Former CEO of the Net Zero Technology Centre, Colette Cohen OBE, and former trade union organiser, Jake Molloy, discuss the evolution of the oil sector in Britain, the challenges of clean energy projects, and the importance of a rapid and just energy transition. They also highlight the significance of the Stannler Refinery, the need for a balanced discussion on oil, and the complexity of transitioning the workforce to renewable energy.
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Quick takeaways
The podcast emphasizes the need for a comprehensive understanding of the UK oil industry and the interconnected nature of its different components including offshore, refineries, trading, and finance in order to drive meaningful change in the face of the climate emergency.
The challenges and demands for change in the UK oil sector are being raised by environmental activists, echoed by various institutions and sectors of society, and require certainty, shared risk, and government support to facilitate a well-managed and inclusive transition process.
Deep dives
The Importance of Understanding the UK Oil Sector
This episode of Tides of Transformation explores the UK oil sector and the need for change in the face of the climate emergency. The podcast begins by discussing the Standler Refinery as a representation of the deep connection between the UK and oil. It highlights that attitudes towards oil have changed over the years, but the industry remains deeply rooted in our communities and economy. The podcast examines the different stakeholders involved, including governments, environmental activists, and the workforce. It also delves into the complexities of the oil industry, such as the distinction between upstream (oil production) and downstream (refining and distribution), and the significance of global oil trading. Overall, the episode emphasizes the need for a comprehensive understanding of the oil industry in order to drive meaningful change.
Challenges and Calls for Change in the UK Oil Sector
The episode focuses on the challenges and demands for change in the UK oil sector. It highlights the efforts of environmental activists, such as Extinction Rebellion, in raising awareness about the need for a comprehensive plan to address climate change. The social activists are advocating for oil to be transformed, and their demands are echoed by various institutions and sectors of society. The episode also discusses the perspectives of experts and industry professionals regarding the transition away from oil. It mentions the importance of certainty, shared risk, and government involvement in incentivizing and facilitating the necessary transition. The conversation touches on the impact on communities, particularly the oil workforce, and the need for a well-managed and inclusive transition process.
Understanding the Interconnected Nature of the UK Oil Industry
One of the key insights from the podcast is understanding the interconnected nature of the UK oil industry. The episode examines the flows and relationships between offshore oil production, refining, trading, finance, and global markets. It explains the parallel systems of exporting offshore oil while importing crude and refined products. The episode discusses factors influencing these dynamics, including the quality of oil, the nature of UK refineries, and the flexibility of shipping. It also highlights the social and political power of the oil industry, exemplified by its influence on governments and cultural institutions. The episode concludes that changes in the UK oil sector are occurring at different speeds, raising questions about future scenarios and the role of various stakeholders.
The Need for a Well-Managed Transition in the UK Oil Sector
The podcast emphasizes the importance of a well-managed transition in the UK oil sector. It highlights concerns about the potential impact on the workforce and calls for certainty, shared risk, and government support. The episode raises questions about the pace and ownership of the transition, advocating for a balanced approach that involves local communities, authorities, and the government. It urges the democratization of the wind energy future and the development of a common wealth of wind, shared by all. The episode concludes that addressing the complexities of the transition requires a comprehensive understanding of the challenges, stakeholders, and interconnected nature of the oil industry in the UK.
This is an episode of Tides of Transformation: An Oil Story, a brand new podcast from Intelligence Squared.
In this episode, Gavin Bridge from Durham University and James Marriott of Platform London and the co-author of Crude Britannia: How Big Oil Shaped a Nation are joined by former CEO of the Net Zero Technology Centre Colette Cohen OBE and former trade union organiser Jake Molloy for a conversation about the evolution of the oil sector in Britain and the different components that comprise it, including the offshore, refineries, trading and finance. Our panelists also explore the differing pace of change across the oil sector, the complexity this creates for the expansion of clean energy projects, and what must be done to ensure a rapid, and just, energy transition.
Other contributors include the co-founder of Extinction Rebellion Gail Bradbrook, Morgan Stanley’s Global Oil Strategist Martijn Rats, and Fuels Industry UK’s Director of Downstream Policy Dr Andy Roberts. The host is Dr Helen Czerski.
For more information about Tides of Transformation: An Oil Story, please visit: https://www.intelligencesquared.com/tides-of-transformation/
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Colette Cohen OBE was CEO of the Net Zero Technology Centre, not the Net Zero Technology Company as stated in the audio.
The UKPIA (United Kingdom Petroleum Industry Association) changed its name in August 2023 to Fuels Industry UK