• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 29 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 14 hours "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 6 hours Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 2 days Did China cherry-pick the factors that affected the economic slow-down?
  • 15 mins Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 18 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 21 hours Are you aware of Oil Price short videos on our energy topics?
  • 38 mins The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 1 day Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 1 day NordStream2
  • 411 days Class Act: Bet You've Never Seen A President Do This.
The Commercial Case For Green Hydrogen

The Commercial Case For Green Hydrogen

Hydrogen, especially green hydrogen, has…

Goldman: UK Set To Announce Billions Of U.S. Dollars To Support Climate Goals

The UK could announce next month billions of U.S. dollars of additional spending on supporting its net-zero targets as part of a broad budget of $83 billion (£60 billion), Goldman Sachs says.

The UK, the first developed nation to enshrine a net-zero by 2050 target into law, wants to lead the world in tackling the effects of climate change and preparing the business and industries for low-carbon energy.

Due to a lower budget deficit earlier this year, the UK could announce more spending in the fall budget announcement next month, Steffan Ball, Goldman Sachs’s chief UK economist, wrote in a note carried by Bloomberg.

“We expect Prime Minister [Boris] Johnson and Chancellor Sunak to take advantage of this headroom, given they have both the political incentive and the parliamentary support to make substantial progress on the ‘leveling-up’ agenda,” Ball wrote.

As much as $41.5 billion (£30 billion) of the potential additional spending could be earmarked for actions to reach net-zero emissions by 2050, as well as skills and training, and digital connectivity, Goldman’s Ball says.

Despite the “The ten point plan for a green industrial revolution” which the UK launched in November 2020 to “to build back better, support green jobs, and accelerate our path to net zero,” the government has not invested as much in this green revolution in the March 2021 budget, environmental group WWF said in an analysis last month.

WWF’s study found that the March 2021 Budget had a clear ambition gap. “It would cost less than 1% of GDP per year to build a clean, safe, prosperous future for the UK, but climate change mitigation measures in the Budget added up to just 0.01% of GDP,” the group said.

“The latest Budget simply doesn’t add up to the cleaner, greener future we all want to see. To turn things around, ministers must close the gap between their climate commitments and their spending plans, by adopting a Net Zero Test for all government spending ahead of the UK-hosted COP26 climate summit in November,” said Isabella O’Dowd, head of climate change at WWF.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Hugh Williams on September 04 2021 said:
    A pity, spending a fortune on an imaginary problem. In the book UNSETTLED: WHAT CLIMATE SCIENCE TELLS US, WHAT IT DOESN´T & WHY IT MATTERS by Dr. Steven Koomin, former Chief Scientist of the Department of Energy. The greenhouse effect takes place when the amount of energy radiated from the earth decreases causing the earth to warm up. Data shows that a 100% increase in carbon dioxide may cause a small temperature increase on the earth in eighty (80) years. One of the difficult areas is how much total energy from the sun reaches the earth. The energy spectrum runs from atomic particles to infrared and seems to have increased.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News