Environmental campaigners have made the Treasury their latest target in response to the recent approval of a North Sea gas field.
Four members of the Just Stop Oil group sprayed red paint over the UK Government building, claiming the department has “blood on their hands”.
The group has acknowledged the action, which was sparked by the approval of Shell’s Jackdaw project, will likely lead to arrests for criminal damage.
The London-listed oil giant (LON: SHEL) was given the go ahead to progress with the development of the field earlier this month.
At its peak, Shell says Jackdaw, which contains between 120 and 250 million barrels of oil equivalent, could account for 6.5% of UK gas.
First production is on the slate for Q3-Q4 2025, and as much as half a billion pounds could be spent in the UK as a result of the project.
In addition to the approval of Jackdaw, Just Stop Oil is also taking umbrage with Westminster’s drive to increase investment in oil and gas.
Announced as part of the energy profits levy, or windfall tax, the increase in investment relief rewards companies for spending money on North Sea projects.
It is hoped the mechanism will aid efforts to bolster energy security following Russia’s invasion of Ukraine.
But campaigners claim it will cost the Treasury up to £5.7bn, money that could have been used to insulate at least 2 million homes.
Louise Harris, 24, from Luton, Bedfordshire said: “I’m taking action today because our government has blood on its hands. Kwasi Kwarteng has just approved the Jackdaw gas field, despite the UN’s latest warning that new fossil fuel investment is ‘moral and economic madness’.
“Rishi Sunak is allowing the cost of living crisis to drive millions of people into fuel poverty and giving handouts to fossil fuel companies who are raking in billions in profit and knowingly destroying our future.
“The government is actively planning the death of billions of people due to climate catastrophe – both now and in future, while young people like me who are resisting this genocidal madness are branded as criminals.”
The Treasury isn’t the only building to be targeted by Just Stop Oil in recent weeks.
A UK Government base in Edinburgh suffered a similar fate just hours after news broke that Jackdaw has been approved.
Nine members of the group threw paint over the entrance of Queen Elizabeth House, demanding an end to all new North Sea oil and gas licences and consents.
Xanthe Wells aged 18, from Oxford said: “Kwasi Kwarteng recently stated that the government had started funding offshore wind energy, and that renewable energy is better and more cost effective. So why does the government continue to encourage oil and gas developments that will take us well beyond safe climate limits and will condemn billions to death through fuel poverty, air pollution and climate collapse? This is genocidal. We have no future, we have been betrayed.
“If we stop new oil today, the UK has 8 years of oil and gas reserves left, time enough to safely transition to renewable energy whilst making sure workers are not left behind. The UK could easily commit to being 100% renewable energy by 2030. That is what Germany is doing. If the UK Government are climate leaders like they claim, they need to start taking emergency action.”
Rory Hooper, aged 17, from Wales said: “We may be young, but we know what our future holds and how people around the world are suffering already. Scientists are telling us it’s now or never, so if the government won’t act like that’s the reality then we will. We are not here today appealing for government action – we are demanding it and we won’t stop until the government makes a commitment to no new oil and gas projects in the UK.”
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