(13 years, 5 months ago)
Commons ChamberThere is varying evidence on the effect. There is certainly some evidence that it has pushed up prices, but there is also evidence that hedging can help consumers. We have had discussions with countries, including Saudi Arabia, and it is willing to increase oil production to deal with any market shortages that might arise. I am satisfied from those discussions that demand can be met by increased supply, so shortages should not be a factor in pushing up prices.
5. What recent assessment he has made of the adequacy of the nuclear safety regime in the UK; and if he will make a statement.