Grant Shapps Highlights the Importance of New Oil and Gas Licences for the UK

Summary:

• Transport Secretary Grant Shapps emphasizes the importance of issuing 100 new oil and gas licenses this autumn.
• Shapps warns that without these licenses, the UK would have to rely on higher-emission fossil fuel imports, leading to increased carbon emissions.
• The government aims to support the oil and gas industry, preserve jobs, and maintain tax revenue through the issuance of these licenses.

Transport Secretary Grant Shapps has emphasized the significance of issuing 100 new oil and gas licenses this autumn. He asserts that these licenses are crucial for heating homes and fueling vehicles that have not yet transitioned to electric. Shapps warns that failing to provide these licenses would force the country to import oil and gas, resulting in higher carbon emissions, job losses, and reduced tax revenue.

During a recent event, Grant Shapps discussed the government's commitment to issuing 100 new oil and gas licenses. He described these licenses as 'massively important' for meeting the energy needs of UK households and ensuring a continuous fuel supply for non-electric vehicles. Shapps highlighted that without the licenses, the only alternative would be to import oil and gas, which would lead to four times more carbon emissions compared to producing it domestically.

Shapps also addressed the potential consequences of not providing these licenses. He expressed concerns about the loss of jobs and tax revenue if the country were to depend on imports. Additionally, he stressed the environmental impact of increased carbon emissions resulting from importing fossil fuels.

The Transport Secretary urged a pragmatic approach, emphasizing the need to strike a balance between environmental goals and ensuring the well-being of UK citizens. He stated that advocating for an absolutist stance on fossil fuels would have real-world consequences, such as asking people to endure cold winters without heating or relying on higher-emission imports.

Grant Shapps criticized the Labour Party's policy of opposing these licenses, stating that it would be irresponsible not to support regions like Teeside and beyond, which heavily rely on the oil and gas industry.

In conclusion, the government's commitment to issuing 100 new oil and gas licenses this autumn is deemed 'massively important' by Transport Secretary Grant Shapps. The move is aimed at securing the energy needs of households and industries, while also ensuring job retention and tax revenue. Shapps urges a balanced approach, considering both environmental concerns and practical realities.