30 Mar '12, 1am

As @CraigBennett3 just said, Osborne should u-turn on massive tax breaks for oil & gas announced at Budget

Tax breaks for oil and gas unveiled in last week's Budget could result in an extra year's worth of emissions, putting pressure on other sectors to cut harder and faster if the UK is to meet its mandatory carbon budgets. Figures compiled by campaign group Friends of the Earth (FOE) show over 495 million tonnes (MT) of CO2 are likely to be emitted as a direct result of the measures, well in excess of the 456MT government figures show the UK emitted last year . FURTHER READING UK emissions fall seven per cent as renewable energy soars Green Budget 2012 - All the latest This number is the approximate impact of the 1.7 billion barrel equivalent of oil and gas expected to be extracted as a result of the tax break for decommissioning announced in the Budget, according to industry body Oil & Gas UK (OGUK). This represents over three years' worth of oil consumption, assuming demand...

Full article: http://www.businessgreen.com/bg/news/2164797/exclusive-bu...

Tweets

UK emissions fall seven per cent as renewable e...

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Going all out this year... :D

Going all out this year... :D

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