The Chancellor has backed more oil and gas drilling in the North Sea
Rachel Reeves has backed more North Sea drilling in a potential split with Ed Miliband. The Chancellor said she was “very happy” to back exploration at Rosebank oilfield and Jackdaw gasfield. The Energy Secretary, who is leading Labour’s net zero push, is expected to make a decision on whether to grant licences for the two . It comes as the Iran conflict has sent fuel prices soaring as fears grow over the cost of living.
Ms Reeves told BBC Radio 2: “It would, of course, create jobs and tax revenue, and that is why we continue to support oil and gas for decades to come. We have now got the disruption in the Middle East and it’s hard to get the oil and gas out of the Strait of Hormuz, which is pushing up prices.”
Ms Reeves said: “It does show that we have got to take control of our own energy supplies here in Britain.”
She added: “We said in our manifesto we would honour existing licences but the courts overturned the previous government’s decision.”
Labour pledged not to give the green light to new oil and gas drilling in its election manifesto.
It comes after Tory leader Kemi Badenoch pressed Sir Keir Starmer to approve new licences for drilling in the North Sea at PMQs last week.
