The U.K. has announced a ‘Landmark Deal’ to drill new wells in the North Sea securing the future of U.K. oil and saving thousands of jobs while calling net-zero promises into question. The U.K. government has approved new licenses for the drilling of more wells in the North Sea, saying their aim is compatible with the transition away from fossil fuels. The deal strives to better safeguard the British economy as well as oil industry jobs. This comes just weeks after the Financial Times stated that in 2020 oil and gas company spending in the U.K. North Sea fell to its lowest level since 2004 , spending around £3.4 billion ($4.6 billion) less than in 2019. Drilling activity also fell to levels not experienced since the 1970s. While environmentalists have criticized the move, the government insists that ‘Climate Compatibility Checkpoints’ will measure the national demand for oil and gas, […]