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Lord Moynihan (Con)

Speaking in the House of Lords on 15 June 2026

Debate

Pollution Prevention and Control (Fees) (Miscellaneous Amendments) Regulations 2026

Contribution

Does the Minister agree that the issue is not a reduction in the oil and gas available? After all, in 1990, we were at just over 2 million barrels a day and so was Norway. By 2000, we were each producing just over 4 million barrels a day. Norway has continued to produce, because its fiscal and regulatory regime has encouraged production in the North Sea from the private sector. It still produces more than 4 million barrels a day, yet we have dived to well under 1 million. That is not to say that the oil and gas are not there but that there is no licensing, fiscal and regulatory regime in place to encourage the development of those fields—their exploration, appraisal and production. It is not as if there is suddenly no more oil and gas west of the median line. The basis of Norway’s successful investment in the North Sea is that its fiscal and allowance regime has encouraged that. That is the issue; it is not the molecules.

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