At last, a semblance of common sense and realisation that the frenzied race to achieve net zero is bad for businesses, bad for the public purse and catastrophic for most households.
Giving the go-ahead to the biggest new oil and gas project, Equinor’s North Sea Rosebank field is practical as it will create over 2,000 long term jobs and ensure the UK will have an independent oil and gas supply for decades to come. OPEC is deliberately escalating global oil prices, currently at $100 a barrel, despite weak demand. OPEC is working with Russia, not a member, which is clearly angry with the West. The last thing needed is high oil and gas prices as we endeavour to reduce inflation.
The world cannot operate without oil for the foreseeable future, and we have already made huge inroads towards net zero. The introduction of EVs, heat pumps where suitable, wind farms and solar energy. Also, the unhelpful drive to encourage farmers to reduce crop production and livestock numbers, considered vital by environmentalists but will prove costly and counterproductive.
We do not hear enough about the drive to improve fuel-additives such as Ad-Blue, a niche part of the wider oil industry, which has been around for over 100 years. They optimise fuel use in every respect by reducing visible and gaseous emissions from engines and boilers. They have always contributed to the ‘green’ agenda, but it should be recognised as a by-product of petroleum distillation.
Decarbonisation is important in the transport sector as, unless we go to fully hydrogen fuel source or to fully electric vehicles, then the future fuels mix will always need to contain carbon, regardless of where the fuels have their origins.
Tankers are particularly important because, while domestic vehicles may electrify or go hybrid, haulage will be running on diesel for decades to come and represents a huge portion of vehicle carbon emissions.
So, by reducing the amount of carbon and greenhouse gas released by lorries, tankers, construction vehicles, ships, and rail in the supply chain, this is a key step in any climate strategy. The use of additives which directly target hydrocarbon release, through increasing the efficiency of fuel burned and carbon emissions harmful to the climate, while also saving money by improving fuel efficiency, is a huge part of the solution.
Fossil fuel producers are seen as the cause of climate change and increasing CO2 levels. However, if the fuel produced can be treated to reduce, or eliminate, harmful and toxic emissions, then it does have a long-term future.
Fuel additives will play a key role in providing a credible solution to the oil industry and allow us to drive our diesel vehicles well into the future.