Oil giant Equinor faces backlash for huge profits and green cuts amid the cost of living crisis and Rosebank delays.
Since the cost of living crisis, they made £140 billion. Activists accuse them of profiting from this crisis. A judge blocked Equinor’s Rosebank oil plan, ruling it unlawful near Shetland, suspending drilling.
Chancellor Reeves might approve Rosebank again. This is the North Sea’s largest untapped reserve, and she wants to boost the economy. Protesters gathered at Equinor’s Aberdeen office to oppose the profits and Rosebank’s plans.
Equinor plans a gas power station in Peterhead, partnering with SSE on this project. The North Sea Knitters protested at the office, opposing fossil fuel expansion by knitting.
The Knitters said Equinor values wealth over the planet. They are heartbroken as mothers and grandmothers. Friends of the Earth says firms like Equinor chase profit, ignoring the energy transition.
Equinor wants to reduce spending on renewables, adjusting “ambitions to realities” now. Uplift says Equinor wants profit at all costs, expanding oil projects but cutting renewables plans.
They do this despite climate issues. This choice burdens people with extreme weather. Uplift says Rosebank should not be developed, and the courts ruled Rosebank unlawful very recently.
Rosebank will not fuel British cars, but it will boost the Norwegian government’s fund. Rosebank’s oil mostly exports to the global market. It will not lower UK energy bills.
Warm This Winter said many struggle with fuel poverty, with energy bills up by £700 for people. These profits reveal firms want fossil fuels. They also have billionaire supporters.
Equinor’s CEO says they cut production emissions. They build profitable low carbon businesses, aiming for net zero emissions by 2050. They adapt to the market to make money.
