The Last Gasps of a Dying Industry: What the Horse Hill Debacle Reveals About Climate Litigation The news that UK Oil and Gas (UKOG) has sold its Surrey oilfield site at a fraction of its original value, rebranding itself as a clean energy company in the process, serves as a wake up call to those still clinging to fossil fuels.
The sale marks not only the failure of one particular project but also the beginning of the end for an industry struggling to come to terms with the reality of climate change.
The Horse Hill debacle is an example of "regulatory stranding," where climate litigation and regulatory shifts undermine the value of a fossil fuel asset.