26,253.34 +0.59%Dow 52,380.66 -0.73%Russell 2000 2,921.23 +0.04%US 10Y Treasury 4.84% +0.85%Euro Stoxx 50 6,315.41 -1.21%DAX 25,553.99 -1.73%AEX-Index 1,100.27 -1.19%Nikkei 225 65,270.95 +0.38%Hang Seng 24,960.58 -1.00%Gold $4,456.10 +0.59%Silver $67.99 +2.93%Brent Crude Oil $101.26 +5.17%Natural Gas $2.79 -6.12%Copper $6.85 +3.80%GBP/USD 1.3549 +0.13%GBP/EUR 1.1638 +0.03%GBP/AUD 1.8786 +0.01%Bitcoin (USD) $78,087 -2.82%Ethereum (USD) $2,470 -1.77%FTSE 100 10,664.08 -1.55%Microsoft 491.65 -1.87%NVIDIA 223.67 +2.87%Apple 315.34 -3.01%Google 328.38 -1.10%S&P 500 7,636.36 +0.06%Nasdaq 26,253.34 +0.59%Dow 52,380.66 -0.73%Russell 2000 2,921.23 +0.04%US 10Y Treasury 4.84% +0.85%Euro Stoxx 50 6,315.41 -1.21%DAX 25,553.99 -1.73%AEX-Index 1,100.27 -1.19%Nikkei 225 65,270.95 +0.38%Hang Seng 24,960.58 -1.00%Gold $4,456.10 +0.59%Silver $67.99 +2.93%Brent Crude Oil $101.26 +5.17%Natural Gas $2.79 -6.12%Copper $6.85 +3.80%GBP/USD 1.3549 +0.13%GBP/EUR 1.1638 +0.03%GBP/AUD 1.8786 +0.01%Bitcoin (USD) $78,087 -2.82%Ethereum (USD) $2,470 -1.77%
Markets
Advertisement
Follow News in 60 on Facebook
UK Weather
London 14°C OvercastBirmingham 11°C OvercastManchester 10°C OvercastNewcastle 13°C Partly CloudyBristol 11°C OvercastPembroke 15°C OvercastEdinburgh 13°C OvercastBelfast 12°C Patchy rain nearbyInverness 9°C OvercastPenzance 17°C Partly CloudyHolyhead 15°C Partly CloudyNorwich 15°C Overcast
More Info

Labour’s North Sea Drilling Decision: A Costly Gamble

Advertisement
Follow News in 60 on Facebook

Labour’s potential approval of new oil drilling in the North Sea raises critical questions about environmental priorities and economic rationale. With climate change impacts looming, this decision seems to risk significant political capital for minimal economic benefit. The Jackdaw gasfield, for example, is projected to create just 27 full-time jobs, while the Rosebank oilfield is expected to generate only 450 jobs throughout its lifetime. In contrast, the UK’s green economy is already employing over 300,000 people, highlighting a stark misalignment in Labour’s job creation strategy.

The government argues the need for energy security and support for struggling workers, but the reality is that these new fields will offer negligible contributions to energy supply and consumer costs. As the UK grapples with pressing climate challenges, investing in fossil fuels undermines its credibility on the international stage, weakening its negotiating power in global climate talks. This approach not only contradicts Labour’s stated environmental goals but also risks alienating voters who prioritise climate action.

Moreover, the approval could backfire politically, energizing opposition parties and disillusioned constituents who may turn to progressive alternatives. The growing frustration within the party suggests that Labour’s strategy might be misjudged, as it fails to resonate with an electorate increasingly concerned about climate issues. The decision could act as a catalyst for voters seeking representatives who will genuinely commit to sustainable policies.

In this context, Andy Burnham’s rationale appears increasingly untenable. If the intention was to appease critics or bolster political support, the gamble may instead deepen Labour’s divisions and erode public trust. As the impacts of climate change become ever more apparent, voters are likely to demand accountability and a clear commitment to a sustainable future, not more fossil fuel ventures.

Source: The Guardian

Read more Politics news →

News Category: Politics Tags: burnham, climate, labour, oil, politics

Leave a comment

Your email address will not be published. Required fields are marked *