Is expanding North Sea oil production climate vandalism or the key to lowering energy bills? Dominic O’Connell explores whether Andy Burnham could u-turn on Labour's manifesto pledge to not issue new oil and gas licences to explore new fields in the region.
Ask any climate campaigner their views on North Sea oil, and the answer is straightforward: stop drilling. While Labour came to power pledging to prioritise green energy, new Prime Minister Andy Burnham has indicated a more pragmatic stance towards tapping domestic reserves as energy security concerns grow.
In Part 2 of Power Struggle, our energy mini-series on The Business, we explore whether expanding North Sea oil field licences is essential for driving economic growth and insulating the wider UK economy. We examine how government fiscal policy, regulatory shifts, and corporate taxation impact long-term commercial investment in the sector, and other affected industries.
Dominic is joined by Greig Cameron, Scottish business editor at The Times, to discuss the fate of key offshore fields like Rosebank and Jackdaw. Plus, Amjad Bseisu, chief executive of independent operator EnQuest, explains why he thinks uncompetitive tax regimes are pushing energy investment abroad and what ending North Sea oil production means for Britain’s net zero transition.
Guests:
Amjad Bseisu, Chief executive, EnQuest
Greig Cameron, Scottish business editor, The Times
Presenter:
Dominic O’Connell, Times columnist and Times Radio business correspondent
Producer: Hope Federico
Executive Producers: Emily Leahy and Miriam Hall
Photo Credit: Getty
Get in touch: thebusiness@thetimes.com
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