International Energy Agency Report

Lord Howell of Guildford Excerpts

Tuesday 26th April 2022 Lords Chamber

[Lord Callanan (Con)]

I do not disagree with the noble Lord. We are encouraging people to play their part and, of course, we encourage people to drive as slowly as possible and responsibly. We encourage people to turn down the temperature of their boiler if this can be achieved while still heating their home properly and providing the appropriate levels of comfort. Of course we will support people to make responsible choices.

[Lord Howell of Guildford (Con)]

My Lords, I declare an interest in energy matters, as set out in the register, and a long time ago I was a rotating chairman of the International Energy Agency. The noble Lord, Lord Rooker, is quite right that increased efficiency and reduced oil intensity are ways to reduce the growth of demand and renounce Russian exports. However, is not the best way, in the very short term, to get the OPEC producers of oil and gas to increase their supply, which they can easily do, and bring down petrol and gas prices very quickly, which that would do? As OPEC has broken with the IEA recently, should we not be pressing that issue much more directly with our so-called friends in the Gulf?

[Lord Callanan (Con)]

My noble friend makes an important point. As well as encouraging OPEC to increase production, we are trying to increase production from our own domestic sources and ensure that there is increased investment in our own resources in the North Sea.