Oil and Gas
Debate between Mike Reader and Bradley Thomas(2 weeks, 3 days ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Bradley Thomas
We are increasingly dependent on China because of decisions taken by this Government. The pursuit of renewables-based future energy infrastructure is increasingly dependent on countries that are adversarial to us and pose a risk to our long-term energy security. The hon. Member is right on that point.
This is not just about energy; it is also about jobs and public finances—something the Government know only too well, following their economic choices. The North sea has long been a vital source of revenue for the Treasury, creating billions of pounds that support public services and infrastructure. Analysis by Offshore Energies UK shows that there is £165 billion of estimated economic value in the North sea, should the Government muster the political will to seize it.
Bradley Thomas
I will not give way any further.
To accelerate the decline of that sector without a fully viable replacement is not just economically risky but fiscally short-sighted. At the same time, we must consider the livelihoods tied to the industry, as colleagues across the House have stressed. Tens of thousands of skilled workers depend directly or indirectly on oil and gas. These are not abstract numbers; they are engineers, technicians, supply chain workers, families and, more importantly, whole communities. If we move too quickly without a realistic transition plan, we do not simply phase out an industry; we create unemployment, lose expertise and weaken entire regions.
That is happening right now. This is not just a theoretical concern; it is raised by those who are closest to the issue. Trade union leaders have been clear. The general secretary of the GMB has described the Government’s stance on oil and gas as “madness”. Unite the union has warned plainly that such policies will put jobs at risk. Even Juergen Maier said that extracting more gas and oil from the North sea would boost jobs and tax revenues. Those are not voices that the Government usually say are opposed to progress; they are voices that represent working people, so why on earth are the Government choosing to ignore them?
We have to consider the global context. The UK accounts for a relatively small share of global emissions. Even if we were to reach net zero tomorrow, the impact on global temperatures would be limited. Meanwhile, major economies that compete with us continue to rely heavily on fossil fuels as they balance growth, development and transition. That is why we have to get the balance right. True leadership from the Government lies not in symbolic gestures but in practical solutions that can be adopted globally. The pursuit of net zero, as currently framed, risks becoming an exercise in self-imposed constraint—one that weakens our economy, compromises our energy security, threatens jobs, reduces vital tax revenues and lowers living standards for all, while delivering limited benefit.