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Post by gibroon on Oct 5, 2024 0:06:02 GMT
Yes, that would make sense as it gives them time to feasibly come up with a plausible possibility of it working. There are O&G companies making a road map of getting to net zero by 2050. The main part of that is getting their workers to move to EV cars by 2035, which just so happens to be the UK mandate for ICE cars to be phased out. After that, they have no idea. It is very much kicking the can down the road and crossing lots of fingers and toes for the rest of it.
Looking at how Chinese EV cars are going to get taxed heavily by EU, it also appears to be trying to save the legacy motor companies who are a bit behind in tech and design, all the time making EV car ownership more expensive for people. Norway have done an amazing job of transitioning. It is a smaller country but they have managed it all extremely well.
My cynicism comes from thinking over half that £22 billion will be going to upper management, CEOs and shareholders.
This is the way.
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Post by Wizzard_Ook on Oct 5, 2024 7:36:36 GMT
Did anyone see the 22.1 billion pound investment that Labour announced for carbon capture? It's a bit galling that there's a black hole in the budget of 22 billion but the tax payer is going to fund the oil and gas industry for this. Yes, the industry that pumps ludicrous amount of shit into the atmosphere are needing help to clean up there act. This is absolutely absurd. The whole idea is fundamentally flawed and very much a back of a fag packet idea that many scientists think is unobtainable for the proposed gain but makes it look like the oil and gas industry is giving a shit. Ridiculous. I don’t know the scope of it all, but by the sounds of it they’re putting in a lot of money across the board when it comes to green tech whether it be wind, solar, etc or into Lithium processing or energy storage. A lot of projects over the last couple of months have been given money from investment banks and given NCIS status (basically meaning they don’t have to go through local planning). I work for a Lithium exploration company and I know at this stage of a government tenure, there’s a lot of shoulder patting and making people feel good, but my sense is that they are trying to kick start a green technology drive and make that a fairly big part of their overall economic strategy. I think a big issue is that we’re massively behind on industrialisation when it comes to green tech and to make energy you have to use energy and if you want to reach those targets that offset of carbon has to go somewhere. So it isn’t a one or the other thing. I don’t really know much about carbon capture, but yeah it seems very expensive and 9/10 CC projects seem to fail. Seems a odd thing to have a glitzy policy announcement with big numbers, the PM and Chancellor attending, as it seems from what I heard is that they are attentive to other green areas.
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Post by Reviewer on Oct 5, 2024 7:55:17 GMT
Having seen the impact of the budget panic on some contracts that should’ve happened, I’m sure spending slightly less on this and pushing more into the renewable market to deal with would have been a better plan.
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