Oil and Gas Industry

Baroness Jones of Moulsecoomb Excerpts

Tuesday 22nd September 2020 Lords Chamber

[Lord Callanan (Con) [V]]

The noble Lord is right. Carbon capture and storage will be a key part of our future energy requirements. The Chancellor announced the new carbon capture and storage infrastructure fund of at least £800 million. We are committed to deploying carbon capture and storage in at least two industrial clusters over the next decade.

[Baroness Jones of Moulsecoomb (GP)]

My Lords, parts of our world are burning; parts of it are melting. We are already committed to a one degree rise in temperature globally. The Government are not feeling the urgency of this. We have to stop fossil fuel burning now. It is no good talking about transitioning and having little dribs and drabs of plans. The Government need a vision. If I can help with that, I would be delighted.

[Lord Callanan (Con) [V]]

I thank the noble Baroness; I admire her commitment to these causes. In essence, we agree, albeit probably not on the scale she requires. The UK was the first major world economy to legislate for net zero. We were one of the first countries to commit to ending unabated coal generation and we intend to do that by 2024. I hope that the noble Baroness will also recognise that the oil and gas sector has a key role to play in supporting the transition through its skills, infrastructure and investment. As we move to a low-carbon economy, oil and gas will play an increasingly small role, but we need to utilise the skills that exist in the industry.