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tv   Business Today  BBC News  October 4, 2024 11:30am-11:46am BST

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this is really order. firstly, this is really important for the regional economy. it is important for the national economy in my view, for reasons i've said several times, view, for reasons i've said severaltimes, but view, for reasons i've said several times, but it is important here in the region, because these are good secure jobs in the region, and i think thatis jobs in the region, and i think that is the foundation of what so many people want in life. people want a job that is secure and skilled and pays them enough to be able to do them enough to be able to do the things that they want to do stop have their family, the things that they want to do stop have theirfamily, by somewhere, go on holiday, do the things they want to do secure in the knowledge that they can afford to do so. i've always believed that the first and most fundamental thing in terms of security for individuals is having the dignity of a good job, a secure job, a well—paid job that gives the freedom to do whatever people want to do
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a secondary benefit as well there is a secondary benefit to merseyside which is when people have skilled jobs they are secure and they spend their money predominantly in the local economy, so your restaurants, hospitality, your theatres, etc, also gain secondary because when people have jobs and feel they can go out and enjoy themselves and spend that money in the shops and restaurants etc, that is a double benefit for the region. more broadly of course, those jobs will be across the country and a similar pattern happens. another reason hospitality is taken such head is because people haven't got the money to go out for meals in the way they used to. a secondary benefit. in relation to the tidal work the mayor is doing, we are supportive of this. i do think it's important. it is subject to business cases etc,
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but you know, all of this technology should be seen as one in the sense that we should look at all of the opportunities we have to develop, to create the jobs of the future. and an economy that actually works for everyone. and that's what is at the heart of this. thank you so much and thank you again for being here. applause thank you for listening. i really appreciated. studio: sir keir starmer their speaking in liverpool announcing the governments plans to invest £22 billion in carbon capture and storage projects for merseyside and teesside. and there he took questions as well on other issues, including the controversy around donations to the prime minister and other cabinet ministers, saying that he decided to give back £6,000 in donations and he said it was a personal decision to return the money and he wasn't asking
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anyone else to do the same and of course, he took questions on the conflict in lebanon and on the conflict in lebanon and on the chagas islands. and the uk decision to hand back sovereignty to mauritius. 0f sovereignty to mauritius. of course, the focus was on that carbon capture project and we can speak to our climate correspondentjonah fisher who correspondent jonah fisher who was following correspondentjonah fisher who was following that speech. jonah, the prime minister really was talking about the economic and capital investment impact of this project rather than climate change are so want to do make of what he had to say? i to do make of what he had to sa ? ~' ., , ., to do make of what he had to sa? ~' , ., say? i think he was at pains to stress he _ say? i think he was at pains to stress he was _ say? i think he was at pains to stress he was part _ say? i think he was at pains to stress he was part of- say? i think he was at pains to stress he was part of a - say? i think he was at pains to | stress he was part of a broader strategy of investment and it would deliverjobs to the two clusters both on the west coast, on merseyside, and on the east coast on teesside, so there where those two key messages there. he was asked by my colleague the question as to whether this was a new
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announcement, new money being put forward, and he gave a pretty robust response saying that this £20 billion which had been announced by the conservative government for carbon capture and storage had been abroad commitment, the details haven't been established, the money hadn't been booked in, and this was different in terms of the nature of the project, the identifying of the hydrogen project, on the west coast and the power station on teesside, that things will actually start moving, they would start delivering on this commitment, that it wouldn't be, as he was suggesting, wouldn't be abroad commitment without action like the previous government. sign; the previous government. stay with us and — the previous government. stay with us and let's _ the previous government. stay with us and let's bring in stuart hazell zion, professor of carbon capture and storage at edinburgh university. thank you forjoining us on bbc news. how much do you think this project will help us transition away from fossil fuels? well, i
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think this _ away from fossil fuels? well, i think this is — away from fossil fuels? well, i think this is a _ away from fossil fuels? well, i think this is a fundamentally . think this is a fundamentally important day because this is a really big change and a sign of a transition at huge scale to move the uk from a carbon consuming, carbon dioxide emitting economy, clean economy, so we have been building renewable energy through wind power, tidal power, solar power, but that has decarbonise maybe three quarters of electricity only so only about 10% of our home energy use in the uk, so we are still using huge quantities of carbon rich fossil fuels and doing carbon capture and storage is a way of decarbonising industry, taking out another may 40% of the emissions we omit from our fundamental industries which keir starmer outlined several times with examples being cement, steel making,
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glass—making, paper, etc. all of those are hard to decarbonise, those industries are not going to go away unless we choose to close them down, so this is a way of helping those industries to decarbonise, avoiding carbon taxes, making thosejobs decarbonise, avoiding carbon taxes, making those jobs are stable and helping the climate and keeping the uk on track to reach net to zero by mid century, one of the leading countries of the world to do that. very, very important indeed, and this will be an industry about the same size as the present—day oil industry, the present—day oil industry, the north sea, so it's a huge transition we are starting now. professor, you're an expert in this field, sojust professor, you're an expert in this field, so just help us understand how carbon capture and storage works how it can help us fight climate change. sure, at the moment, what's happening is the default position where we are now as we have coal and oil and gas, those are reserves of fossil carbon which have been laid down by the earth millions and millions of years ago. what we have been doing
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since the middle 1700s, started by the industrial revolution in the uk, we have been doing up those fossilfuels, the uk, we have been doing up those fossil fuels, burning them and using the energy, but of course we have been dumping the carbon dioxide into the atmosphere and that carbon dioxide excess in the atmosphere is what is driving global heating, drives a acidification of the oceans, and is also driving the sea level rise we are starting to observe. what carbon capture and storage does, comment two methods in this package, announced today, firstly, if you are trying to use methane gas, a molecule of carbon and hydrogen in it, we can split that molecule apart to make just hydrogen and send the carbon await to be stored deep underground in the north sea out of sight, that's the carbon storage part. and we can replace the methane in the gas pipes by sending hydrogen through the gas pipes and where we burn that at the end in industries and businesses, and
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may be in our homes, maybe we arejust burning clean may be in our homes, maybe we are just burning clean fuel with no carbon emission. the second type of carbon capture is the one for the power station, the new gas—fired power station on teesside, where we could be burning fossil carbon fuel and in the flue gas going up the chimney that's a mixture of carbon dioxide plus nitrogen from the air and effectively we bubble up air and effectively we bubble up through a chemical solvent which attracts the carbon dioxide and takes it out of that emission and we can then separate that, liquefy the carbon dioxide and also send that through the pipe network we used to produce the natural gas in the first place, to reuse that's support infrastructure sensor carbon dioxide for deep storage deep beneath the north sea. two methods of carbon dioxide storage, but both equally effective at decreasing emissions are very large industrial scales. $5 emissions are very large industrial scales.- emissions are very large industrial scales. as we were heafini industrial scales. as we were hearing there _ industrial scales. as we were hearing there in _ industrial scales. as we were hearing there in the - industrial scales. as we were hearing there in the press i hearing there in the press conference, this is now the fourth attempt, we understand
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come at a project like this, first suggested back in 2009 by ed miliband so why is proving so challenging? to get these projects under way? the first ro'ect projects under way? the first proiect was _ projects under way? the first project was actually - projects under way? the first project was actually buying . project was actually buying british petroleum in 2005, and at that point, bp suggested carbon capture and storage to the uk government but the uk government wasn't really ready to evaluate that, so it couldn't make a decision within the two years needed by the old company. then there was a carbon capture competition launched to try to decarbonise coalfield power stations because of that time we were still burning lots of coal in the uk. that price came in too expensive, too slow to deliver, but mainly too expensive for the government of the day to look at. they tried again on a slightly different gas fuelled power plant, pulled the last minute by the conservative government of the day, again on cost, and what is different
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this time is there has been a very, very thorough cost analysis, but there's been a very, very strong engagement with the developers, all the people in the developing chain companies right through from the companies who make burning fossilfuel, who want the companies who make burning fossil fuel, who want to decarbonise to come what can i afford to pay and how they try to pay that? how to design and build the equipment which captures and separates the carbon dioxide, and crucially, the companies who can transport that carbon dioxide through pipelines and store that deep beneath the north sea. joining up beneath the north sea. joining up this chain of companies, many large global names, national names of multinational companies are now involved so this is a huge opportunity to reorient the way we do business on energy in the uk as well as creating thousands ofjobs as well as delivering on our carbon commitments and this will be away which this huge project, huge sets of projects, will lead the world in how to
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organise and deliver this at a very large—scale, safely, securely and with a controlled cost. ., , ,., securely and with a controlled cost. ., ,,., ., , cost. professor, from edinburgh university. _ cost. professor, from edinburgh university, thank _ cost. professor, from edinburgh university, thank you _ cost. professor, from edinburgh university, thank you for - university, thank you for sharing your expertise with us on bbc news. we can return to jonah fisher, our climate correspondence. early in the programme we were hearing that this is £22 billion, it will be spent over 25 years and the government is promising private investment in these projects as well. investment in these pro'ects as well. ., . . ., investment in these pro'ects as well. ., . . . . well. how crucial will that investment _ well. how crucial will that investment be? _ well. how crucial will that l investment be? absolutely vital, and i think the amount of money that the government is committing, £22 billion, over 25 years, it's effectively linking up the shortfall which would exist in the cost of doing this and the market price, so for example, with a gas—fired power station, on teesside, the government will have to come in and guarantee a much higher price for that
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electricity to incentivise that company to come in, because it's not cheap putting carbon capture and storage on a gas—fired power station. iwent to visit one a year or so ago and they suggested it could be double the cost of a gas—fired power station so it has a cost attached to it and effectively the government has a situation where in order to make this happen and encourage private companies to come in, you either subsidise it, effectively guaranteeing a higher price, or you penalised those who are emitting carbon dioxide into the atmosphere with a penalty on that, so a mix of those approaches will be needed and probably be deployed to try to attract private money and private businesses to perform those key roles and get that money flowing. i perform those key roles and get that money flowing.— that money flowing. i guess the final question _ that money flowing. i guess the final question here _ that money flowing. i guess the final question here would - that money flowing. i guess the final question here would be - final question here would be just your prediction on how successful this latest interpretation might be? that's
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a very good _ interpretation might be? that's a very good question _ interpretation might be? that's a very good question and - interpretation might be? that's a very good question and we i interpretation might be? that's. a very good question and we had this sort of announcement happen before at the previous government, and then things had rather got slowed down when it comes to the critical question of signing off that many, large amount of for such an extended period of time. certainly the mood music from the current government is very different, the fact that keir starmer was there himself today making this announcement surrounded by his chancellor and his energy secretary, it certainly seems to suggest that there is a commitment there that wasn't there before under the previous governments, but as your previous guest would explain, there's been several attempted this before but it's not translated into carbon capture and storage becoming a reality here in the uk. i think it does feel a little bit different today, but we do have to bear
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in mind this is a very large amount of money being signed off for an extended period of time. while the commitment is there now, obviously they will be competing with other priorities as well.- be competing with other priorities as well. thank you very much- _ priorities as well. thank you very much. that _ priorities as well. thank you very much. that summer i priorities as well. thank you - very much. that summer climate correspondencejonah fisher. i want to bring you some breaking news now in relation to the former met police officers, jonathan kaplan and sam franks, in relation to the case involving the olympic sprinter ricardo desantis and his partner. the copy we have coming in says the former met pcs were dismissed in october last year after a disciplinary panel found they had lied about smelling the drug and when they pulled over the olympic sprinter and his partner and the finding has been overturned by the police appeals tribunal which found the original decision was irrational and
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inconsistent. so that some breaking news coming in from the police appeals tribunal. you are watching bbc news. stay with us. hello from the bbc sport centre. manchester united seasonis centre. manchester united season is fast becoming something of a sporting soap opera with harry maguire scoring a late goal that might well help save his managers job. united due 3—0 in the europa league on thursday night after rescue dropping 2—0 up. that's only three wins out of ten matches so far this season for a team who continue to concede goals and they are below leeds. the players executing the plan brilliantly. scored two great goals. and then were switching off. we don't keep so much
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possession. as before.

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