UK Should Change North Sea Oil and Gas Policy, Tony Blair Institute Says

The UK should rethink its approach to oil and gas in the North Sea, allowing exploration drilling and easing taxes for the industry, according to a report from the Tony Blair Institute.

The report marks the latest criticism of the Labour Party’s current policy, which bans new exploration drilling in the aging North Sea basin and maintains a windfall tax until March 2030, despite industry calls for it to be replaced this year. The government led by Keir Starmer has committed to delivering both cheaper and cleaner power by 2030.