A recent analysis has sparked debate over the development of the Rosebank and Jackdaw oil and gas fields in the North Sea. The study, which utilizes peer-reviewed research on the economic impacts of rising global temperatures, argues that the carbon emissions resulting from these projects would lead to substantial financial losses for the global economy. Specifically, the report projects that the climate damage caused by the fields could range between £119bn and £336bn over the coming decades.

These figures stand in stark contrast to the economic projections provided by Adura, the fossil fuel company advocating for the projects. Adura has estimated that the fields would generate approximately £28.7bn in value for the UK. The analysis suggests that when the broader environmental costs are factored in, the projects represent a net economic loss rather than a gain. The UK government is currently considering whether to approve the development of these fields, a decision that remains a point of contention between environmental advocates and industry proponents. While the analysis focuses on the long-term global impact of carbon pollution, it does not account for potential shifts in energy market prices or the specific domestic energy security arguments often cited by the government as reasons for supporting new North Sea exploration.