‘Let’s drill... it’s crazy to ignore Britain’s cheap reliable energy’
KEMI Badenoch will visit an oil rig tomorrow as she launches a campaign to “get Britain drilling”.
The Tory leader has branded Labour’s refusal to grant new oil and gas drilling licences as “stupid” and “completely crazy” as global markets are rocked by the conflict in Iran.
The future of Britain’s remaining oil and gas reserves in the North Sea is now one of the key dividing lines in UK politics, and the Conservative leader is adamant the country should maximise domestic production.
A new Tory advertising campaign will claim Labour’s ban on new oil and gas licences has “left 2.9 billion barrels in the ground, risking 200,000 jobs”.
The party also wants to end the energy profits levy, or ‘windfall tax’, it blames for stopping investment.
‘It’s security, more jobs and good for business’
Under its plans, a new North Sea Authority would have focus on maximising oil and gas extraction, replacing the North Sea Transition Authority.
Pushing for a change in direction, the Tories state: “Continuing down this path of higher energy bills, job losses, and lower economic growth will make us a warning, not an example, to the rest of the world.
“We must put cheap, reliable energy and a stronger economy first.”
The party argues that the UK could be importing as much as 82% of its gas by 2035, leaving bill-payers vulnerable to shifts in oil price.
It fears Britain could suffer another blow to energy security if transatlantic supplies of liquified natural gas are
curtailed. Mrs Badenoch said: “Labour’s ban on new oil and gas drilling licences was stupid when they put it in their manifesto; in the middle of an energy crisis it’s completely crazy.
“Drilling our own oil and gas is about energy security, it’s about financial security, it’s about national security. It’s more jobs, good for business and provides tax revenues that could be used to bring down bills.”
Mrs Badenoch claimed that the “real reason that Labour are refusing new licences is that [Energy Security Secretary] Ed Miliband is now running the government”.
She added: “We need to get Britain drilling. A strong economy relies on cheap, abundant energy.”
There is concern across the political spectrum about Britain’s dependence on energy imports.
A spokesman for the GMB union said last week: “It is absolutely critical for the UK’S national security that we have a strong manufacturing base and secure supply of domestic oil and gas.”
He added: “Relying on imports from other countries for the essential elements that power our economy and keep the country going leaves us worryingly exposed.” The government was approached for comment.