Member

Of course, North Sea production continues to play an important and valuable role in our energy system, but as we learn the right lessons from this crisis, this Government will not succumb to the false arguments peddled by some. It is a maturing basin and accounts for less than 0.7% of global oil and gas production. New exploration licences are completely marginal to that basin, and would make no difference to prices set by international markets and paid by UK bill payers.