Second Flesh-Eating Screwworm Case Raises Beef Supply Fears As Goldman Warns Outbreak “Could Be Disruptive”

Second Flesh-Eating Screwworm Case Raises Beef Supply Fears As Goldman Warns Outbreak “Could Be Disruptive”

The U.S. Department of Agriculture (USDA) confirmed a second New World screwworm (NWS) case in a one-month-old calf in Zavala County, Texas, roughly 5.6 miles from the first confirmed detection.

For now, both cases remain inside what the USDA calls an “established movement control zone and enhanced sterile insect dispersal area.” This suggests the outbreak is still contained within the USDA’s active response perimeter. Nearby suspect cattle tests have been negative so far, limiting signs of broader spread at this point.

USDA confirmed the second NWS case late Friday. The agency reported the first case on Thursday (read the report).

The detection of NWS in the U.S. – once eradicated in the U.S. in the 1960s – has seen an ongoing resurgence across Panama, Central America, a, nd Mexico. NWS burrows into living flesh, causing serious livestock damage and economic losses. This biological threat to the U.S. cattle herd comes as the nation’s herd level is already at a 75-year low, beef prices are at record highs, and meatpackers are under pressure from fewer and more expensive animals.

Cattle futures at record highs. 

Goldman analyst Thiago Bortoluci lays out the implications if NWS spreads across the US beef industry:

In our view, the potential spread of NWS into Texas could be disruptive: the state holds the largest cattle herd in the country (12.1M head, 14% of the U.S. total), ranks among the top regions for feeder cattle (15%) and cattle on feed (22%), and is one of the most relevant sources of cattle shipped across state lines.

Should the Texas case be confirmed, we would expect:

Further pressure on the U.S. cattle herd, extending what has already been a multi-year downcycle, with elevated cattle costs further squeezing packers’ profitability. Potentially weaker consumer demand for beef, ahead of the seasonally high grilling season and the upcoming FIFA World Cup. Some short-term demand substitution effect toward chicken.

Read-across to our coverage JBS currently operates one plant in Texas, but we believe the negative externalities could extend into nearby states and potentially also impact MBRF’s National Beef operations (especially Liberal and Dodge City), given inter-state cattle trade. We estimate that each -50bp change in U.S. beef profitability would translate into a -3% impact on MBRF’s and JBS’s consolidated forward EBITDA.

On the flip side, the scenario could potentially be supportive for South American beef exporters given good cattle availability and no evidence of NWS in the continent till now. If this trend were to persist, Minerva would be the clearest beneficiary across our coverage, as exports to the U.S. account for 11% of its total sales.

Base case: heightened NWS biosecurity surveillance across Texas and tighter cattle movement controls, not mass culling

Tyler Durden
Sat, 06/06/2026 – 12:15

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US Intercepted Fresh Iranian Ballistic Missile Attacks Overnight As Tehran Blasts ‘Ceasefire Violations’

US Intercepted Fresh Iranian Ballistic Missile Attacks Overnight As Tehran Blasts ‘Ceasefire Violations’

Summary

  • Iran’s foreign ministry says US overnight action, especially bombing coastal radar facilities, is a violation of ceasfire.
  • New nighttime salvo of missiles on Kuwait, Bahrain: Six ballistic missiles fired at Bahrain and Kuwait were intercepted, CENTCOM said.
  • Overnight flare-up started with Iranian attack drones in Strait being intercepted by US forces.
  • Trump admits Iran still has some 20% of its missile arsenal: “It’s a lot of missiles, but it’s not what it was when we first attacked.” (CNBC)

US x Iran permanent peace deal by June 30, 2026?
Yes 21% · No 80%
View full market & trade on Polymarket

*  *  *

Iran FM Blasts New US ‘Ceasefire Violations’

Iran has again accused the US of breaking the ceasefire, with the Foreign Ministry on Saturday stating the US “not only lacks the will to reduce tensions and return to the path of stability, but with its adventurist actions, it seriously endangers the security of the region.”

The ministry on X denounced fresh US attacks its coastal radar and surveillance facilities in Sirik region and on Qeshm Island – saying this breached the ceasefire. The ministry “strongly calls on the countries of the region to observe the principle of good neighborliness and adhere to the fundamental principle of international law of refraining from allowing aggressors to use their territory and facilities to plan and carry out aggressive actions against the Islamic Republic of Iran.”

It seems clear that for each US action, Iran is seeking to establish deterrence, and so is not hesitating to fire or inflict some kind of ‘cost’ either on US bases or the Gulf allies hosting them.

More Pakistani efforts to forge together agreement to get US-Iran back to the formal negotiating table:

Salvo of Ballistic Missiles Fired on Kuwait, Bahrain

Soon after the initial drone shootdown engagement (below), it became apparent that anti-air defense systems were active over Kuwait, as its armed forces warned the public that explosions were the result of inbound projectile intercepts. While there were no reports of damage, the ground result is still anything but clear or certain (based on past instances of the US and Gulf allies concealing or downplaying damage or casualties).

Within hours after this initial exchange of fire, Iran followed up with more ballistic missiles on nearby Bahrain and Kuwait – as ‘punishment’ for the countries hosting US forces and American bases.

Bloomberg reports that “Six ballistic missiles fired at Bahrain and Kuwait were intercepted and another failed to reach its intended target, hours after four drones headed to the Strait of Hormuz were shot down, Centcom said.” It notes that the “US military struck Iranian coastal surveillance radar sites in Goruk and on Qeshm Island in return.”

It Started With Iranian Drone Shootdowns

More details have come to light of the latest overnight flare-up in fighting between US and Iranian forces in and around the Strait of Hormuz and Persian Gulf.

The Friday night and overnight clashes started when the US military reportedly intercepted and shot down at least four Iranian one-way attack drones. According to US Central Command (CENTCOM), the incoming unmanned aerial vehicles were heading directly toward the Strait of Hormuz and posed an “imminent threat to maritime traffic.”

Following the drone shootdowns, American forces immediately launched retaliatory strikes against key military targets inside Iranian territory. CENTCOM further detailed that American assets hit Iranian coastal surveillance radar sites located in Goruk, a city in the Hormozgan province, as well as on Qeshm Island, a strategically vital Iranian outpost in the mouth of the strait.

Each Exchange Another Escalation Toward Full-Scale War

One thing is clear: these ‘limited’ escalations are becoming more regular, and even almost nightly at this point, raising the stakes and possibility of a more full-on, dangerous renewed war.

It has also become increasingly evident and acknowledged that the ceasefire has allowed Iran to reconstitute much of its missile and drone capabilities, and underground launch tunnels are being dug out with heavy equipment.

President Trump himself has recently admitted this state of things, amid the extended ceasefire:

US President Donald Trump, who has insisted for months that Iran was near its breaking point, conceded Friday that the country retains some missile and drone capacity. In an interview with NBC News, he said about 21-22% of Tehran’s missile arsenal remains.

“It’s a lot of missiles, but it’s not what it was when we first attacked,” he told the television network during a visit to Wisconsin. Earlier Friday, he told reporters the US is “having great success with Iran,” and “they’re in no position to have a nuclear weapon.”

Sunday will mark 100 days since the start of Operation Epic Fury. Trump and US officials had touted only a ‘short’ conflict, and seemed to have been betting on the government being toppled.

Tyler Durden
Sat, 06/06/2026 – 11:05

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UK Government Plots Digital ID Lockdown On Every Phone In Lockstep With Big Tech

UK Government Plots Digital ID Lockdown On Every Phone In Lockstep With Big Tech

Authored by Steve Watson via Modernity,

The Labour government in Britain is accelerating its assault on digital privacy under the well-worn banner of child protection. Fresh plans leaked to the press reveal ministers intend to compel Apple, Google and other tech firms to restrict smartphones so thoroughly that a digital ID will be needed to use them with unfettered access.

The mechanism comes in the form of expanded age verification that effectively demands digital identification for device setup and use. What is sold as safeguarding the young is shaping up as a backdoor mandate for every adult in Britain to submit ID just to operate a phone or go online.

This development lands alongside Google’s confirmation that it will soon bring digital IDs to Android devices in the UK via Google Wallet. Users will record a short video selfie and scan a government-issued ID to add a digital version of their passport or other documents.

The feature, already rolling out in select EU countries this summer, is explicitly tied to the UK’s Online Safety Act requirements for age checks on content involving self-harm, eating disorders, bullying and pornography.

Google is exploring certification under the government’s digital identity trust framework, which could extend its use to everyday purchases such as alcohol.

Apple has already implemented similar restrictions on iOS devices in Britain, forcing age confirmation or locking users into limited “child mode.”

Big Brother Watch director Silkie Carlo has been blunt about where this leads. “Protecting children online is vital, but these are outrageous plans that will fail to address the underlying causes of online harm. This will only result in population-wide ID checks for all of us to use our phones, tablets and laptops.”

She continued: “Put simply, the Labour Government is introducing ID checks for the internet. No one in a democracy should need to show their passport just to get online.”

Carlo warned that the proposals replace genuine parental responsibility and meaningful tech design with “performative, authoritarian government control that children can easily circumvent by accessing adult-registered devices.” For the UK’s fifty million adult internet users, the outcome is stark: “this backdoor digital ID requirement would invoke the death of anonymity and internet privacy.”

The mechanics are chilling. Without submitting to intrusive ID checks during device setup, users face a “chokehold on your software and internet access leaving you with a child-locked device.” Restrictions on messaging, streaming and browsing open the door to client-side scanning – government spyware sitting in every pocket. Carlo noted this has long been a GCHQ ambition and “will be exploited for other purposes before long.”

The bigger picture involving “The Government mandating that all phones/devices in Britain require ID and surveillance software is a crossing of the Rubicon that would make the UK one of the most authoritarian internet regimes in the world.”

“I don’t know anywhere else in the world that has done this,” Carlo warned.

The story broke via a leak to The Times rather than any parliamentary process. Carlo called it a travesty: “This extreme technological censorship requires rigorous public and parliamentary scrutiny that is totally missing.” Big Brother Watch has pledged to fight the measures.

These phone-level controls do not exist in isolation. They slot directly into the UK’s wider digital ID infrastructure, already exposed as a dystopian experiment in mass surveillance.

The government’s One Login platform and planned GOV.UK Wallet create a centralized system for identity verification across public services, with biometric data, audit trails logging every use, and a permissions framework that can deny access to everything from jobs to age-restricted purchases.

What begins as convenient “right-to-work” checks or alcohol verification quickly becomes a comprehensive record of daily life, open to expansion and abuse.

The ambition reaches even further back – to the cradle. Labour ministers have privately discussed assigning digital IDs to newborn babies alongside their health records, modeled on Estonia’s system.

Framed initially as a tool to tackle illegal immigration through right-to-work verification, the scheme has ballooned into a cradle-to-grave tracking apparatus. Critics across the spectrum have labeled it a sinister overreach with nothing to do with stopping the boats and everything to do with building a permanent digital file on every citizen from birth.

Shadow ministers and former cabinet figures have condemned the lack of debate and the affront to British traditions of liberty.

This national infrastructure mirrors global blueprints pushed by the World Health Organization and funded by the Gates Foundation. A WHO document outlines a globally interoperable digital identity system for permanent, lifelong tracking of vaccination status from birth registration onward.

Records would integrate personally identifiable information with socioeconomic data including household income, ethnicity and religion. AI would target the “unreached,” combat “misinformation,” and support conditioning access to education, travel and other services on compliance.

Community health workers and digital alerts would enforce behavior, while fast healthcare interoperability standards enable cross-border data sharing. The architecture is explicitly designed for surveillance and control, not mere convenience.

The picture sharpens further with recent pushes for AI-designed “super vaccines.” Cambridge researchers have created the first entirely AI-generated antigen, tested in humans, aimed at training immunity against entire families of viruses rather than single strains.

Data drawn from viral surveillance programs feeds these systems. While presented as pandemic preparedness, the combination with digital ID infrastructure creates obvious pathways for tracking compliance.

Refusal could trigger digital consequences – restricted access to services, finance or movement – under the same “safety” logic already being applied to phones and age verification. The surveillance grid expands while public oversight remains minimal.

Real concerns about child exploitation and online harm are being weaponized to justify systems that deliver mass identification, device-level control, client-side scanning and lifelong data profiles.

While children can bypass the restrictions; adults lose the fundamental right to anonymous communication and private device use. The same political class that has presided over record migration, grooming scandals and institutional failures now demands ever more intrusive tools to monitor the population it claims to protect.

This is not incremental safety policy. It is the deliberate construction of an authoritarian digital regime. Every new verification layer, every leaked proposal for device lockdown, every tie-in with global vaccine-tracking architectures erodes the space for individual autonomy.

Britain is being marched toward a future where showing a passport-equivalent digital ID becomes the price of entry to the internet, to commerce, to normal life – all while the architects insist it is voluntary and ‘for the children’.

It is a stark crossing of the Rubicon indeed. The only question is whether the British public will recognise the destination in time to turn back.

Tyler Durden
Sat, 06/06/2026 – 10:30

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Goldman’s World Cup Winner Prediction Is …

Goldman’s World Cup Winner Prediction Is …

The 2026 Football World Cup kicks off June 11, with Mexico vs. South Africa opening the tournament at Mexico City Stadium.

The tournament will feature 48 teams across 104 matches at stadiums in the U.S., Canada, and Mexico from next Thursday through July 19.

Jan Hatzius, chief economist and head of global investment research at Goldman Sachs, published a cheat sheet for clients that used a forecasting model built around Elo ratings – the ranking system originally developed for chess – to handicap the tournament. His top pick diverges from the latest Polymarket odds, with Hatzius placing Spain at the top of the list as the most likely World Cup winner.

The model says that Spain has a 26% probability of winning the trophy, followed by France at 19%, Argentina at 14%, Brazil at 8%, and England at 5%,” Hatzius said.

He noted, “Spain is predicted to win because it has the highest Elo ranking, supported by scoring talent and good momentum into the competition. Argentina is penalised by the “winner’s slump”, i.e. the statistical underperformance of reigning champions in the following World Cup; France suffers from likely facing top-ranked Spain in the semifinals; and England underperforms its Elo rating given historical tournament disappointment, geographical headwinds (likely facing Mexico in high-altitude Mexico City), and a slightly unlucky draw.” 

Hatzius built a regression model to estimate how many goals each team is likely to score against another, using nearly 20,000 international matches since 1978. The model shows a steep decline in goal scoring, with much of it occurring after World War II.

Elo measures national team strength based on results and opponent quality, updating as teams win, lose, or draw. By this metric, Hatzius and his team place Spain No. 1, ahead of Argentina and France, which differs slightly from FIFA’s official men’s rankings.

Most Likely Predicted Group Stage Results

Road To Winner

Unlike our previous notes on Goldman’s World Cup probabilities in 2022, 2018, and 2014, the rise of Polymarket has changed the betting game, bringing prediction markets directly into the sports-betting mainstream.

The latest Polymarket odds show France at 17%, Spain at 16%, and England at 11%…

…putting market pricing at odds with Goldman’s model, which ranks Spain as the winner.

Professional subscribers can read the full World Cup note here at our new Marketdesk.ai portal. 

Tyler Durden
Sat, 06/06/2026 – 09:55

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Gordon-Darby Prepares to Renew Effort to Commandeer New Hampshire in Order to Maintain Emissions Testing Contract

Gordon-Darby Holdings had a lucrative contract running New Hampshire’s vehicle emissions testing program. Understandably, Gordon-Darby was disappointed when the New Hampshire state legislature repealed the program and canceled the contract. So Gordon-Darby did what many companies would do: It filed suit seeking a court order requiring New Hampshire to maintain the testing program.

Lacking any contractual basis for its suit, Gordon-Darby claimed that New Hampshire was required to maintain its vehicle emission testing program under the federal Clean Air Act. The problem for Gordon-Darby is that the Clean Air Act does not actually require states to do anything, in that states are not forced to adopt or enforce any pollution control measures. Rather, the Act seeks to induce state cooperation by threatening various sanctions if states do not comply, such as a loss of federal funding and the imposition of federal regulations. The Act is structured this way because a direct imposition on the state would be unconstitutional, as the federal government conceded to the Supreme Court when these issues were litigated in the 1970s. Since then, the Supreme Court has made explicit that federal law cannot force states to adopt, implement, or enforce a federally desired regulatory program, as any such requirement would be unconstitutional commandeering.

Gordon-Darby first suit foundered when the U.S. Court of Appeals for the First Circuit concluded the litigation was premature. As the district court had looked more favorably on the claims , Gordon-Darby announced its plans to try again. Accordingly, it filed a new notice of intent to sue, raising the same claims.

In the first litigation, the state largely defended on narrow technical grounds, and largely failed to raise the commandeering defense. In my view, this was a mistake, as the anti-commandeering doctrine is quite clear and, in some respects, has its roots in a nearly identical conflict, when the EPA sought to force states to adopt vehicle emission inspection programs in the 1970s. Thus even if Gordon-Darby overcomes the various technical hurdles to filing suit, it has no claim, as it is asking for relief that federal courts cannot lawfully provide.

As Gordon-Darby filed its new notice of intent to sue on May 8, I suspect this means we will see a suit filed in early July. Stay tuned.

The post Gordon-Darby Prepares to Renew Effort to Commandeer New Hampshire in Order to Maintain Emissions Testing Contract appeared first on Reason.com.

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Is the Endangered Species Act Being Used to Commandeer State Governments?

Environmental organizations have filed citizen suits against state and local governments alleging that their failure to regulate more stringently, or their issuance of permits to particular activities, violate the Endangered Species Act (ESA). In effect, these suits seek to hold state and local governments vicariously liable for harms to listed species.

There are questions about whether the ESA should be interpreted or applied in this fashion. There are also questions about whether the imposition of vicarious liability on state and local governments violates the anti-commandeering principle undr ew York v. United StatesPrintz v. United States, and NCAA v. Murphy.

Last week I hosted a Federalist Society forum, “Commandeering for Conservation?” in which Jonathan Wood of PERC and William Snape of American University’s Washington College of Law discussed and debated this question.

For what it is worth, I am with Jonathan Wood on this question, for reasons I explained in this post (and will elaborate on in a forthcoming paper).

The post Is the Endangered Species Act Being Used to Commandeer State Governments? appeared first on Reason.com.

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Gordon-Darby Prepares to Renew Effort to Commandeer New Hampshire in Order to Maintain Emissions Testing Contract

Gordon-Darby Holdings had a lucrative contract running New Hampshire’s vehicle emissions testing program. Understandably, Gordon-Darby was disappointed when the New Hampshire state legislature repealed the program and canceled the contract. So Gordon-Darby did what many companies would do: It filed suit seeking a court order requiring New Hampshire to maintain the testing program.

Lacking any contractual basis for its suit, Gordon-Darby claimed that New Hampshire was required to maintain its vehicle emission testing program under the federal Clean Air Act. The problem for Gordon-Darby is that the Clean Air Act does not actually require states to do anything, in that states are not forced to adopt or enforce any pollution control measures. Rather, the Act seeks to induce state cooperation by threatening various sanctions if states do not comply, such as a loss of federal funding and the imposition of federal regulations. The Act is structured this way because a direct imposition on the state would be unconstitutional, as the federal government conceded to the Supreme Court when these issues were litigated in the 1970s. Since then, the Supreme Court has made explicit that federal law cannot force states to adopt, implement, or enforce a federally desired regulatory program, as any such requirement would be unconstitutional commandeering.

Gordon-Darby first suit foundered when the U.S. Court of Appeals for the First Circuit concluded the litigation was premature. As the district court had looked more favorably on the claims , Gordon-Darby announced its plans to try again. Accordingly, it filed a new notice of intent to sue, raising the same claims.

In the first litigation, the state largely defended on narrow technical grounds, and largely failed to raise the commandeering defense. In my view, this was a mistake, as the anti-commandeering doctrine is quite clear and, in some respects, has its roots in a nearly identical conflict, when the EPA sought to force states to adopt vehicle emission inspection programs in the 1970s. Thus even if Gordon-Darby overcomes the various technical hurdles to filing suit, it has no claim, as it is asking for relief that federal courts cannot lawfully provide.

As Gordon-Darby filed its new notice of intent to sue on May 8, I suspect this means we will see a suit filed in early July. Stay tuned.

The post Gordon-Darby Prepares to Renew Effort to Commandeer New Hampshire in Order to Maintain Emissions Testing Contract appeared first on Reason.com.

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via IFTTT

Is the Endangered Species Act Being Used to Commandeer State Governments?

Environmental organizations have filed citizen suits against state and local governments alleging that their failure to regulate more stringently, or their issuance of permits to particular activities, violate the Endangered Species Act (ESA). In effect, these suits seek to hold state and local governments vicariously liable for harms to listed species.

There are questions about whether the ESA should be interpreted or applied in this fashion. There are also questions about whether the imposition of vicarious liability on state and local governments violates the anti-commandeering principle undr ew York v. United StatesPrintz v. United States, and NCAA v. Murphy.

Last week I hosted a Federalist Society forum, “Commandeering for Conservation?” in which Jonathan Wood of PERC and William Snape of American University’s Washington College of Law discussed and debated this question.

For what it is worth, I am with Jonathan Wood on this question, for reasons I explained in this post (and will elaborate on in a forthcoming paper).

The post Is the Endangered Species Act Being Used to Commandeer State Governments? appeared first on Reason.com.

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‘Take The Badge Off’: Former Ferrari Boss Slams New $635k EV That Company Thinks Will Attract ‘Younger Buyers’

‘Take The Badge Off’: Former Ferrari Boss Slams New $635k EV That Company Thinks Will Attract ‘Younger Buyers’

One week after Ferrari unveiled its first-ever all-electric car, called the Luce, the design continues to divide analysts. Some referred to the new model as a “mix between a Honda Accord EV and a Tesla,” while others said that Tesla’s Model S Plaid was far superior. The latest report from Goldman analysts provided new details about their most recent visit to Ferrari’s headquarters in Maranello.

Last Friday, Ferrari hosted an investor day, which analyst Christian Frenes attended. He spoke with top Ferrari executives just days after the Luce reveal event in Rome earlier in the week.

Frenes said management framed the Ferrari Luce as an “additive range model designed to expand the customer base.

He continued:

Management reaffirmed the Luce as a strategic entry point to engage new demographics and regions, particularly in markets with higher BEV penetration such as Asia and the Nordics while also targeting a new and younger customer group. The exterior design intentionally distinguishes the EV from existing ICE and PHEV models. Management also reaffirmed it remains aligned with its “technological neutrality” approach continuing to sell V12s and V8s to those interested.

Beyond design, Ferrari’s battery-powered, four-door, five-seat Luce has another problem: its price tag – a staggering 550,000 euros, or about $638,660. If Ferrari expects that to open the brand to a younger, broader customer base, management certainly has a different view of the world – one that isn’t grounded in reality.

For starters, Tesla’s Model S Plaid costs only a fraction as much and, on key performance metrics, appears to outperform the Luce. The Model S also comes with Full Self-Driving, a feature we are fairly certain Ferrari’s first EV lacks.

By the end of last week, Ferrari CEO Benedetto Vigna appeared to be on damage-control duty after shares dropped in response to negative investor reaction to the Luce’s design and performance specifications.

Let’s not forget that Ferrari hybrids are depreciating faster than their petrol-powered counterparts. This is a sign that car collectors are shunning anything electric (read the report). 

Shares have yet to recover to pre-Luce reveal levels.

Beyond the terrible design and high price, one could debadge the Luce, and it would be hard to decipher the car from a Kia or Toyota or even a Nissan … 

That problem itself has infuriated Luca Cordero di Montezemolo, the former Ferrari president, who told local media that the Luce “risks destroying a legend, and I’m deeply sorry. I hope they at least remove the Prancing Horse from that car.”

American automotive YouTuber Doug DeMuro said Luce has the specs of a “nice Polestar” .. .

Professional subscribers can read the full Ferrari note at our new Marketdesk.ai portal.

Tyler Durden
Sat, 06/06/2026 – 08:45

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UK Conservatives Blast Labour North Sea Ban As ‘Utter Madness’

UK Conservatives Blast Labour North Sea Ban As ‘Utter Madness’

Authored by Tsvetana Paraskova via OilPrice.com,

The current UK government’s policy of not allowing new drilling in the UK North Sea is “utter madness” as billions of barrels of untapped oil could benefit the UK industry and reduce Britain’s reliance on imports, Kemi Badenoch, the leader of the opposition Conservative Party, has said.

The ruling Labour government of Sir Keir Starmer has recently moved to permanently ban new oil and gas licenses in the UK section of the North Sea, drawing criticism from the UK offshore industry associations and from the Tories.

The Conservatives’ Badenoch commented this week on a new study by the University of Aberdeen, whose researchers said on Wednesday that it would be “economically, environmentally, and strategically beneficial for the UK to prioritise domestic oil and gas production rather than increasing reliance on imports.”

The University of Aberdeen’s peer-reviewed study found that significant untapped potential remains in the West of Shetland basin, which is estimated to contain about 4.7 billion barrels of oil equivalent (boe) yet to be discovered.

The study highlights that the remaining potential in the area could extend the life of the UK oil and gas sector, said Nick Schofield, Professor of Igneous & Petroleum Geology at the University of Aberdeen.

“West of Shetland is not a depleted frontier – it is a technically demanding but strategically important energy province,” Schofield noted.

The study showed the “utter madness” of the ruling Labour in opposing drilling in the North Sea, Badenoch said.

“The University of Aberdeen survey just demonstrates the utter madness of the stance taken by Keir Starmer and John Swinney,” the leader of the Conservatives said in remarks carried by Belfast Telegraph.

“Domestic oil and gas are vital to the nation’s energy security, as well as being the economic lifeblood of the North East,” Badenoch said.

“Yet the industry is on its knees due to the windfall tax and the ban on new developments. The Conservatives would scrap both immediately,” she added.

Tyler Durden
Sat, 06/06/2026 – 08:10

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