North Sea Oil and Gas Industry

Gregory Stafford Excerpts

Monday 27th October 2025 Commons Chamber

[Michael Shanks]

I do not know whether the footnote to the hon. Gentleman’s question says this, but even if we were to issue new licences, what we extracted from the North sea would be traded on the international market and we would pay the price that is traded on the international market. I would like to understand the hon. Gentleman’s logic in respect of how that would help us to bring down bills; it is not the case. Let me be clear about this: the long-term future of our energy system is a mix of nuclear and renewables. Removing ourselves from the volatility of fossil fuels is the only way forward, but it is also an economic opportunity for his constituents and those of Members on both sides of the House. We will build this infrastructure here with a proper industrial strategy to create the jobs of the future.

[Gregory Stafford (Farnham and Bordon) (Con)]

Can the Minister explain to my constituents how banning new drilling for oil and gas while importing gas from other countries at a higher cost will bring their bills down by £300, and can he say when that will happen by?

[Michael Shanks]

Let me say to the hon. Gentleman’s constituents, and indeed to anyone’s constituents, that over the past few years they have been paying the price for what happens as a result of our exposure to fossil fuels. The last Government had to spend tens of billions of pounds on reducing people’s bills because of that exposure. The hon. Gentleman may have forgotten about that, but I can tell him that his constituents will not have, because they are still paying the price for it. This Government are determined not to make the same mistake again. The Opposition are willing to go back to the fossil fuel casino again and again and hope that it gives them a better hand, but we are going to build the clean power system of the future and bring down bills for good.