UK taxpayers face multi-billion burden for dismantling of North Sea rigs

[northernladyuk]

#indyref2

[original PM]

How the flying flip can it possibly cost anything like that much?

Just cap off the oil or gas pipes and turn the rigs into high-security prisons. Sorted.

Or even 'hipster' holiday destinations....

just put a decent coffee shop, vegan restaurant, barber and ensure there is enough wifi to go round and you have winner

[OwlHoot]

How the flying flip can it possibly cost anything like that much?

Just cap off the oil or gas pipes and turn the rigs into high-security prisons. Sorted.

[AtW]

"British taxpayers face paying billions of pounds more than previously expected for dismantling the North Sea’s oil rigs in a further sign that the industry is becoming a burden on public finances.

Decommissioning oil and gas facilities across the UK continental shelf will cost an estimated £59.7bn, according to a report by the Oil and Gas Authority (OGA). About half of that will be borne by oil companies, the rest by the public purse through tax relief.

The figure is even higher than a recent estimate of £53bn by the energy experts Wood Mackenzie and the business department’s previous estimate of £52bn.

The OGA, a government regulator, said that in its worst-case scenario the bill could jump to £82.7bn. However, the authority said it had set the industry a target of cutting costs by 35%, which it hoped could see the cost drop below £39bn."

https://www.theguardian.com/business...north-sea-rigs

Oh FFS, tax relief isn't the same as funded, especially in this case FFS - it the Treasury was not so greedy under Brown those fields would generate lots more dosh.