Profit forecast up at SSE

Barry White

The multinational energy company SSE plc (formerly Scottish and Southern Energy plc) based in Perth, Scotland, has increased its full-year profit forecast after its gas-fired plants and storage sites benefited from higher gas prices reports the Financial Times Weekend (21/22 January) https://www.ft.com/content/a6456d04-3581-422b-9971-4b9d288beb4e . The energy company reported that adjusted earnings were expected to rise to more than 150p a share in the 2022/23 financial year, up from its earlier figure of at least 120p.

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Record heatwaves, deceit and doubts on reaching net zero

Barry White

Monthly temperature records  in 12 European countries were recorded last year according to an analysis undertaken by The Guardian see: https://www.theguardian.com/world/2023/jan/10/twelve-european-countries-broke-temperature-records-in-2022#:~:text=Of%2027%20European%20countries%20analysed,for%20at%20least%20one%20month. In each case, the anomalies were more than 1.9C above the average temperature recorded between 1991 and 2020 for at least one month.

On average, global temperatures were 1.2C above the 1850-1900 average in 2022. While cooler than 2021, it marked another warm year meaning that the years 2015 to 2022 were the eight warmest on record.

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Green washing from BP?

Barry White

If you watched ‘The Oil Machine’ on BBC iPlayer (see last story) https://www.bbc.co.uk/iplayer/episodes/m001gf42/the-oil-machine you may recall a statement by a spokesperson from BP stressing the importance of being part of the transition to a lower carbon economy. He went on to explain (at 43.05 minutes) that they are ‘ramping up’ their investing in non-oil and gas forms of energy.

Imagine my surprise when greeted by the headline ‘BP to invest twice as much in oil and gas as renewables’ (The Guardian 27 December 2022). The article by Energy correspondent Alex Lawson went on to explain that the company had earmarked up to $7.5bn (£6.2bn) for oil and gas projects, compared with a range of $3bn to $5bn for green energy see: https://www.theguardian.com/business/2022/dec/27/bp-plan-spend-billions-fossil-fuels-green-energy-oil-gas-renewables.

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Time off – why not watch ‘The Oil Machine’?

Barry White

In this festive season please find time to watch Emma Davie’s documentary film ‘The Oil Machine’. It’s very educational, covering the historical background as well as the environmental ramifications of oil drilling in the North Sea. It gives interviews with those from both sides of the issue, including environmental experts, executives of oil corporations as well as student activists. The film illustrates just how the black gold permeates every aspect of our lives.

You can read a review of the film (which is now in some cinemas) at: https://www.theguardian.com/film/2022/nov/01/the-oil-machine-review-timely-documentary-details-our-dependence-on-black-gold and watch it at: https://www.bbc.co.uk/iplayer/episodes/m001gf42/the-oil-machine .

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Photo: Mick Holder NUJ.

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