Tony Blair urges Labour to reverse ban on new licences for oil drilling in the North Sea
Keep drilling for oil in the North Sea, says Tony Blair
- Tony Blair's think tank has urged the Labour government to reverse its ban on new North Sea oil and gas licences.
- The Tony Blair Institute (TBI) also called for a reduction in the windfall tax rate on oil and gas firms, stating current policies have increased risk and driven capital away.
- The TBI report argues that the government's clean power plan is 'leading the UK in the wrong direction' and is 'climate theatre' rather than 'climate leadership'.
- Labour's current policy commits to phasing out North Sea oil and gas production by restricting new licences and increasing the Energy Profits Levy.
- The TBI's recommendations echo comments made by Donald Trump, who has criticised the UK for not utilising its North Sea reserves.
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