<
https://www.theguardian.com/environment/2023/aug/01/billionaire-investor-threatens-pull-out-uk-global-outcry-oil-rush-andrew-forrest>
"The billionaire Australian mining tycoon and investor Andrew Forrest has led
international condemnation of the UK’s new oil rush, saying he would pull his
major investment from the country if the prime minister pursued “clickbait”
fossil fuel policies.
The iron ore magnate, who also runs the Minderoo Foundation philanthropic
organisation, threatened to move his investments out of the UK over Rishi
Sunak’s swivel towards new oil and gas drilling.
“I am a major investor here,” Forrest told
Bloomberg News on a visit to
London. “If I see this country steering itself over a cliff backing fossil
fuel, I am going to start pulling out. I will push my investments over to North
America … I must invest where I know I have proper leadership, not leadership
which is on a clickbait cycle.”
Forrest, one of the wealthiest people in Australia, is a major proponent of
green hydrogen where the power is produced from renewables. His Fortescue
Future Industries investment vehicle has a cash mountain of billions of dollars
and has signed a major deal with JCB, as well as building a factory to produce
batteries and electric powertrains for heavy industry vehicles and trains in
Oxfordshire.
The prime minister’s announcement that more than 100 new oil and gas drilling
licences would be granted for the North Sea in the autumn has sparked
condemnation from climate scientists, energy experts and some within his own
party.
The push for oil and gas is in direct conflict with international experts
including those at the International Energy Agency and the International
Institute for Sustainable Development who say oil and gas exploration must stop
if the world is to stay within safe limits of global heating and meet the goal
of net zero emissions by 2050.
The return to fossil fuel drilling puts the UK at odds with a string of
European countries including Ireland, Denmark and Spain, who have already
announced bans on new oil and gas exploration in order to tackle climate
breakdown."
Cheres,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
