Just a week after the so-called “Energy Independence” Bill, we now have news that the UK is increasing imports of oil and gas linked to Russia because of supply pressures caused by conflict in the Middle East.
That alone exposes the contradiction at the heart of current energy policy. While ministers talk about independence, the reality is that Britain is becoming more reliant on imported energy at the very moment global instability is increasing.
All this despite having substantial reserves and a domestic industry of our own sitting in the waters around the UK.
This debate needs to move beyond the narrow argument around household bills. Domestically produced gas is materially cheaper — and significantly cleaner — than imported LNG. But the bigger issue is resilience: keeping the lights on, homes heated, hospitals functioning and supply chains moving during periods of global uncertainty.
The worrying part is how little public understanding there seems to be around the genuine risks of energy insecurity. For many people it still feels theoretical, despite events around the world repeatedly demonstrating how fragile supply chains can become.
Yet instead of strengthening domestic capability, the UK is weakening it. The North Sea is being wound down at pace while neighbouring countries continue to maximise production and sell oil and gas back into markets like ours.
At the same time, industry has already put forward credible proposals that could unlock £17.5 billion of investment over the next four years, support thousands of jobs and deliver an additional 1.1 billion barrels of production — if government were willing to provide a more stable and pragmatic policy environment, and move to the Oil and Gas Price Mechanism.
And the argument that new developments take a decade to deliver simply does not stand up in every case. The Jackdaw field, for example, could be contributing around 6% of UK domestic gas demand and pumping into the UK gas network this year if approvals were in place.
There is, of course, a legitimate debate to be had about the pace of transition and the future shape of the UK’s energy mix. But what we have at the moment is not a balanced transition strategy. It is a policy approach that risks weakening domestic industry, increasing reliance on imports and exporting both jobs and emissions overseas.
This misplaced ideology is already damaging jobs, communities and confidence across the UK while doing nothing to reduce global carbon emissions.
The country needs a more pragmatic and balanced energy strategy — one that recognises the ongoing role of the North Sea during the transition, protects energy security and supports the industries and workers that still underpin large parts of the UK economy.
If ministers are unwilling to adapt their approach in the face of mounting evidence, then serious questions have to be asked about whether their policy choices are sustainable for either the economy or the country.