BYM says no to UK’s new largest oil field
'$86 billion: The Vanguard Group’s assets tied up in coal.'
by Rebecca Hardy
3rd March 2023
Britain Yearly Meeting (BYM) has joined two hundred others in writing to the government urging it to reject Equinor’s plans to open the Rosebank oil field.The Norwegian firm wants to develop the largest undeveloped oil and gas field in the British North Sea, northwest of Shetland.
Writing on the Quakers in Britain website, BYM said: ‘Rosebank is 90 per cent oil which is likely to be exported and not lower energy costs in the UK. Equinor is majority-owned by the Norwegian government, but the UK public would carry almost all the costs of development, thanks to a £500 million subsidy from the UK government.’
