Labour urged to support oil and gas sector to enable green transition

A Labour government should commit to supporting the UK’s oil and gas industry to aid the UK’s transition to green energy and boost the economy, a leading sector figure has said.

When asked to comment on Labour’s energy policy and what the party should do if it wins the next election, Mr Whitehouse said: “In the debate about homegrown energy transition, we should be promoting our own jobs and our own skills. We should be promoting our own companies. “In a world where there is a genuine cost-of-living crisis, we need economic value in our society, and if the path forward is economic growth then we want policies that recognise that and support all sectors.”

Currently the industry provides about half the UK’s fossil fuel needs, with three-quarters of domestic energy dependent on oil and gas. “If you look at the geopolitical world that we are in at the moment, then there will be a real concern the UK will struggle.” The report identified an urgent need for “strategic action” to enable supply chain companies to seize a projected 4% annual increase in spending on these new technologies.

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