Liz Truss to approve up to 130 new oil drilling licenses as soon as she becomes PM
The climate change committee has previously said it takes an average of 28 years for an exploration licence to lead to oil and gas production.
The climate change committee has previously said it takes an average of 28 years for an exploration licence to lead to oil and gas production.
The 25% tax is only on selected profits of oil and gas companies, mainly North Sea profits of what the legislation calls “ring fence trade”.
The free market think tank says we shouldn’t tax oil companies more as BP and Shell announced record profits
Priti Patel’s members’ interests register shows that she accepted funds from Andurand Ventures Ltd, the company is run by Pierre Andurand, a leading oil trader.
Millions of families up and down the country are struggling with the cost of living crisis, which according to the Bank of England has seen the cost of living hit a fresh 30-year high.
Despite Johnson’s meeting with bin Salman for 1 hour and 45 minutes there was little sign of a breakthrough.
‘Saying we are not going to rely on Russia and then going to Saudi Arabia is not an energy strategy.’
The IEA has rejected climate change targets as ‘arbitrary’.
Prospectors are eyeing up a shale reserve in South East England that could contain up to 19 billion barrels of oil.
Activists say they have set up a “protection camp” to stop drilling which is due to begin imminently.