"The decline of the North Sea oil and gas basin means that the UK's reliance on gas imports is likely to increase sharply from about 14% last year to more than a quarter of its gas supply by 2030, and almost half by 2035."
"Issuing new licences to explore new fields cannot give us energy security and will not take a penny off bills. Regardless of where it comes from, oil and gas is sold on international markets, which set the price for British billpayers."
"Recent events have shown how quickly energy markets can tighten and how easily cargoes can be diverted away from the UK when other buyers bid higher."
The UK government has rejected warnings from Offshore Energies UK regarding the need for increased domestic oil and gas production. The industry group emphasizes that without more homegrown energy, consumers will face greater exposure to global market volatility and higher emissions. The ongoing conflict in the Middle East has exacerbated supply issues, causing UK gas prices to surge. The government argues that new exploration licenses will not ensure energy security or reduce consumer bills, highlighting the UK's increasing dependence on gas imports in the coming years.
Read at www.theguardian.com
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