-
Most Asian stocks track Wall St rally, yen drops after BoJ rate hike
-
Pakistan court blocks expulsion of Afghan medical college students
-
Russians begin voting in controlled election as war drags on
-
Athletes 'can't take it any more' as Asian Games issues mount
-
Trump 'clearly' wants dialogue with Pyongyang: South Korean President
-
Allen lights up Bills' new stadium with 41-31 win over Lions
-
Bank of Japan hikes rates to 31-year high to battle inflation
-
Afghan medical students in Pakistan hope court stops college expulsions
-
Thailand's Muslim separatists vow to fight to the end
-
AI doomsday warnings unlikely to slow IPOs but questions linger
-
Mideast turmoil, AI set to dominate UN gathering of world leaders
-
ICC eyes China in bid to expand cricket
-
Australia to detain tourists who overstay visa, minister says
-
Nkunku craving freedom and fun on RB Leipzig return
-
Championship rivals brace for renewal of bitter feuds
-
Bhutan's traditional archers lose ground to development
-
In Brazil's Amazon, the hunt for oil fuels hopes and fears
-
Asian stocks track Wall St rally as oil prices drop
-
Australian athlete who soiled herself apologises for continuing Hyrox race
-
South Korea makes Asian Games complaint over Japan warlord ceremony
-
Baby orangutans in India expose 'frightening' scale of trafficking
-
US aid cuts are killing Kenyan sex workers
-
Doom Loop? Ed Sheeran struggles against Gaza tide
-
October 7 survivors, families take centre stage in Israel vote
-
Sudanese women hold fast to threatened henna body art
-
Captain Mat Ryan axed from Socceroos squad for Brazil games
-
Man Utd misery puts Carrick under pressure, Spurs feeling the heat
-
US approves sale of 48 F-35 jets to Saudi Arabia
-
Prized Mexican relic returns on loan, two centuries on
-
Juventus, Palace cruise to Europa League wins, Bournemouth beat Sociedad
-
Venezuela unblocks some censored news sites
-
Stocks climb as oil retreats, Fed calms inflation fears
-
Samba stars on debut in Man City rout of Norwich
-
Russians begin voting in controlled election as war drags
-
Oversight Board blasts 'inadequate' Meta safeguards for AI deepfakes
-
Hispanics feel 'betrayed' on immigration, Republican warns Trump
-
The Easter Island origins of buzzy Malkovich drama 'Wild Horse Nine'
-
High-scoring Bears face Vikings in battle of NFL unbeatens
-
Third body recovered after Grand Canyon flash flood
-
'In our lane': Fed's Warsh defies Trump but still fighting for credibility
-
Harry makes first public appearance since return to UK
-
Trump admin makes major cut to endangered species protections
-
Abhishek hits record T20 ton as India sweep series 3-0
-
Princess Diana's brother makes new explosive claims against Charles
-
Abhishek hits record T20 ton as India sweep T20 series 3-0
-
Ovechkin on Russian political video: 'I support my country'
-
English FA calls for Infantino to release World Cup sell-off documents
-
Can we shut down AI?
-
GM delivers first components for US interceptor missiles
-
Teenager Sullivan named in new-look US squad
The reality of restarting North Sea oil drilling
As the Middle East war drives up oil prices, the UK's main opposition Conservative party is urging the government to restart drilling in the North Sea -- echoing repeated calls from US President Donald Trump.
Experts warn, however, that the proposal runs up against geological and economic realities.
- Why call for North Sea drilling? -
The Conservatives, who are heavily outnumbered in parliament, are preparing legislation aimed at removing barriers to oil and gas drilling in the North Sea, in order to facilitate access to domestic fossil fuel resources.
They echo Trump's repeated criticism of Britain's Labour government for failing to sufficiently exploit offshore reserves, even as the UK faces some of the highest energy prices in Europe.
"Go get your own oil!" Trump again urged on Tuesday in a post on Truth Social, without explicitly naming any country.
"Drilling in the North Sea and expanding other sources of generation" is the "only way we can protect families from rising bills, keep the cost of energy down for business, and control inflation," Conservative leader Kemi Badenoch wrote in a blog post.
The Labour government, meanwhile, has pledged to halt new exploration licences in the North Sea for environmental reasons, although it slightly softened its policy in November.
- What would be the impact? -
While supporters argue that restarting drilling would strengthen security and energy independence, experts interviewed by AFP emphasised major constraints for both oil and gas.
The area that "the UK has access to is a very mature, depleted basin," Tessa Khan, an environmental lawyer, told AFP.
"The productivity of that -- in terms of how much you could extract from it -- peaked in the late 1990s and it's been in decline ever since," she added.
Structural limits also apply, as production cannot immediately be redirected to domestic consumption.
"The UK is part of oil and gas international markets, and we have to remain part of these markets because we need to import," said Simon Cran-McGreehin, an analyst at the Energy and Climate Intelligence Unit, a non-profit research group.
Prices are set on these markets according to supply and demand, and the UK's low level of production has little, if any, impact on them.
"Bringing in new production takes years, which means that any new oil and gas would arrive long after the crisis has passed," the UK Energy Research Centre said in a recent briefing.
- What are the other solutions? -
The quest for energy independence has returned to the forefront since the start of the Middle East war, as it did after Russia invaded Ukraine in 2022, which sent gas prices soaring.
Two options are often put forward by experts: reducing fossil fuel consumption and significantly expanding renewables.
"The UK has one of the biggest offshore wind markets in the world," Khan said.
"We already have a backlog of renewable energy projects that are waiting for grid connections," and the timelines are potentially "much shorter" than for fossil fuel projects.
Renewables also offer stronger job creation prospects.
According to a study by Robert Gordon University in Aberdeen released last year, the workforce in the oil and gas sector could be cut in half by the early 2030s, while jobs in renewables are projected to nearly triple by 2035.
T.Germann--VB