WEBVTT FILE 1 00:00:02.000 --> 00:00:07.000 Downloaded from YTS.MX 2 00:00:08.000 --> 00:00:13.000 Official YIFY movies site: YTS.MX 3 00:00:24.000 --> 00:00:25.680 This is made of oil. 4 00:00:25.680 --> 00:00:27.040 This is made of oil. 5 00:00:27.040 --> 00:00:28.440 This is made of oil. 6 00:00:28.440 --> 00:00:30.120 This is made of oil. 7 00:00:30.120 --> 00:00:31.440 This is made of oil. 8 00:00:31.440 --> 00:00:32.760 This is made of oil. 9 00:00:32.760 --> 00:00:34.240 This is made of oil. 10 00:00:34.240 --> 00:00:36.120 This is also made of oil. 11 00:00:36.120 --> 00:00:38.040 TOY PLAYS ARABIAN MUSIC 12 00:01:01.760 --> 00:01:05.760 200 million years ago, there was land here, not sea. 13 00:01:22.280 --> 00:01:24.040 200 million years ago, 14 00:01:24.040 --> 00:01:27.520 a layer of plants and animals were squashed under rocks. 15 00:01:30.040 --> 00:01:31.800 These now become oil. 16 00:01:49.760 --> 00:01:52.360 You know, humans have been on the planet for what, 17 00:01:52.360 --> 00:01:54.280 200,000, 300,000 years? 18 00:01:54.280 --> 00:01:56.960 Modern humans for 10,000 years. 19 00:01:57.960 --> 00:02:02.520 The Industrial Revolution only started in 1850 and onwards. 20 00:02:02.520 --> 00:02:05.520 And, actually, the fossil fuel-driven society 21 00:02:05.520 --> 00:02:09.040 has probably really only been 100 years at most. 22 00:02:17.040 --> 00:02:19.760 It's just a blip in the history of humankind. 23 00:02:26.400 --> 00:02:29.520 But that blip in the history of humankind, where we've completely 24 00:02:29.520 --> 00:02:32.040 locked ourselves in and completely normalised 25 00:02:32.040 --> 00:02:35.280 the huge uses of both energy and particularly fossil fuels... 26 00:02:37.400 --> 00:02:41.040 ..that period is going to have impacts for centuries 27 00:02:41.040 --> 00:02:42.760 and millennia to come. 28 00:02:54.040 --> 00:02:58.040 It can feel like you're up against something that's so massive, 29 00:02:58.040 --> 00:03:00.280 that's got the support of governments 30 00:03:00.280 --> 00:03:03.040 and people who are so much more powerful than you... 31 00:03:04.040 --> 00:03:06.280 ..that it's quite difficult sometimes 32 00:03:06.280 --> 00:03:08.520 to know what to do to change that. 33 00:03:09.520 --> 00:03:12.280 I think that's basically what eco anxiety is... 34 00:03:13.280 --> 00:03:16.040 ..being constantly worried... 35 00:03:16.040 --> 00:03:19.040 ..about whether or not you're going to have a future. 36 00:03:21.200 --> 00:03:23.240 WIND HOWLS 37 00:03:42.760 --> 00:03:46.760 Somewhere between ten and 20 billion barrels of oil are still available 38 00:03:46.760 --> 00:03:48.440 in the North Sea. 39 00:03:50.040 --> 00:03:52.760 If all of that was found and combusted, 40 00:03:52.760 --> 00:03:55.360 so that's going to be somewhere, very approximately, 41 00:03:55.360 --> 00:03:58.280 between say four and ten billion tonnes of carbon dioxide. 42 00:03:58.280 --> 00:04:00.760 That is a huge amount of carbon dioxide 43 00:04:00.760 --> 00:04:04.000 just from, remember, the North Sea, the UK's North Sea. 44 00:04:42.040 --> 00:04:46.520 Britain has been defined by the North Sea. 45 00:04:55.040 --> 00:04:59.040 In the beginning, companies from all around the world 46 00:04:59.040 --> 00:05:04.040 came and invested huge sums in the search for oil and gas. 47 00:05:20.920 --> 00:05:24.360 Nobody thought that there would be any oil in the North Sea - 48 00:05:24.360 --> 00:05:27.760 that was just way beyond the bounds of possibility. 49 00:05:40.000 --> 00:05:42.040 BOAT HORN SOUNDS 50 00:05:44.040 --> 00:05:48.040 In fact, even to a few days before BP found oil, 51 00:05:48.040 --> 00:05:50.960 the head of BP said it was an impossibility. 52 00:06:09.760 --> 00:06:13.040 And then, in October 1970, 53 00:06:13.040 --> 00:06:17.040 they found oil in, really, a massive field, 54 00:06:17.040 --> 00:06:18.920 in the Forties field, 55 00:06:18.920 --> 00:06:22.080 110 miles off to the northeast of Aberdeen. 56 00:06:22.080 --> 00:06:23.760 Liquid gold. 57 00:06:23.760 --> 00:06:27.040 Call it what you like, Britain now has oil, 58 00:06:27.040 --> 00:06:29.400 billions and billions of barrels on it 59 00:06:29.400 --> 00:06:32.520 and it has been quietly lapping at the doorstep all the time. 60 00:06:39.520 --> 00:06:42.920 I was designing and constructing offshore oil platforms 61 00:06:42.920 --> 00:06:44.920 with a team of other engineers. 62 00:06:48.520 --> 00:06:51.040 When you're flying into a rig... 63 00:06:55.040 --> 00:06:57.760 ..when you look down at these oil platforms, 64 00:06:57.760 --> 00:06:59.760 sometimes it just made me think, 65 00:06:59.760 --> 00:07:02.280 "This is amazing that we've managed to do this." 66 00:07:05.040 --> 00:07:08.520 We're drilling thousands of metres beneath the seabed 67 00:07:08.520 --> 00:07:11.040 in a really hostile part of the world. 68 00:07:16.280 --> 00:07:19.280 It was a bit like the Apollo project of the time. 69 00:07:52.520 --> 00:07:55.520 REPORTER: North Sea platforms need saturation divers. 70 00:07:55.520 --> 00:07:58.280 They are men who have to live for 30 days at a time 71 00:07:58.280 --> 00:08:01.440 at seabed pressures of 400 or 500 feet. 72 00:08:11.760 --> 00:08:13.560 Diver back in the bell. 73 00:08:20.040 --> 00:08:22.280 It was like an adventure at first. 74 00:08:23.520 --> 00:08:27.040 You got out there and just the sheer scale of it, 75 00:08:27.040 --> 00:08:29.040 you know, the enormity of... 76 00:08:29.040 --> 00:08:30.760 ..of... 77 00:08:30.760 --> 00:08:34.680 ..this island in the middle of the North Sea... 78 00:08:34.680 --> 00:08:36.520 ..with just nothing. 79 00:08:45.320 --> 00:08:49.520 I think there was this idea that we were in this new industry. 80 00:08:49.520 --> 00:08:53.760 We were developing something which had never been done before. 81 00:08:53.760 --> 00:08:56.520 And everything you did... 82 00:08:56.520 --> 00:09:00.040 ..would benefit the country, benefit the nation. 83 00:09:00.040 --> 00:09:02.760 We were the pioneers, if you like. 84 00:09:04.520 --> 00:09:07.120 You know, you were breaking new ground every time 85 00:09:07.120 --> 00:09:08.880 and new wells coming in. 86 00:09:24.040 --> 00:09:28.280 There was this idea that you had to make the most of it as well 87 00:09:28.280 --> 00:09:30.680 because it wasn't going to last long. 88 00:09:38.560 --> 00:09:43.520 Suddenly, crofters' and fishermen's sons and grandsons 89 00:09:43.520 --> 00:09:46.800 are finding stable, well-paid jobs. 90 00:09:50.160 --> 00:09:53.160 It means things like foreign holidays 91 00:09:53.160 --> 00:09:55.040 and car ownership 92 00:09:55.040 --> 00:09:59.000 and forms of consumption that are themselves oil-related. 93 00:10:16.760 --> 00:10:20.280 There was a perception that Britain's or Scotland's oil 94 00:10:20.280 --> 00:10:24.280 was being exploited for private gain. 95 00:10:30.520 --> 00:10:33.280 In 1974, there were two general elections. 96 00:10:34.280 --> 00:10:38.040 The SNP stood on a platform of saying, "This is your chance, 97 00:10:38.040 --> 00:10:43.520 "perhaps your last chance, to claim ownership of these resources." 98 00:10:45.280 --> 00:10:48.040 By some estimates, it could have made Scotland 99 00:10:48.040 --> 00:10:52.280 one of the richest economies in Europe or the world. 100 00:10:53.800 --> 00:10:55.760 There's a time coming... 101 00:10:55.760 --> 00:10:59.920 And the argument was, if Scotland didn't achieve independence, 102 00:10:59.920 --> 00:11:04.520 then the UK government was going to extract this oil 103 00:11:04.520 --> 00:11:08.920 as quickly as possible under pretty favourable terms 104 00:11:08.920 --> 00:11:10.760 for the multinationals. 105 00:11:15.520 --> 00:11:19.760 At the time, I think we owned about 60% or 70% of BP. 106 00:11:20.760 --> 00:11:23.520 We also created the British National Oil Corporation. 107 00:11:23.520 --> 00:11:28.280 But the whole Thatcher ideology of let the markets run it 108 00:11:28.280 --> 00:11:31.280 and give it over to the market, so all of that's sold. 109 00:11:32.280 --> 00:11:35.040 Compare that to virtually any country in the world, 110 00:11:35.040 --> 00:11:38.040 apart from the States, I think, who have all got nationalised 111 00:11:38.040 --> 00:11:40.040 corporations of some kind, 112 00:11:40.040 --> 00:11:42.760 but obviously the standout one is Norway - 113 00:11:42.760 --> 00:11:46.520 I say that because it's a comparative size to Scotland 114 00:11:46.520 --> 00:11:49.280 and it's probably the richest country in the world. 115 00:11:59.080 --> 00:12:04.040 The government set about dividing up the sea into blocks... 116 00:12:06.360 --> 00:12:09.000 ..and selling off the national sea 117 00:12:09.000 --> 00:12:13.520 to international companies such as BP and Shell and ExxonMobil, 118 00:12:13.520 --> 00:12:17.520 which is based in the US, and selling off to them the rights 119 00:12:17.520 --> 00:12:21.040 of drilling in the North Sea for oil and gas. 120 00:12:28.000 --> 00:12:30.760 So companies, they'll bid for certain blocks 121 00:12:30.760 --> 00:12:34.040 and then the licenses are awarded by the government 122 00:12:34.040 --> 00:12:38.040 and sometimes there will be certain commitments with those licenses. 123 00:12:38.040 --> 00:12:42.040 So you have to do X number of wells by a certain point and then, 124 00:12:42.040 --> 00:12:47.040 you know, thereafter you have to come up with development plans 125 00:12:47.040 --> 00:12:49.040 of how you're going to actually... 126 00:12:49.040 --> 00:12:51.360 ..what you're going to do with the licenses. 127 00:12:51.360 --> 00:12:54.760 So, you know, it's a fairly...fairly straightforward process. 128 00:12:57.760 --> 00:13:01.520 I think people absolutely are very concerned about climate change, 129 00:13:01.520 --> 00:13:03.480 as we are as a sector, 130 00:13:03.480 --> 00:13:06.280 but, if we kind of knee jerk one way or the other, 131 00:13:06.280 --> 00:13:09.520 I think what will happen is we will see people losing their jobs, 132 00:13:09.520 --> 00:13:12.760 we will see communities being left behind, and that's not 133 00:13:12.760 --> 00:13:15.760 what we think we should be working towards as a sector. 134 00:13:15.760 --> 00:13:18.520 And that's certainly not our aim with our... 135 00:13:18.520 --> 00:13:20.840 ..with the road map that we've put in place, 136 00:13:20.840 --> 00:13:23.040 and now with the North Sea Transition Deal 137 00:13:23.040 --> 00:13:25.360 that we've negotiated with the government. 138 00:13:26.360 --> 00:13:29.840 In 2021, the government and the oil industry set up 139 00:13:29.840 --> 00:13:32.040 the North Sea Transition Deal, 140 00:13:32.040 --> 00:13:36.520 which was basically driven by two fundamental pressures - 141 00:13:36.520 --> 00:13:41.520 falling oil prices and rising public concern about the climate. 142 00:13:45.760 --> 00:13:48.520 " 'As part of the UK's shift towards green energy, 143 00:13:48.520 --> 00:13:51.040 " 'through our landmark North Sea Transition Deal, 144 00:13:51.040 --> 00:13:54.280 " 'we are backing the decarbonisation of the oil and gas sector 145 00:13:54.280 --> 00:13:57.280 " 'to support high value jobs and safeguard the skills necessary 146 00:13:57.280 --> 00:14:00.040 " 'to develop new low carbon industries across the country,' 147 00:14:00.040 --> 00:14:02.040 "said a spokesperson." 148 00:14:02.040 --> 00:14:05.040 I mean, that doesn't really make sense 149 00:14:05.040 --> 00:14:08.040 because, I mean, they're talking about decarbonising 150 00:14:08.040 --> 00:14:09.680 the oil and gas sector. 151 00:14:09.680 --> 00:14:12.120 It's like, you can't decarbonise oil and gas. 152 00:14:12.120 --> 00:14:14.040 It's just... Yeah, I don't know. 153 00:14:14.040 --> 00:14:17.360 They're saying a lot of fancy words that really don't mean anything. 154 00:14:28.760 --> 00:14:34.040 In 2015, Parliament basically passed an amendment to the Petroleum Act 155 00:14:34.040 --> 00:14:38.280 that means that the government has a duty to maximise 156 00:14:38.280 --> 00:14:41.040 economic recovery of offshore oil and gas resources. 157 00:14:41.040 --> 00:14:44.760 I'm not paraphrasing - that's what the statute says. 158 00:14:50.040 --> 00:14:52.680 The UK's former Chancellor, Philip Hammond, 159 00:14:52.680 --> 00:14:55.520 in 2017, he said in a speech, 160 00:14:55.520 --> 00:14:59.760 "We are working with industry to extract every drop of oil and gas 161 00:14:59.760 --> 00:15:01.640 "that it is economic to extract." 162 00:15:07.800 --> 00:15:10.680 We say between ten to 20 billion barrels of oil 163 00:15:10.680 --> 00:15:14.040 are still out there for us to get after. 164 00:15:14.040 --> 00:15:16.040 Erm, and... 165 00:15:16.040 --> 00:15:18.520 And even that, you know... 166 00:15:18.520 --> 00:15:23.000 Yeah, so... Which represents a massive opportunity for us. 167 00:15:28.000 --> 00:15:31.160 Effectively, we're living inside an oil machine. 168 00:15:44.280 --> 00:15:47.280 One of the foundations of the cultures 169 00:15:47.280 --> 00:15:51.040 that have developed around oil is the assumption that energy 170 00:15:51.040 --> 00:15:55.280 will be easy to access and freely available and cheap. 171 00:16:16.760 --> 00:16:21.520 BP was very involved in helping to build a significant part 172 00:16:21.520 --> 00:16:24.040 of what we have in the North Sea today. 173 00:16:24.040 --> 00:16:28.520 The Forties field was one of the most significant fields. 174 00:16:28.520 --> 00:16:32.840 We used to operate around 22 different fields platforms 175 00:16:32.840 --> 00:16:35.520 a few years ago, now we operate about six. 176 00:16:50.280 --> 00:16:53.760 We are comfortably the largest producer... 177 00:16:53.760 --> 00:16:55.920 ..in the North Sea. 178 00:16:55.920 --> 00:16:59.520 We had a number of licences for a relatively small company. 179 00:16:59.520 --> 00:17:02.760 We then did a transformative deal with Shell, 180 00:17:02.760 --> 00:17:05.280 bought a big chunk of their UK business, 181 00:17:05.280 --> 00:17:07.520 and immediately transformed ourselves 182 00:17:07.520 --> 00:17:09.760 into a very material operator. 183 00:17:20.520 --> 00:17:25.040 And, at the moment, we're the most active driller in the North Sea, 184 00:17:25.040 --> 00:17:29.040 producing 1.6, 1.7 million barrels a day. 185 00:17:40.280 --> 00:17:45.040 We go through about 1.5 million barrels of oil a day in the UK. 186 00:17:52.760 --> 00:17:55.280 If we just take one part of the North Sea, 187 00:17:55.280 --> 00:17:57.280 the Forties pipeline system, 188 00:17:57.280 --> 00:18:01.040 it's arguably one of the largest machines in Western Europe, 189 00:18:01.040 --> 00:18:04.760 or possibly the world, and that machine constitutes 190 00:18:04.760 --> 00:18:10.560 all the platforms and all the oil wells and all the pipeline system. 191 00:18:10.560 --> 00:18:17.040 It drains oil from right over on the edge of the UK sea limit, 192 00:18:17.040 --> 00:18:20.040 or from the Brae field or the Montrose field, 193 00:18:20.040 --> 00:18:23.040 through the Forties pipeline system.... 194 00:18:26.280 --> 00:18:31.280 ..until it lands on the shore just north of Aberdeen. 195 00:18:43.040 --> 00:18:46.040 And that is one continuous system 196 00:18:46.040 --> 00:18:49.280 running all the way across the seabed... 197 00:18:50.280 --> 00:18:54.280 ..under the fields and forests and rivers. 198 00:18:56.280 --> 00:18:58.280 One piece of clockwork. 199 00:18:59.760 --> 00:19:01.440 One big machine. 200 00:19:02.760 --> 00:19:05.720 In effect, we're living with that constantly running 201 00:19:05.720 --> 00:19:09.760 24 hours a day, 365 days a year. 202 00:19:29.200 --> 00:19:33.520 Until finally it gets to the west of Edinburgh... 203 00:19:35.520 --> 00:19:37.920 ..where it comes to Grangemouth refinery, 204 00:19:37.920 --> 00:19:41.520 and it also goes to an oil terminal at a place called Hound Point. 205 00:19:52.160 --> 00:19:55.840 At Grangemouth, it's refined and it's turned into 206 00:19:55.840 --> 00:19:59.800 a whole plethora of different products. 207 00:19:59.800 --> 00:20:05.520 So petrol, aviation, fuel, diesel and even tarmac, 208 00:20:05.520 --> 00:20:07.560 it's turned into that. 209 00:20:23.080 --> 00:20:26.040 And, you know, in some ways it's a massively impressive feat 210 00:20:26.040 --> 00:20:29.600 of engineering that oil is extracted in the North Sea... 211 00:20:32.840 --> 00:20:36.760 ..and then transported by pipeline into the middle of Scotland, 212 00:20:36.760 --> 00:20:42.000 and then distributed across much of Scotland and the north of England. 213 00:20:42.000 --> 00:20:45.480 Erm... But that comes at a cost. 214 00:21:04.120 --> 00:21:06.920 I really wanted to get involved with the issues that are happening 215 00:21:06.920 --> 00:21:08.480 right around me 216 00:21:08.480 --> 00:21:11.360 because it's important that we are involved in the things that happen 217 00:21:11.360 --> 00:21:14.680 right around us, as well as the stuff that's going on globally, 218 00:21:14.680 --> 00:21:16.680 because it's all really connected. 219 00:21:22.040 --> 00:21:24.800 As a medic, I care so deeply about health 220 00:21:24.800 --> 00:21:28.040 and I think that, from this lens of health, we can actually achieve 221 00:21:28.040 --> 00:21:30.760 a climate just or a better world for all of us. 222 00:21:30.760 --> 00:21:34.320 Because when we realise that health, well, that the fossil fuel industry 223 00:21:34.320 --> 00:21:37.400 is impacting health in different ways and pollution in the air 224 00:21:37.400 --> 00:21:40.560 is impacting health, and therefore, if we stop this polluting, 225 00:21:40.560 --> 00:21:41.840 we also increase health. 226 00:21:41.840 --> 00:21:44.800 I have lived experience of this plant here. 227 00:21:44.800 --> 00:21:47.160 This plant stole my oxygen... 228 00:21:48.560 --> 00:21:51.400 ..and it made me suffocate, 229 00:21:51.400 --> 00:21:54.000 suffocate so much... 230 00:21:56.040 --> 00:21:59.920 The Mossmorran Natural Gas Liquids, NGL, plant is part of the northern 231 00:21:59.920 --> 00:22:02.560 North Sea Brent oil and gas field system and is located 232 00:22:02.560 --> 00:22:05.880 on the outskirts of Cowdenbeath, Scotland. 233 00:22:09.840 --> 00:22:12.880 There's so much flaring from this gas plant that it means 234 00:22:12.880 --> 00:22:16.560 that local people, like, can't sleep well because of how bright it is. 235 00:22:18.680 --> 00:22:21.640 In fact, the impact of Mossmorran and what's happening there and the 236 00:22:21.640 --> 00:22:24.120 impact of the North Sea oil and gas industry on our health 237 00:22:24.120 --> 00:22:27.120 and on our communities only serves to allow these things to continue 238 00:22:27.120 --> 00:22:28.960 and to continue to cause harm, 239 00:22:28.960 --> 00:22:32.800 so I think that that's why we need to draw these connections. 240 00:22:47.600 --> 00:22:51.280 There's a new oil and gas project, which is set to be licensed 241 00:22:51.280 --> 00:22:53.680 in the Cambo Field, which is in the North Sea. 242 00:22:53.680 --> 00:22:57.800 It's one of the biggest North Sea oil fields that's ever been found. 243 00:22:57.800 --> 00:23:00.880 So we're here to point out the hypocrisy of approving 244 00:23:00.880 --> 00:23:04.280 this new field just after the IEA have said that we cannot approve 245 00:23:04.280 --> 00:23:06.880 and we cannot invest in new oil and gas. 246 00:23:06.880 --> 00:23:09.760 CHANTING 247 00:23:09.760 --> 00:23:14.000 The International Energy Agency, they are very conservative, usually, 248 00:23:14.000 --> 00:23:18.280 so the fact that they're saying no new oil and gas is a very big deal. 249 00:23:18.280 --> 00:23:22.360 A lot of this new climate policy that's being put in, it feels 250 00:23:22.360 --> 00:23:25.640 very performative because a lot of the actions that are happening 251 00:23:25.640 --> 00:23:28.480 are still protecting the oil and gas industry. 252 00:23:33.120 --> 00:23:36.520 It does come into question how much we are like living in democracy. 253 00:23:38.680 --> 00:23:41.760 How much our politicians are actually representing us 254 00:23:41.760 --> 00:23:45.080 or how much they're representing big business. 255 00:23:57.920 --> 00:24:00.640 The government came out and said, "Yes, licensing will continue 256 00:24:00.640 --> 00:24:05.800 "because we do need oil and gas activity to continue in the basin 257 00:24:05.800 --> 00:24:10.080 "if we are to satisfy the demand that we know is going to continue. 258 00:24:10.080 --> 00:24:15.240 "So, you know, better to have it with your home-grown sector 259 00:24:15.240 --> 00:24:18.680 "on your doorstep, supporting the jobs, not offshoring 260 00:24:18.680 --> 00:24:22.440 "your emissions, not having to import the gap that would emerge 261 00:24:22.440 --> 00:24:24.880 "if you didn't continue to produce." 262 00:24:28.960 --> 00:24:32.040 What they wanted to make sure was that, as they go forward 263 00:24:32.040 --> 00:24:35.000 and that for every licensing round that does come up, 264 00:24:35.000 --> 00:24:38.440 that it is still in line with the Paris commitments 265 00:24:38.440 --> 00:24:41.080 and their net zero targets for 2050. 266 00:24:47.640 --> 00:24:52.080 We can point to Â£350 billion in taxes paid for production 267 00:24:52.080 --> 00:24:55.120 and that doesn't even take into account the associated 268 00:24:55.120 --> 00:24:58.080 supply chain taxes that are generated and the jobs 269 00:24:58.080 --> 00:24:59.640 that are generated off that. 270 00:24:59.640 --> 00:25:01.480 LOUD BANG 271 00:25:03.400 --> 00:25:08.720 By the mid 1980s, the British Exchequer was receiving a huge 272 00:25:08.720 --> 00:25:12.640 amount of cash from revenue from the North Sea... 273 00:25:15.440 --> 00:25:18.320 ..which, of course, was used to pay for everything - 274 00:25:18.320 --> 00:25:21.400 roads, schools and so on. 275 00:25:25.280 --> 00:25:28.320 In London, the global finance centre for oil 276 00:25:28.320 --> 00:25:31.240 had begun to be developed since the '50s. 277 00:25:31.240 --> 00:25:35.400 This flourished on the back of UK North Sea oil as well. 278 00:25:35.400 --> 00:25:40.240 It became an engine driving forward the UK finance sector. 279 00:25:48.000 --> 00:25:52.160 And that cash flowed into the pension system as well. 280 00:25:53.480 --> 00:25:57.800 Increasingly, UK pensions became linked to shares in BP and Shell. 281 00:25:57.800 --> 00:26:00.600 And, indeed, by the 2000s, 282 00:26:00.600 --> 00:26:05.240 about 30% of any major portfolio of pension funds 283 00:26:05.240 --> 00:26:08.120 was in these two companies combined. 284 00:26:20.000 --> 00:26:23.040 It's not just about the jobs in the industry, 285 00:26:23.040 --> 00:26:25.040 it's the spin-off of that wealth. 286 00:26:26.960 --> 00:26:30.640 People need a shop, people go out, people eat, people spend money, 287 00:26:30.640 --> 00:26:31.920 people buy things, 288 00:26:31.920 --> 00:26:34.080 that's how the cascade works. 289 00:26:47.600 --> 00:26:50.800 The market, let's say the London Stock Exchange, 290 00:26:50.800 --> 00:26:52.840 markets are considered to be amoral 291 00:26:52.840 --> 00:26:55.160 because they are, they're not a person. 292 00:26:55.160 --> 00:26:59.560 The market is a collection of thousands of activities happening 293 00:26:59.560 --> 00:27:02.920 by individual investors making decisions on behalf of other people. 294 00:27:02.920 --> 00:27:06.040 It's considered amoral because it's a machine. 295 00:27:06.040 --> 00:27:08.080 It's not an individual. 296 00:27:08.080 --> 00:27:10.760 Amoral is different to immoral, remember. 297 00:27:15.160 --> 00:27:17.880 If you're an investor, return on equity is the thing that matters - 298 00:27:17.880 --> 00:27:20.640 it tells you how profitable a business is. 299 00:27:20.640 --> 00:27:24.200 A return on equity for the fossil fuel sector 20 years ago, 300 00:27:24.200 --> 00:27:27.880 double digits, absolutely. 100%, the norm. 301 00:27:28.920 --> 00:27:34.960 Today, return on equity is struggling to get to 5% and 6%. 302 00:27:34.960 --> 00:27:38.400 Some of the fossil fuel firms, they're in what's called a 303 00:27:38.400 --> 00:27:40.840 secular decline, arguably, already. 304 00:27:40.840 --> 00:27:42.840 North Sea oil is a commodity, 305 00:27:42.840 --> 00:27:46.840 it's an asset against which an enormous amount of debt 306 00:27:46.840 --> 00:27:48.200 has been leveraged. 307 00:27:48.200 --> 00:27:51.920 And the question is, does the asset maintain its value? 308 00:27:51.920 --> 00:27:54.880 Does oil maintain its price? 309 00:27:54.880 --> 00:27:57.960 And that really matters, because if it fails 310 00:27:57.960 --> 00:28:02.000 to maintain its value then the debt leveraged against that asset 311 00:28:02.000 --> 00:28:03.920 is going to become unpayable. 312 00:28:08.520 --> 00:28:12.040 Conversely, the return on equity for offshore wind... 313 00:28:13.520 --> 00:28:14.840 ..is about 11%... 314 00:28:17.360 --> 00:28:19.320 ..onshore wind about ten 315 00:28:19.320 --> 00:28:22.200 and onshore solar about 9%. 316 00:28:24.560 --> 00:28:27.720 So you're already generating more return on equity 317 00:28:27.720 --> 00:28:31.200 from putting your capital into the renewable energy space. 318 00:28:34.360 --> 00:28:37.200 The question is, can it take as much capital as is currently 319 00:28:37.200 --> 00:28:39.080 in the fossil fuel sector? 320 00:28:41.440 --> 00:28:46.040 Those who own investments in North Sea oil have to believe 321 00:28:46.040 --> 00:28:50.120 that it will continue and maintain its value as an asset. 322 00:28:51.160 --> 00:28:55.320 And the question is, when does the value of the asset fall? 323 00:28:57.840 --> 00:29:00.160 COMPUTER BEEPS AND WHIRS 324 00:29:03.920 --> 00:29:06.760 And when the price of oil falls, 325 00:29:06.760 --> 00:29:09.280 then oil becomes a stranded asset. 326 00:29:17.120 --> 00:29:19.600 We have to reimagine the economy. 327 00:29:19.600 --> 00:29:24.440 The way we've constructed it right now means that it's incredibly 328 00:29:24.440 --> 00:29:27.000 unstable and prone to crashes. 329 00:29:41.920 --> 00:29:45.760 If you look at the London Stock Exchange 330 00:29:45.760 --> 00:29:48.240 and you look at the implied temperature change of all 331 00:29:48.240 --> 00:29:50.040 the companies that are listed there, 332 00:29:50.040 --> 00:29:52.080 particularly the oil and gas companies, 333 00:29:52.080 --> 00:29:55.440 that we have three and a half degrees of change embedded 334 00:29:55.440 --> 00:29:57.520 in the London Stock Exchange. 335 00:30:00.160 --> 00:30:03.080 It's one of the worst exchanges in the world because it's where many 336 00:30:03.080 --> 00:30:05.600 of the world's largest oil and gas companies list... 337 00:30:06.720 --> 00:30:08.920 ..which means that people's pensions, 338 00:30:08.920 --> 00:30:10.800 savings and investments in the UK 339 00:30:10.800 --> 00:30:15.040 are actually invested in financing a future that no-one wants to see, 340 00:30:15.040 --> 00:30:16.880 but no-one really realises. 341 00:30:24.800 --> 00:30:27.720 People tend to be ignorant about money because finance 342 00:30:27.720 --> 00:30:29.120 is quite complicated. 343 00:30:29.120 --> 00:30:32.320 And because it's been functioning by and large reasonably well 344 00:30:32.320 --> 00:30:35.040 for so long, there's been this paternalistic culture 345 00:30:35.040 --> 00:30:36.680 that's enabled people to just say, 346 00:30:36.680 --> 00:30:38.600 "It's OK, don't worry, it's all working." 347 00:30:38.600 --> 00:30:40.600 Whereas, actually, it's not. 348 00:30:40.600 --> 00:30:46.120 We need to now rapidly raise our collective understanding of banking, 349 00:30:46.120 --> 00:30:48.960 insurance and investment, particularly investment, 350 00:30:48.960 --> 00:30:53.600 and particularly where you own companies that are undermining 351 00:30:53.600 --> 00:30:56.680 the future that we wish to bequeath to our children. 352 00:31:15.840 --> 00:31:20.360 Angel Gurria, when he was the Secretary-General of the OECD, 353 00:31:20.360 --> 00:31:22.640 talked about carbon entanglement. 354 00:31:24.520 --> 00:31:27.960 What he meant was, when you had ministers 355 00:31:27.960 --> 00:31:31.240 from the environmental department 356 00:31:31.240 --> 00:31:36.520 coming to UN meetings and pledging to stop certain activity, 357 00:31:36.520 --> 00:31:38.360 let's say drilling... 358 00:31:42.480 --> 00:31:45.920 ..and then they would return home to find that the chancellor 359 00:31:45.920 --> 00:31:49.200 of their exchequer wasn't prepared to stop that... 360 00:31:53.320 --> 00:31:56.920 ..because the amount of revenue that the Exchequer received 361 00:31:56.920 --> 00:32:00.760 through the tax that was charged on the fossil fuel when it was sold... 362 00:32:02.920 --> 00:32:06.480 ..that that level of entanglement of economic activity meant that 363 00:32:06.480 --> 00:32:09.080 we couldn't simply stop the thing that needed to stop... 364 00:32:11.520 --> 00:32:13.240 ..because, in stopping that... 365 00:32:14.800 --> 00:32:16.880 ..all other things would stop, too. 366 00:32:30.960 --> 00:32:35.680 I think that my predictions 367 00:32:35.680 --> 00:32:39.960 beyond 2050 are difficult to make... 368 00:32:46.840 --> 00:32:50.040 ..and the reason I say this is because I don't believe 369 00:32:50.040 --> 00:32:53.840 the global economy will be functioning the way it is today 370 00:32:53.840 --> 00:32:59.280 unless we make big, big changes over the next five to ten years 371 00:32:59.280 --> 00:33:03.560 to manage the disaster that's just around the corner. 372 00:33:08.800 --> 00:33:14.080 A series of crises that will begin unfolding after mid-century 373 00:33:14.080 --> 00:33:17.080 is going to mean the end of the global economy. 374 00:33:22.640 --> 00:33:26.480 I believe that what we do over the next five years, 375 00:33:26.480 --> 00:33:30.160 and the "we" in that sentence refers to humanity, 376 00:33:30.160 --> 00:33:33.360 will determine the future of humanity for the next millennium. 377 00:33:48.760 --> 00:33:53.200 I think people will look back on this era of oil and just think 378 00:33:53.200 --> 00:33:55.240 about how ridiculous it was. 379 00:33:56.400 --> 00:33:58.880 How could you know about such a massive issue 380 00:33:58.880 --> 00:34:01.600 and still worry more about profit? 381 00:34:01.600 --> 00:34:03.480 It feels a bit surreal in a way. 382 00:34:10.440 --> 00:34:12.760 WAVES ROAR 383 00:34:22.320 --> 00:34:25.360 The whole issue of climate change became quite relevant, 384 00:34:25.360 --> 00:34:28.120 and there was a lot of discussions around that in the late '80s 385 00:34:28.120 --> 00:34:30.960 and the early '90s, and it wasn't something I knew a lot about, 386 00:34:30.960 --> 00:34:33.720 so I decided to go back to university to try and find something 387 00:34:33.720 --> 00:34:35.200 out about climate change, 388 00:34:35.200 --> 00:34:37.720 and so I decided in the end to leave the oil industry. 389 00:34:45.760 --> 00:34:49.240 When we burn oil and gas, or indeed any fossil fuel, 390 00:34:49.240 --> 00:34:51.640 it's made up of two principal elements - 391 00:34:51.640 --> 00:34:53.560 one's carbon and one's hydrogen. 392 00:34:56.080 --> 00:34:59.320 That carbon combusts with the oxygen in the atmosphere. 393 00:35:08.440 --> 00:35:11.840 And now, of course, we're burning all of this fossil fuel so rapidly. 394 00:35:13.320 --> 00:35:16.920 Remember, these are fossil fuels that were laid down by trees 395 00:35:16.920 --> 00:35:19.960 and by other plants over millions of years. 396 00:35:22.360 --> 00:35:25.080 We're taking them all out of the ground and almost overnight 397 00:35:25.080 --> 00:35:28.120 releasing all of that carbon back out into the atmosphere, 398 00:35:28.120 --> 00:35:30.840 this carbon dioxide, through the combustion in our car engines 399 00:35:30.840 --> 00:35:32.520 and our power stations. 400 00:35:55.240 --> 00:35:59.000 So very, very deliberately, as part of market ideology, 401 00:35:59.000 --> 00:36:03.320 is the idea that we can't allow democracies or governments or states 402 00:36:03.320 --> 00:36:08.120 to regulate or to manage the production and the extraction 403 00:36:08.120 --> 00:36:09.920 of finite assets - 404 00:36:09.920 --> 00:36:13.600 this has to be left to something called the invisible hand. 405 00:36:34.320 --> 00:36:39.160 And if the invisible hand decides that in a world of climate breakdown 406 00:36:39.160 --> 00:36:43.240 it's necessary to churn out more fossil fuels, then the invisible 407 00:36:43.240 --> 00:36:47.240 hand will actually disadvantage the public and governments 408 00:36:47.240 --> 00:36:49.880 and, indeed, that is what is happening now. 409 00:37:13.000 --> 00:37:17.000 Once the crude gets to a refinery like Grangemouth... 410 00:37:21.280 --> 00:37:25.960 ..it's made into lots of things like petrol, aviation fuel and tarmac. 411 00:37:25.960 --> 00:37:29.640 It's also made into this substance called naphtha, 412 00:37:29.640 --> 00:37:35.080 which is the sort of, a basis that you would use to make plastics. 413 00:37:45.360 --> 00:37:49.160 You then put it into a petrochemical plant and you make other stuff 414 00:37:49.160 --> 00:37:51.280 out of it, such as ethylene. 415 00:37:51.280 --> 00:37:54.880 And then that ethylene is made into other stuff such as PVC. 416 00:37:57.960 --> 00:38:00.040 And that is plastic as we know it. 417 00:38:11.120 --> 00:38:14.760 When you burn a gallon of petrol, it goes into the atmosphere 418 00:38:14.760 --> 00:38:18.080 pretty quickly. When you turn it into a plastic toy and that's used 419 00:38:18.080 --> 00:38:21.560 for a bit and then thrown away, it stays in a landfill 420 00:38:21.560 --> 00:38:23.720 for many hundreds of years... 421 00:38:25.160 --> 00:38:26.880 ..possibly thousands of years. 422 00:38:36.680 --> 00:38:39.920 And then there are tiny bits of plastic, microplastics, 423 00:38:39.920 --> 00:38:42.280 which are in everything. 424 00:38:42.280 --> 00:38:45.360 The water from the tap, in rivers and in seas, 425 00:38:45.360 --> 00:38:48.320 and even in our human tissues and organs 426 00:38:48.320 --> 00:38:50.640 and in the tissues of other animals. 427 00:38:55.600 --> 00:38:58.560 And all those bits of plastic at some point 428 00:38:58.560 --> 00:39:00.840 came out of an oil well. 429 00:39:09.280 --> 00:39:11.280 And it wasn't so recently. 430 00:39:11.280 --> 00:39:15.080 Plastics weren't really being used until the '60s in any major way. 431 00:39:38.720 --> 00:39:42.800 Since signing the Paris Agreement in 2016, the UK Government has given 432 00:39:42.800 --> 00:39:46.800 Â£4 billion of public money to North Sea oil and gas companies. 433 00:39:46.800 --> 00:39:49.480 That is a huge amount of money that should be being used for 434 00:39:49.480 --> 00:39:52.080 public good and is instead propping up these big, polluting, 435 00:39:52.080 --> 00:39:54.360 harmful companies. 436 00:39:55.520 --> 00:39:58.480 I heard about a case that was happening that was taking the 437 00:39:58.480 --> 00:40:02.240 UK Government to court around these subsidies and around the new policy 438 00:40:02.240 --> 00:40:05.680 that had been created by the Oil and Gas Authority, 439 00:40:05.680 --> 00:40:10.040 which basically allows for the promotion of oil and gas production. 440 00:40:11.560 --> 00:40:14.440 I feel like I got to a point where I was so desperate 441 00:40:14.440 --> 00:40:16.400 about - what should I do? What can I do? 442 00:40:19.040 --> 00:40:22.320 I'm taking the UK Government to court to pull the plug 443 00:40:22.320 --> 00:40:24.880 on public payments for big polluters. 444 00:40:26.120 --> 00:40:30.640 The world is moving away from an oil and gas economy 445 00:40:30.640 --> 00:40:32.280 to a lower carbon economy, 446 00:40:32.280 --> 00:40:35.520 so we, BP, intend to be part of that transition. 447 00:40:35.520 --> 00:40:40.360 So I think, if we, if we didn't make the move, we wouldn't exist. 448 00:40:41.440 --> 00:40:46.080 We will be taking carbon emissions from heavy industry 449 00:40:46.080 --> 00:40:48.120 that is based in the Teesside area 450 00:40:48.120 --> 00:40:50.880 and sequestering that in reservoirs offshore. 451 00:40:50.880 --> 00:40:54.080 We'll be using the same very similar expertise 452 00:40:54.080 --> 00:40:56.800 to what we've used with our oil and gas production 453 00:40:56.800 --> 00:41:00.040 to capture that material and inject it. 454 00:41:02.320 --> 00:41:04.720 The oil industry has traditionally been full of people 455 00:41:04.720 --> 00:41:06.760 who love solving problems. 456 00:41:08.040 --> 00:41:09.760 That's why people become engineers, 457 00:41:09.760 --> 00:41:12.160 because they want to build big things and do stuff, 458 00:41:12.160 --> 00:41:14.480 and that doesn't matter whether you're a woman or a man. 459 00:41:14.480 --> 00:41:17.440 It's that challenge in your mind that you love - 460 00:41:17.440 --> 00:41:19.800 and this is another challenge. 461 00:41:24.200 --> 00:41:29.120 In 20 years' time, I would love in the UK that we're still producing 462 00:41:29.120 --> 00:41:32.480 the same level, the same level of hydrocarbons that we're producing 463 00:41:32.480 --> 00:41:35.720 now, but with a net, with a net zero footprint. 464 00:41:35.720 --> 00:41:38.920 So we often hear this language now, particularly of net zero. 465 00:41:38.920 --> 00:41:42.200 So what really is it? We need to sort of understand what it is. 466 00:41:42.200 --> 00:41:45.120 And, actually, from a purely scientific point of view, 467 00:41:45.120 --> 00:41:46.480 it makes some sort of sense. 468 00:41:46.480 --> 00:41:49.680 The idea is that we have to get to a point where the emissions 469 00:41:49.680 --> 00:41:52.320 we put into the atmosphere are balanced by those 470 00:41:52.320 --> 00:41:54.080 that are removed from the atmosphere. 471 00:41:54.080 --> 00:41:57.240 So what we put out is balanced by what is taken back in. 472 00:41:57.240 --> 00:41:59.640 And we then give it like a year, 473 00:41:59.640 --> 00:42:02.120 so at some point in the future, always a long way away, 474 00:42:02.120 --> 00:42:04.320 so something like 2050. 475 00:42:04.320 --> 00:42:08.320 In 2050, we will have this net zero, where we'll have found a way 476 00:42:08.320 --> 00:42:11.320 to balance our emissions, which are still quite significant then, 477 00:42:11.320 --> 00:42:14.920 with sinks that absorb the carbon dioxide back into the atmosphere. 478 00:42:19.200 --> 00:42:23.760 We are setting up a carbon capture business of which may ultimately 479 00:42:23.760 --> 00:42:28.560 take some of the CO2 that we produce from a hydrogen process 480 00:42:28.560 --> 00:42:32.720 and then we will store that carbon in underground reservoirs, 481 00:42:32.720 --> 00:42:36.680 depleted gas fields, where we produce the hydrocarbons from there. 482 00:42:36.680 --> 00:42:39.640 We know the history, we know the structure. 483 00:42:39.640 --> 00:42:42.520 Actually, the UK could be in a really robust position 484 00:42:42.520 --> 00:42:45.600 for carbon capture with the spin-offs for potentially 485 00:42:45.600 --> 00:42:48.280 supply chain benefits, exporting some of those skills 486 00:42:48.280 --> 00:42:50.280 to other countries. 487 00:42:50.280 --> 00:42:54.160 We have very few working examples of carbon capture and storage 488 00:42:54.160 --> 00:42:55.360 on power stations. 489 00:42:55.360 --> 00:42:59.440 I've got colleagues that have been working on this for 20 years. 490 00:43:15.440 --> 00:43:20.000 There is currently no operational carbon capture and storage, CCS, 491 00:43:20.000 --> 00:43:22.680 capacity in the UK or Europe. 492 00:43:22.680 --> 00:43:26.160 All estimates are that there won't be in the next decade, 493 00:43:26.160 --> 00:43:28.480 and the next decade really matters. 494 00:43:28.480 --> 00:43:32.400 So it's absolutely no excuse to continue expanding oil and gas 495 00:43:32.400 --> 00:43:35.320 infrastructure on the assumption that we can bring down 496 00:43:35.320 --> 00:43:37.960 those emissions using that technology in the next few years. 497 00:43:37.960 --> 00:43:39.880 It's just, it's not going to happen. 498 00:43:39.880 --> 00:43:43.880 We will maintain some level of oil and gas production over time, 499 00:43:43.880 --> 00:43:47.920 but we're hugely ramping up our investments in non oil and gas 500 00:43:47.920 --> 00:43:49.680 forms of energy as well. 501 00:43:51.680 --> 00:43:55.800 We're about to get into a ScotWind leasing process. 502 00:43:55.800 --> 00:44:00.520 That, the process itself to actually acquire the leases, takes time. 503 00:44:00.520 --> 00:44:03.840 From the point at which wind leases are acquired 504 00:44:03.840 --> 00:44:05.880 to when wind farms are installed 505 00:44:05.880 --> 00:44:08.320 is normally a period of about ten years. 506 00:44:09.800 --> 00:44:12.520 We will do everything we can to compress that period 507 00:44:12.520 --> 00:44:14.200 and make it faster. 508 00:44:14.200 --> 00:44:19.120 But it's almost, just the realities of what happens is these... 509 00:44:19.120 --> 00:44:22.640 What we are talking about is changing the infrastructure 510 00:44:22.640 --> 00:44:25.400 of the world - that takes time. 511 00:44:41.040 --> 00:44:44.280 For decades, the world has been built on 512 00:44:44.280 --> 00:44:46.240 a hydrocarbon-based infrastructure. 513 00:44:48.120 --> 00:44:49.920 Maybe a good analogy would be 514 00:44:49.920 --> 00:44:53.760 it's almost like replacing all the veins in the human body. 515 00:45:05.960 --> 00:45:11.120 I guess we have an addiction to oil and gas in our society 516 00:45:11.120 --> 00:45:13.760 and that's why we need to work thoughtfully 517 00:45:13.760 --> 00:45:15.680 as to how we move forward. 518 00:45:16.840 --> 00:45:19.200 Just to stop it for the sake of stopping it 519 00:45:19.200 --> 00:45:22.240 isn't going to stop the demand that's associated with it. 520 00:45:25.400 --> 00:45:29.080 Everything we use has an oil base virtually in it. 521 00:45:35.280 --> 00:45:39.960 You know, from your shoes, the tyres on the electric car, 522 00:45:39.960 --> 00:45:43.800 or the iPhone. I think the iPhone's got about six litres of oil 523 00:45:43.800 --> 00:45:45.760 used in its manufacture. 524 00:45:45.760 --> 00:45:49.720 Your waterproof jacket, which we all need here in Scotland, 525 00:45:49.720 --> 00:45:51.600 there's hydrocarbon in it. 526 00:45:51.600 --> 00:45:53.680 You know, you're going to need it. 527 00:45:53.680 --> 00:45:58.600 So having a go at North Sea oil and gas production... 528 00:45:59.880 --> 00:46:03.320 ..in itself, I think, is unfair. 529 00:46:03.320 --> 00:46:07.160 People in the oil industry and just people in general have a go 530 00:46:07.160 --> 00:46:11.400 at environmentalists for, you know, using phones and buying shoes. 531 00:46:11.400 --> 00:46:13.120 If people think you're a hypocrite, 532 00:46:13.120 --> 00:46:15.520 they're not going to listen to what you have to say 533 00:46:15.520 --> 00:46:18.600 and, I mean, that is exactly what the fossil fuel industry wants. 534 00:46:18.600 --> 00:46:22.240 It takes the pressure off of them and onto everyday people 535 00:46:22.240 --> 00:46:26.080 whose individual actions in the grand scheme of things 536 00:46:26.080 --> 00:46:31.480 is tiny compared to the actions of massive fossil fuel corporations. 537 00:46:31.480 --> 00:46:35.320 We need to start talking about this as a systemic problem 538 00:46:35.320 --> 00:46:37.200 and not as an individual problem. 539 00:46:40.160 --> 00:46:43.760 There's no real consumer choice around the fact that we live in 540 00:46:43.760 --> 00:46:46.440 an energy infrastructure that means we have to use oil and gas 541 00:46:46.440 --> 00:46:49.520 currently because other alternatives are not being promoted. 542 00:46:56.640 --> 00:46:58.400 This is not made of oil. 543 00:46:58.400 --> 00:47:00.040 This is not made of oil. 544 00:47:00.040 --> 00:47:01.800 This is not made of oil. 545 00:47:01.800 --> 00:47:03.440 This is not made of oil. 546 00:47:03.440 --> 00:47:05.200 This is not made of oil. 547 00:47:05.200 --> 00:47:06.800 This is not made of oil. 548 00:47:06.800 --> 00:47:10.960 I think we've been hearing that the oil and gas company 549 00:47:10.960 --> 00:47:14.920 is the answer to our future energy needs for decades 550 00:47:14.920 --> 00:47:19.240 and the fact is that their investment in renewable energy 551 00:47:19.240 --> 00:47:24.520 is a vanishingly small proportion of their overall investment. 552 00:47:24.520 --> 00:47:27.240 The Oil and Gas Authority, if you open up their website 553 00:47:27.240 --> 00:47:29.680 or indeed go to their Twitter account, that's what they say, 554 00:47:29.680 --> 00:47:33.560 "We're there to maximise oil and gas production," and they help 555 00:47:33.560 --> 00:47:35.040 the government meet its net zero. 556 00:47:35.040 --> 00:47:38.760 That demonstrates to me absolutely clearly how net zero 557 00:47:38.760 --> 00:47:42.520 is basically a front for an incrementally greenwashed 558 00:47:42.520 --> 00:47:44.200 business as usual. 559 00:47:44.200 --> 00:47:46.120 It delays any real action. 560 00:47:46.120 --> 00:47:50.000 It relies on technologies that are either highly speculative 561 00:47:50.000 --> 00:47:52.840 or in only very small pilot schemes at the moment to remove 562 00:47:52.840 --> 00:47:56.400 carbon dioxide from the atmosphere, hundreds of billions of tonnes 563 00:47:56.400 --> 00:47:59.320 of carbon dioxide, not small quantities, out in the future. 564 00:47:59.320 --> 00:48:01.240 And when I say "we're" going to remove it, 565 00:48:01.240 --> 00:48:03.840 not us, our children and our children's children. 566 00:48:05.360 --> 00:48:07.320 BIRD CRIES 567 00:48:17.000 --> 00:48:19.880 There are several parts of Fort William that are threatened 568 00:48:19.880 --> 00:48:22.800 with flooding, and this will include the main roads 569 00:48:22.800 --> 00:48:26.360 and the main rail lines between Fort William and Glasgow... 570 00:48:27.720 --> 00:48:31.080 ..and that means that there's going to be a transport problem 571 00:48:31.080 --> 00:48:35.120 in the future, and food supplies might cut out at some point. 572 00:48:44.960 --> 00:48:47.600 In 50 years' time, if nothing changes, 573 00:48:47.600 --> 00:48:50.400 the water levels could rise to 40 centimetres. 574 00:48:52.760 --> 00:48:57.560 Already this winter, it flooded right up to where I'm sitting 575 00:48:57.560 --> 00:48:59.800 and the road had to be closed. 576 00:49:01.720 --> 00:49:04.880 If the road up to the high school could be closed, 577 00:49:04.880 --> 00:49:07.360 how could the children get to school? 578 00:49:25.400 --> 00:49:29.600 Well, in 50 years' time, I'm worried that there won't be the same type 579 00:49:29.600 --> 00:49:34.000 of wildlife as there is right now because of climate change. 580 00:49:34.000 --> 00:49:35.880 Ullapool's like a fishing village, 581 00:49:35.880 --> 00:49:38.720 so then, if the smaller fish die out, 582 00:49:38.720 --> 00:49:41.720 then the bigger fish won't have anything to eat, 583 00:49:41.720 --> 00:49:45.120 and that's kind of like the same as puffins 584 00:49:45.120 --> 00:49:48.040 that live around the coastal areas of Scotland. 585 00:49:49.600 --> 00:49:52.680 They could be affected by climate change, if the temperature rises 586 00:49:52.680 --> 00:49:54.120 and the sea levels rise, 587 00:49:54.120 --> 00:49:57.200 because then that would make the smaller fish swim away 588 00:49:57.200 --> 00:50:00.400 to places that are cooler or further north. 589 00:50:00.400 --> 00:50:05.400 Puffins will die of starvation if they don't sort something out soon. 590 00:50:18.800 --> 00:50:21.240 This bridge could be completely underwater. 591 00:50:22.440 --> 00:50:25.760 The SEC behind us, where they're holding COP26, 592 00:50:25.760 --> 00:50:28.040 that's going to be completely destroyed. 593 00:50:29.280 --> 00:50:32.080 There are so many things happening in the world right now that... 594 00:50:33.720 --> 00:50:35.960 ..I'm honestly not sure I could face 595 00:50:35.960 --> 00:50:38.640 bringing even like a child into the world. 596 00:50:44.640 --> 00:50:46.960 If we don't make the change now, we never will. 597 00:50:49.400 --> 00:50:52.040 It's actually so much closer than a lot of us are actually 598 00:50:52.040 --> 00:50:54.240 willing to believe... 599 00:50:54.240 --> 00:50:56.760 ..and that's quite terrifying. 600 00:51:06.560 --> 00:51:09.480 Adults have made their life choices. They've got their career 601 00:51:09.480 --> 00:51:12.680 and they've, you know, sometimes they have a family, 602 00:51:12.680 --> 00:51:16.480 they have a house, and it's not going to impact their lives 603 00:51:16.480 --> 00:51:19.840 in the same way it will impact us because, you know, 604 00:51:19.840 --> 00:51:22.760 what career am I going to have based off of this 605 00:51:22.760 --> 00:51:24.480 and where am I going to live? 606 00:51:25.880 --> 00:51:28.720 And what food am I going to be able to eat? 607 00:51:37.160 --> 00:51:40.880 DUCK QUACKS 608 00:51:41.960 --> 00:51:45.240 We're going to have several metres of sea level rise already locked in 609 00:51:45.240 --> 00:51:47.200 and, since Edinburgh is on the coast, 610 00:51:47.200 --> 00:51:51.280 that poses a pretty severe threat to lots of areas around here. 611 00:51:51.280 --> 00:51:53.160 Everything would be under water, 612 00:51:53.160 --> 00:51:57.480 the Ocean Terminal mall, the pub at the end of the road over there, 613 00:51:57.480 --> 00:51:58.960 everything. 614 00:51:58.960 --> 00:52:01.560 It's not even that far in the future, 615 00:52:01.560 --> 00:52:04.560 like, I'll maybe just be starting retirement. 616 00:52:04.560 --> 00:52:07.400 Even if we feel like it's in the distant future, 617 00:52:07.400 --> 00:52:11.560 areas I go all the time will not be, they won't even exist any more. 618 00:52:26.960 --> 00:52:30.480 THEY CHANT: BP, Shell, take your oil and go to hell. 619 00:52:30.480 --> 00:52:35.160 ExxonMobil, BP, Shell, take your oil and go to hell. 620 00:52:35.160 --> 00:52:38.280 ExxonMobil, BP, Shell, take your oil... 621 00:52:42.280 --> 00:52:46.640 The things I am most worried about is the future 622 00:52:46.640 --> 00:52:48.800 for children aged 15, 623 00:52:48.800 --> 00:52:51.200 children aged three, four, five. 624 00:52:58.920 --> 00:53:02.640 They will presumably expect to be alive by the end of the century. 625 00:53:04.760 --> 00:53:09.440 And, at the moment, that is really not looking like the sort of place 626 00:53:09.440 --> 00:53:11.120 you'd like to live in. 627 00:53:17.920 --> 00:53:21.080 So what we are seeing is a major disturbance 628 00:53:21.080 --> 00:53:23.320 in the global weather system, 629 00:53:23.320 --> 00:53:28.520 but much more serious is what is happening to that ice on Greenland. 630 00:53:28.520 --> 00:53:31.680 As the ice melts, it enters the ocean 631 00:53:31.680 --> 00:53:35.960 and there's enough ice there that, when it's all melted, 632 00:53:35.960 --> 00:53:40.720 sea levels globally will rise by an average of 7.5 metres, 633 00:53:40.720 --> 00:53:42.360 24 feet... 634 00:53:43.640 --> 00:53:48.160 ..and we will not recognise the world when that has happened. 635 00:53:53.880 --> 00:53:58.640 And, quite frankly, I believe this is already happening 636 00:53:58.640 --> 00:54:04.000 towards that final level of 24 feet sea level rise. 637 00:54:05.040 --> 00:54:07.400 WATER ROARS 638 00:54:17.440 --> 00:54:21.440 The Paris Agreement says that 1.5 degrees should be our aim 639 00:54:21.440 --> 00:54:26.600 and the fact that we're heading much more rapidly towards 3.5 degrees 640 00:54:26.600 --> 00:54:29.800 should be a grave concern for everybody. 641 00:54:31.120 --> 00:54:33.240 SHOUTING 642 00:54:41.000 --> 00:54:44.600 My family is still mostly in Bangladesh 643 00:54:44.600 --> 00:54:49.040 and I see it as, I guess in my case, 644 00:54:49.040 --> 00:54:53.760 a very personal example of the deep injustice 645 00:54:53.760 --> 00:54:56.800 at the heart of the climate crisis. 646 00:55:03.080 --> 00:55:07.240 As a country, it's done so little historically to contribute 647 00:55:07.240 --> 00:55:10.600 to the amount of carbon that's in the atmosphere 648 00:55:10.600 --> 00:55:13.840 and it's done so little to cause the climate crisis, 649 00:55:13.840 --> 00:55:17.920 and yet people there will be bearing the impact, already are 650 00:55:17.920 --> 00:55:21.440 overwhelmingly living with the impacts 651 00:55:21.440 --> 00:55:23.800 that we're currently experiencing of climate change. 652 00:55:31.640 --> 00:55:34.920 A half a metre sea level rise by 2050, 653 00:55:34.920 --> 00:55:38.680 we will see the... Everyone knows Bangladesh, 654 00:55:38.680 --> 00:55:41.440 two thirds of the country under water. 655 00:55:45.640 --> 00:55:48.080 It's expected that tens of millions... 656 00:55:48.080 --> 00:55:50.520 I think one estimate is that 30 million people 657 00:55:50.520 --> 00:55:53.480 will have to emigrate 658 00:55:53.480 --> 00:55:57.760 as a result of the impacts of climate change. 659 00:55:57.760 --> 00:56:01.600 Vietnam, 90% of the country under water, sea water 660 00:56:01.600 --> 00:56:05.240 at least once a year by 2050, in 30 years' time. 661 00:56:09.840 --> 00:56:13.240 The Mekong Delta region is the biggest series 662 00:56:13.240 --> 00:56:15.760 of rice paddy fields in the world. 663 00:56:15.760 --> 00:56:19.560 By the time we get to mid-century, rice production will collapse. 664 00:56:21.800 --> 00:56:26.040 At 3.5 degrees, roughly 74% of the world's population 665 00:56:26.040 --> 00:56:28.360 cannot live where they do today 666 00:56:28.360 --> 00:56:32.560 because the midday summer air temperature will be too hot 667 00:56:32.560 --> 00:56:35.080 for the body to be able to function. 668 00:56:35.080 --> 00:56:37.600 The body's inner organs will start to collapse. 669 00:56:40.440 --> 00:56:43.640 We are looking, by mid-century, 670 00:56:43.640 --> 00:56:47.560 possibly at 100 million climate refugees 671 00:56:47.560 --> 00:56:51.240 from that part of the world, possibly 200, 300 million... 672 00:56:52.280 --> 00:56:54.840 ..and that'll be happening around the world. 673 00:57:03.800 --> 00:57:09.160 We have to defossilise the global economy as quickly as we can. 674 00:58:53.480 --> 00:58:56.200 PLANE ROARS PAST 675 00:59:53.160 --> 00:59:55.680 CHANTING 676 01:00:07.000 --> 01:00:09.880 In my view, there are many reasons to be deeply critical 677 01:00:09.880 --> 01:00:11.640 of the whole COP process. 678 01:00:13.640 --> 01:00:18.120 The most dangerous voice there was that from the fossil fuel industry 679 01:00:18.120 --> 01:00:23.360 and, remember, that industry is not always a private sector voice - 680 01:00:23.360 --> 01:00:25.960 it's often the voice of the governments. 681 01:00:32.800 --> 01:00:36.480 A lot of the oil companies are owned by the governments, 682 01:00:36.480 --> 01:00:40.120 so the governments themselves are in effect the oil companies 683 01:00:40.120 --> 01:00:42.080 in many parts of the world. 684 01:00:46.280 --> 01:00:50.840 So whilst tens of thousands, hundreds of thousands of protesters 685 01:00:50.840 --> 01:00:53.520 and civil society activists and wider society 686 01:00:53.520 --> 01:00:55.000 is kept at arm's reach... 687 01:01:00.760 --> 01:01:05.160 ..the fossil fuel lobbyists are right in there with the negotiators 688 01:01:05.160 --> 01:01:07.480 before COP and during COP. 689 01:01:07.480 --> 01:01:10.040 They're in the governments. They're part of the governments. 690 01:01:10.040 --> 01:01:12.760 They're part of the DNA of the COP. 691 01:01:15.480 --> 01:01:18.360 And then we stand back saying, "Oh, look, there's hardly anything 692 01:01:18.360 --> 01:01:21.640 "about the fossil fuel industry and how we have to rapidly faze it out 693 01:01:21.640 --> 01:01:24.360 "within the agreements that come out of these COPS." 694 01:01:24.360 --> 01:01:26.320 And Glasgow, again, was just the same. 695 01:01:32.000 --> 01:01:34.880 They're in and out of the ministries far more than, 696 01:01:34.880 --> 01:01:37.360 I think there's some evidence that suggests nine or ten times 697 01:01:37.360 --> 01:01:40.360 more often than you get people from the renewables coming in there, 698 01:01:40.360 --> 01:01:43.200 and they've been doing this again for decade after decade. 699 01:02:10.160 --> 01:02:14.240 The fact is that, if we were about to be hit by a meteorite, 700 01:02:14.240 --> 01:02:17.600 if the country was about to be hit by a meteorite, 701 01:02:17.600 --> 01:02:21.480 the government would do everything possible to prevent 702 01:02:21.480 --> 01:02:23.360 that happening immediately. 703 01:02:23.360 --> 01:02:27.400 It wouldn't say, "Oh, let's wait for the private sector to come up 704 01:02:27.400 --> 01:02:31.360 "with a plan and a managed transition 705 01:02:31.360 --> 01:02:33.680 "before the moment of impact." 706 01:02:33.680 --> 01:02:36.200 Right? We can't afford to do that. 707 01:02:36.200 --> 01:02:41.760 The urgency of the climate crisis is not entirely unlike 708 01:02:41.760 --> 01:02:45.560 the threat we would face if we were to be hit by a meteorite. 709 01:02:45.560 --> 01:02:51.600 And, therefore, we cannot rely on self-serving capital gains-making 710 01:02:51.600 --> 01:02:55.360 shareholders in oil companies for that transition. 711 01:03:57.520 --> 01:04:00.360 METALLIC CLANKING 712 01:04:03.600 --> 01:04:06.200 We need to decommission properly. 713 01:04:06.200 --> 01:04:09.760 There are certain obligations that we're under 714 01:04:09.760 --> 01:04:14.560 and as a sector we want to make sure that we do tidy up after ourselves. 715 01:04:14.560 --> 01:04:17.920 So we decommission, we do it safely, we do it efficiently, 716 01:04:17.920 --> 01:04:23.080 we do it cost-effectively, and we do it with an environmental...head on. 717 01:04:29.000 --> 01:04:31.040 The industry is liable for all the costs 718 01:04:31.040 --> 01:04:32.920 associated with decommissioning. 719 01:04:38.280 --> 01:04:42.800 The way that the tax regime works in this country for oil and gas 720 01:04:42.800 --> 01:04:48.040 companies is that they can claim costs that they incur 721 01:04:48.040 --> 01:04:51.720 from decommissioning oil and gas assets, which is another way 722 01:04:51.720 --> 01:04:55.400 of saying cleaning up the mess that they've created. 723 01:04:55.400 --> 01:04:59.640 You know, it's disassembling rigs, making sure that there isn't a whole 724 01:04:59.640 --> 01:05:02.560 lot of toxic sludge left behind, the sort of clean-up 725 01:05:02.560 --> 01:05:05.680 that all polluting industries have to do 726 01:05:05.680 --> 01:05:08.160 when they exit from that industry. 727 01:05:08.160 --> 01:05:12.240 But if you're an oil and gas company, the UK taxpayer 728 01:05:12.240 --> 01:05:16.480 pays about 50% of the costs of decommissioning. 729 01:05:25.240 --> 01:05:29.400 All companies in the sector benefit from that tax regime 730 01:05:29.400 --> 01:05:31.840 and it means that, whether they're a British company 731 01:05:31.840 --> 01:05:36.040 or a foreign company, they are not making a contribution 732 01:05:36.040 --> 01:05:41.800 to the British economy in terms of the money that they contribute 733 01:05:41.800 --> 01:05:45.760 to the public purse, and they are benefiting from taxpayer dollars. 734 01:05:57.000 --> 01:06:00.720 The UK's Office of National Accounts has estimated 735 01:06:00.720 --> 01:06:04.720 that over the next few decades we are on the hook 736 01:06:04.720 --> 01:06:07.920 for Â£18 billion in decommissioning costs. 737 01:06:11.760 --> 01:06:15.800 It's the kind of arrangement that no other industry benefits from. 738 01:06:26.200 --> 01:06:29.800 We need to transition. We need to get the manufacturing site onshore. 739 01:06:31.880 --> 01:06:33.360 For decommissioning oil and gas, 740 01:06:33.360 --> 01:06:38.120 we could recycle the steel and we could build jackets for turbines. 741 01:06:38.120 --> 01:06:40.200 We could build the turbines. 742 01:06:49.920 --> 01:06:52.520 Right now, the future of North Sea oil 743 01:06:52.520 --> 01:06:55.160 is in the hands of the investment houses. 744 01:06:58.080 --> 01:07:02.440 As the oil and gas depletes in the UK now, 745 01:07:02.440 --> 01:07:06.280 the majors aren't making enough quick enough, 746 01:07:06.280 --> 01:07:09.200 and as their assets get older they've got to spend more money 747 01:07:09.200 --> 01:07:12.120 on them and they don't want to be doing that either. 748 01:07:14.400 --> 01:07:16.440 So what we've got now are... 749 01:07:17.680 --> 01:07:20.720 ..investment houses looking to make a quick buck. 750 01:07:22.280 --> 01:07:25.120 As we move forward with the whole climate debate, 751 01:07:25.120 --> 01:07:29.160 you're going to see these investment houses 752 01:07:29.160 --> 01:07:33.960 being exposed and attacked for continuing to invest in oil and gas. 753 01:07:41.080 --> 01:07:46.440 These investment houses are going to think twice and a lot of them 754 01:07:46.440 --> 01:07:48.480 are just going to pull the plug. 755 01:07:48.480 --> 01:07:50.080 And if they pull the plug... 756 01:07:51.240 --> 01:07:53.360 ..that ends operations here. 757 01:07:57.560 --> 01:07:59.280 That shuts it down. 758 01:08:05.880 --> 01:08:08.320 Oil and gas workers now are very worried 759 01:08:08.320 --> 01:08:10.640 about what the future holds for them. 760 01:08:14.480 --> 01:08:20.320 The technology, the ability, the core skills, the infrastructure, 761 01:08:20.320 --> 01:08:23.720 the supply chain companies, they're all here. 762 01:08:23.720 --> 01:08:25.480 They can all deliver 763 01:08:25.480 --> 01:08:29.760 on what we need to do in the renewable sector, 764 01:08:29.760 --> 01:08:33.360 whether it's carbon capture, whether it's hydrogen production. 765 01:08:35.080 --> 01:08:36.600 We can do it all... 766 01:08:37.960 --> 01:08:39.200 ..given the chance. 767 01:08:46.480 --> 01:08:48.360 You see, the big oil companies, 768 01:08:48.360 --> 01:08:51.440 they're now beginning to sell up and move away... 769 01:08:53.320 --> 01:08:57.840 ..and in their place come a whole range of much smaller companies. 770 01:08:57.840 --> 01:09:02.480 So those are private equity companies who are owned by 771 01:09:02.480 --> 01:09:06.640 private individuals based in, say, for example, Switzerland 772 01:09:06.640 --> 01:09:08.680 or the USA or Russia. 773 01:09:09.760 --> 01:09:13.200 And then also state-owned companies, 774 01:09:13.200 --> 01:09:16.280 such as Malaysia, Abu Dhabi, 775 01:09:16.280 --> 01:09:19.560 but also China and Iran. 776 01:09:19.560 --> 01:09:22.800 The Chinese National Offshore Oil Company 777 01:09:22.800 --> 01:09:26.080 has three major oil fields in the North Sea - 778 01:09:26.080 --> 01:09:28.840 Telford and Golden Eagle and Buzzard. 779 01:09:28.840 --> 01:09:33.760 Buzzard is the highest producing oilfield in the UK North Sea, 780 01:09:33.760 --> 01:09:38.280 so China has an increasingly important role to play 781 01:09:38.280 --> 01:09:40.640 in the future of this area 782 01:09:40.640 --> 01:09:44.880 and that's an important thing when we think about how much control 783 01:09:44.880 --> 01:09:50.360 do we as British citizens have over the future of the North Sea. 784 01:09:52.080 --> 01:09:54.680 If, say, for example, people in Scotland say, "We don't want 785 01:09:54.680 --> 01:09:59.560 "that oil exploited because of climate change or whatever," 786 01:09:59.560 --> 01:10:04.120 then the UK would have to compensate 787 01:10:04.120 --> 01:10:08.320 the Chinese National Oil Company, and effectively the Chinese state, 788 01:10:08.320 --> 01:10:11.680 for tearing up the contract that it's made with it... 789 01:10:13.080 --> 01:10:18.520 ..which means that it is more and more removed from government control 790 01:10:18.520 --> 01:10:21.920 and democratic control and public scrutiny. 791 01:10:28.880 --> 01:10:31.320 DISTANT HORN BLARES 792 01:10:35.880 --> 01:10:41.560 About two thirds of the oil that we produce is being exported 793 01:10:41.560 --> 01:10:46.160 to countries such as China and the US, 794 01:10:46.160 --> 01:10:50.040 and not used to be refined here, on the UK mainland... 795 01:10:51.320 --> 01:10:55.080 ..which undermines the argument that this is important 796 01:10:55.080 --> 01:10:56.760 for UK energy security. 797 01:10:56.760 --> 01:10:59.240 WAVES ROAR 798 01:11:09.040 --> 01:11:11.480 I think we'll look back on this era as the good old days 799 01:11:11.480 --> 01:11:15.200 before everything goes insane, and we can't even stop it any more. 800 01:11:15.200 --> 01:11:17.880 And I think there is going to be a lot of resentment from future 801 01:11:17.880 --> 01:11:20.160 generations because we really are at the last point 802 01:11:20.160 --> 01:11:21.760 where we can change things. 803 01:11:21.760 --> 01:11:24.000 And if we don't, I don't think the future generations 804 01:11:24.000 --> 01:11:26.080 are ever really going to be able to forgive us. 805 01:11:26.080 --> 01:11:28.080 Yeah, they're going to blame us 806 01:11:28.080 --> 01:11:30.840 and we're not even the ones in control here. 807 01:11:39.440 --> 01:11:43.960 We have been consistently wrong about the scale at which renewables 808 01:11:43.960 --> 01:11:45.360 have become competitive. 809 01:11:45.360 --> 01:11:48.720 The price of solar has dropped by 80% in the last decade. 810 01:11:48.720 --> 01:11:51.240 Nobody, including the world's leading energy forecasters, 811 01:11:51.240 --> 01:11:53.040 saw that coming. 812 01:11:56.280 --> 01:12:01.200 So to continue to lock in our dependency on oil and gas, 813 01:12:01.200 --> 01:12:04.880 because we think that in 30 years' time we might still need it 814 01:12:04.880 --> 01:12:06.440 is a huge mistake. 815 01:12:35.160 --> 01:12:39.080 Compared with digging deep beneath the North Sea to produce this, 816 01:12:39.080 --> 01:12:42.400 you know, quite challenging material... 817 01:12:45.320 --> 01:12:48.560 ..to then pipe it day after day, year after year, 818 01:12:48.560 --> 01:12:52.520 decade after decade, the huge refineries that then convert this 819 01:12:52.520 --> 01:12:55.920 black goo into all sorts of amazing products, one way or another, 820 01:12:55.920 --> 01:12:58.800 that we've managed to do that is incredible. 821 01:13:02.240 --> 01:13:06.240 And then you look at the renewable industry now that's developing - 822 01:13:06.240 --> 01:13:09.160 it looks so much simpler than this oil industry 823 01:13:09.160 --> 01:13:11.480 that we've completely normalised. 824 01:13:13.040 --> 01:13:15.640 And I look at the skills that we have offshore, 825 01:13:15.640 --> 01:13:18.160 that degree of sort of, you know, engineering 826 01:13:18.160 --> 01:13:19.760 understanding and so forth, 827 01:13:19.760 --> 01:13:22.440 you think, if we applied that to the renewables, 828 01:13:22.440 --> 01:13:24.120 we could deliver a renewable 829 01:13:24.120 --> 01:13:28.880 renaissance, or a new renewable conversion from fossil fuels, 830 01:13:28.880 --> 01:13:32.960 far more quickly than we ever built with the fossil fuel industry. 831 01:14:13.680 --> 01:14:17.320 We need every institution of finance, be they insurers 832 01:14:17.320 --> 01:14:21.920 or fund managers or banks, the OECD, the World Bank, the IMF, 833 01:14:21.920 --> 01:14:25.680 we all need to work collectively to make sure that we rebase global 834 01:14:25.680 --> 01:14:29.560 economic growth so that it's no longer powered by fossil fuels. 835 01:14:34.680 --> 01:14:38.080 If we don't deliver that, then civilisation itself is at risk. 836 01:14:40.720 --> 01:14:43.720 I know that sounds hyperbolic, but it is a fact. 837 01:14:46.560 --> 01:14:48.760 PLANE ENGINES ROAR 838 01:14:57.400 --> 01:14:59.960 Oil was discovered in 1859 - 839 01:14:59.960 --> 01:15:05.680 at that time, there were about 800 whaling vessels in the world... 840 01:15:06.680 --> 01:15:11.040 ..and that was how we powered lights in cities - whale oil. 841 01:15:15.680 --> 01:15:20.760 About ten years later, half of that whaling fleet was worthless 842 01:15:20.760 --> 01:15:23.920 because nobody needed the whales any more. 843 01:15:23.920 --> 01:15:25.600 It's going to take a lot longer, 844 01:15:25.600 --> 01:15:30.400 but the rigs of today can be equated to the whaling vessels 845 01:15:30.400 --> 01:15:32.280 of 150 years ago. 846 01:15:43.720 --> 01:15:45.680 This period of burning the fossil fuels, 847 01:15:45.680 --> 01:15:49.640 of really taking what has been millions and millions of years 848 01:15:49.640 --> 01:15:53.600 of laying down the carbon through natural processes 849 01:15:53.600 --> 01:15:56.840 and suddenly releasing it, virtually overnight, 850 01:15:56.840 --> 01:15:59.280 but that's a very short timeframe. 851 01:15:59.280 --> 01:16:03.360 So to assume that we can't live as humans without fossil fuels 852 01:16:03.360 --> 01:16:06.400 completely misunderstands that we have done so in the past... 853 01:16:08.840 --> 01:16:11.160 ..and that we will have to in the future. 854 01:16:26.760 --> 01:16:32.520 We're embedded in the physical realm of the oil machine, 855 01:16:32.520 --> 01:16:36.360 but we're also embedded in the emotional world of that. 856 01:16:42.560 --> 01:16:45.680 It makes the way we think and it makes the way we feel. 857 01:17:02.160 --> 01:17:05.600 The difficulties of getting out of oil 858 01:17:05.600 --> 01:17:10.560 is that it feels like life is going to be more deprived... 859 01:17:12.600 --> 01:17:15.080 ..and we're frightened of that. 860 01:17:38.000 --> 01:17:43.040 Our desires are often made possible by a level of energy consumption. 861 01:18:01.880 --> 01:18:04.800 WATER GURGLES 862 01:18:10.400 --> 01:18:12.160 We've been in the phase of oil. 863 01:18:14.920 --> 01:18:17.040 We have to go beyond it. 864 01:18:23.440 --> 01:18:26.080 We have to find a way out the other side of it. 865 01:18:30.560 --> 01:18:33.800 That will lead us to learning new ways of being.