On Tuesday 20 May 2025, Nick Timothy MP pointed out the madness of Labour’s approach to energy in his speech to a parliamentary committee that was examining new environment regulations.
He said: “We are refusing to drill for our own natural resources – while importing oil and gas drilled from the very same seabed from Norway, impoverishing ourselves and enriching the Norwegians.”
Below is the full text of his speech, which can also be found on Hansard at Column 2.
Nick Timothy: It is a pleasure to serve under your chairmanship this afternoon, Dr Murrison. I am pleased to respond to the draft regulations on behalf of His Majesty’s Opposition. This legislation, as we have just heard, will increase the hourly rate of fees charged under environmental regulations related to the offshore oil and gas industry. There may not be an impact assessment for this specific change, but it is part of a broader shift in energy policy that is increasing costs and threatening the viability of our offshore industries.
It is, I am afraid, economic madness to refuse to issue new licences in the North sea and to tax the oil and gas sector out of existence. Doing so only makes us more dependent on dirtier foreign imports—imported liquefied natural gas produces four times the emissions of North sea oil and gas. It also puts around 120,000 jobs at risk and will lead to less revenue for the Exchequer in the long run, at a time when the public finances are under strain.
I invite the Minister to see the madness of that approach. We are refusing to drill for our own natural resources while importing Norwegian oil and gas drilled from the very same seabed, impoverishing ourselves and enriching the Norwegians. The company profits, the jobs, the prosperity and security, the tax revenues—it all goes to Norway when it could be ours. It is surely no coincidence that we now have the highest industrial energy prices in Europe, while data published yesterday shows that the output of our energy-intensive industries has fallen to a 35-year low.
Removing oil and gas from the equation is an ideological and destructive move. It does not serve our national interest or help our struggling industries. The Government should be much more hard-headed about their approach to energy. Lower prices, more jobs, higher growth and stronger revenue, not ideology, should be the objectives. Instead, the Secretary of State for Energy Security and Net Zero is driving us towards economic and national decline.
