Scientists estimate that Europe could generate the equivalent of 80-100GW from geothermal sources.
Oil and gas fields in Europe’s North Sea are in terminal decline. Last year, the oil basin produced 34 m tonnes of oil, its lowest since production in the North Sea was established in the 1970s. Scores of Big Oil companies have been pulling out of the aging oil basin, with production expected to continue shrinking despite the UK government recently issuing a raft of licenses since Russia’s invasion of Ukraine.
climbed 31% to $71/MWh while solar PV declined 90% to $44/MWh while onshore wind fell 70% to $33/MWh.
Drilling Clean Energy Renewables Green Energy North Sea Upstream
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