UK PM, Opposition Leader Spar Over North Sea Oil, Gas Policy
Badenoch asked whether Starmer would “approve the licenses for Rosebank oil field and Jackdaw gas field in the North Sea.”
Starmer replied that the decision falls under the energy secretary’s remit, and emphasized that the most effective way to “take control of our energy prices” is by investing in renewable energy.
Badenoch argued that granting new licenses would demonstrate the prime minister’s commitment to lowering household energy bills.
Starmer countered by highlighting measures the government has already taken to “protect households across the country” and attributed the recent price increases to the US-Israeli conflict with Iran. He stressed that the government’s approach combines renewable energy development with responsible use of oil and gas resources.
Oil prices fell Wednesday as supply concerns eased following remarks by US President Donald Trump regarding negotiations with Iran, after attacks by American and Israeli forces on Iran in late February and Tehran’s subsequent closure of the Strait of Hormuz.
Brent crude, the international benchmark, traded at $96.52 per barrel at 9:32 a.m. local time (0632GMT), down 3.7% from the previous close of $100.23.
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