Licensed Oil and Gas Fields: Emissions

Lord Mackinlay of Richborough Excerpts

Tuesday 11th March 2025 Lords Chamber

[Lord Hunt of Kings Heath (Lab)]

My Lords, in relation to the North Sea, the Offshore Petroleum Regulator for Environment and Decommissioning has an important role to play in the work that is undertaken on oil and gas. Of course, we have wider environmental law. Defra has a role to play. The Department for Transport—obviously, in relation to the tragic incident that has taken place—also has a role to play. On the point the noble Baroness raised, there has to be a cross-government approach to protecting biodiversity and the health of our seas. My department certainly plays its part in that.

[Lord Mackinlay of Richborough (Con)]

My Lords, I declare that I will become the director of the Global Warming Policy Foundation from next month. Have the Government assessed the amount of lost investment, lost jobs, lost tax revenue and lost balance of payments costs in the unwelcome approach that we take to new gas and oil in the UK? We are simply substituting supply with that of our foreign competitors, notably Norway, Qatar and the US. Into the future, that could be domestic.

[Lord Hunt of Kings Heath (Lab)]

My Lords, as an avid reader of the Daily Telegraph, I was of course well aware of the noble Lord’s appointment. I heartily congratulate him on it and welcome him to our debates on energy. However, he is wrong. The best way to proceed is the way we are doing, by ensuring that we grow home-produced, clean-power energy. This is the best way to grow the economy. As for investment in the North Sea, the very fact that we are producing a consultation on environmental impact assessment and last week produced our consultation in relation to our policy of issuing no more licences gives clarity to the industry in which investment can continue to take place.