Resume Licensing North Sea Oil Drilling to Reduce UK Energy Import Dependency.

Background

We call on the Government to resume North Sea Drilling licences. Domestic production would reduce reliance on energy imports while increasing national energy security and stabilise household energy bills. Revenue generated from oil exports should be ringfenced to fund investment in renewable energy.

Additional details

The UK faces ongoing energy insecurity and high household bills driven by dependence on imported oil and gas. During periods of global uncertainty (the ongoing war with Iran), this leaves British consumers exposed to volatile prices. North Sea Reserves offer a domestic solution that can stabilise supply and reduce bills in the short to medium term. Export revenues can then be used to fund a dedicated renewables investment fund, accelerating the green transition without burdening taxpayers.