No change without the oil industry

oil

It’s just as well because efforts here in Scotland to build an energy transition movement and creating a viable, large-scale renewables or net-zero manufacturing supply chain have so far – with one or two exceptions – failed and the number of jobs forecast 10 years or so ago have simply not materialised.

It also now seems likely that the chances of achieving any meaningful improvement in that situation are low. A combination of the huge political uncertainty surrounding relations with the EU and the traditional UK issues of short termism, risk averseness and the lack of availability of investment capital don’t help.

There is also little doubt that we continue to suffer from not having a national champion in the same way Norway has Equinor, Denmark has Orsted, France has EDF, Sweden has Vattenfall, and so on. All of these and others are either wholly or majority owned by their respective governments and are used by them to achieve their industrial and economic objectives. In some countries companies also tend to be naturally inclined towards industrial nationalism even though they are not state owned. I have often thought that every US oil and gas operator seemed to act as an ambassador for American industry.

These national champions play a vital role in encouraging and enabling the development of their indigenous supply chains through collaboration, involvement in projects and, sometimes, direct funding. And – to be blunt – our lack of state-owned companies is an ideological issue which has not played at all well for the UK.

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Source: Energy Voice

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