Harriet Cross

We are exporting to Europe now and bringing it back—Rotterdam is a lot closer than, for example, Canada, Nigeria or Algeria, where we are importing a lot of our oil from. There are some questions on the financial forecasts that I would like the Minister to address. Last year, the Exchequer Secretary to the Treasury confirmed that the OBR’s forecasts do not provide a breakdown of individual fields, yet Rosebank was specifically referenced in this year’s forecast accompanying the Budget. Can the Minister explain why? Was the OBR given assurances by the Government that the field would be permitted? If Rosebank does not proceed, will the forecast need to be revised? I would also like the Minister to clarify another inconsistency. Last month, the Foreign Secretary signed off the Sea Lion oilfield in the Falklands, which is twice the size of Rosebank. Both Sea Lion and Rosebank have published their scope-free calculations, so why has one been allowed while the other is still stuck in limbo? Why are the Government supporting jobs and growth in Port Stanley, but not in Aberdeen? The debate on Rosebank should not be about climate change, emissions or use of oil and gas, because not permitting Rosebank will not mean that our demand for oil and gas disappears overnight. This is a debate about jobs, business and UK industry. Businesses need confidence, and oil and gas operators and supply chains are no different, yet the Government are sending completely contradictory signals. One minute, they recognise the importance of domestic production and jobs by permitting Jackdaw; the next, they continue to delay Rosebank and press ahead with their plan to ban new oil and gas licences. It should not even need saying, but sadly it does: no business—oil and gas or otherwise—is obligated to invest in the UK. Firms can put their money, employ people, grow their businesses and produce their energy elsewhere, and increasingly they are choosing to do so. That is bad in so many ways for the UK—there is no plainer way of saying it. The Government are pushing investment abroad, driving down production and with it our energy security, sacrificing tens of thousands of jobs and skills that have taken more than half a century to develop, and—knowingly and deliberately—making us increasingly reliant on more carbon-intensive imports, precisely when we have seen how fragile international supply chains are.