Labour plans to halt new oil and gas licences in the North Sea, citing energy security and climate concerns.
Labour plans to halt new oil and gas exploration licences in the North Sea, stating it won't aid energy security or reduce bills while exacerbating climate issues. The Conservatives warn this could cost £4.5bn in tax revenues, risk 200k jobs, and increase reliance on foreign energy imports, potentially leading to blackouts. Labour will not revoke existing licences and plans to close windfall tax loopholes to fund clean energy initiatives.
June 16, 2024
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