The UK aims to maximize domestic oil
and gas production and curb the spread of onshore wind farms as the government
leans toward maintaining energy security over cutting carbon emissions.
The measures form part of an Energy
Bill announced by Queen Elizabeth II in a speech to Parliament in London on
Wednesday that outlines the first legislative program of Prime Minister David
Cameron’s majority Conservative government.
UK oil production was enough to meet
about 56% of domestic demand last year, with a similar proportion for gas,
according to the government. Even so, a drop in oil prices of more than 40% in
the past year rendered as much as a third of UK fields uneconomic, BP Plc CEO
Bob Dudley said in February. That’s led to government tax cuts to shore up the
industry amid warnings that thousands of jobs may disappear... (worldoil)
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