Thread by @7Kiwi

In a vote tantamount to treason, Parliament decided 297-108 to put Net Zero ideology above Britain's energy security. MPs rejected a Tory motion to scrap the Energy Profits Levy, lift the ban on new North Sea licences & approve the Rosebank & Jackdaw fields. A thread (1/15)

Not a single Labour, Liberal Democrat, SNP, Reform or Restore Britain MP voted in favour. This decision came at a dangerous time – amid a the largest ever energy shock triggered by the war in Iran. (2/15)

Normally ~20% of the world's oil supply passes through the Strait of Hormuz. Since the conflict started, traffic has plunged by over 95%. Brent crude and UK gas prices have risen sharply as a result. (3/15)

The disruption is severe: Qatar’s giant Ras Laffan LNG plant was hit, knocking out 17% of its export capacity and triggering force majeure. Bahrain refinery attacked. Iraq has cut oil output too. (4/15)

Fertiliser, helium (vital for semiconductors), petrochemicals, sulphur and aluminium production have all been disrupted across the Gulf. The IEA has warned of the largest oil supply disruption in history. Fuel shortages in Europe could hit soon. (5/15)

The UK is especially vulnerable. Decades of policy have degraded our oil & gas industry, chemical sector and aluminium production. We no longer make our own ammonia for fertiliser. Coal, oil & gas still supply nearly three-quarters of our energy. (6/15)

Yet import dependence is rising while domestic production falls. Labour’s response has been feeble: a “Cheaper Fuel Finder” website, plug-in solar panels in supermarkets, and forcing new homes to install solar and heat pumps. The Chocolate Teapot response. (7/15)

At PMQs, Keir Starmer refused to overrule Ed Miliband and fast-track Jackdaw and Rosebank. Even the Tony Blair Institute, RenewableUK, Offshore Energies UK and some Labour backbenchers have called for more North Sea drilling. (8/15)

Critics claim the North Sea is a “mature basin in decline”. But official forecasts assume the current hostile tax and regulatory regime remains in place. With lower taxes and less red tape, production would fall far more slowly. (9/15)

OEUK analysis shows oil & gas reserves & resources could almost triple to 7.5bn boe from low case with a shift in policy. More domestic production would deliver well-paid jobs, tax revenue, improved energy security & lower prices by displacing expensive LNG imports. (10/15)

It would even reduce global emissions by avoiding the energy-intensive process of liquefying and shipping LNG. A rational response would include scrapping the 78% marginal windfall tax and ending the ban on new exploration. (11/15)

Also needed: lift the fracking moratorium, reform or scrap costly Scope 3 rules, cut carbon taxes and expensive renewable subsidies, and reduce fuel duty. These tax cuts could be funded by trimming EV and heat pump subsidies. (12/15)

The vote flushed out the enemies of energy security. Nearly 300 MPs (Labour, Greens, Plaid etc.) voted against more domestic energy. Lib Dem leader Ed Davey led his party in mass abstention. Nine SNP MPs – including some from hard-hit Aberdeen – also failed to vote. (13/15)

118 Labour MPs abstained too. Reform and Restore Britain MPs also refused to support the motion despite agreeing with its aims. Only 108 MPs backed it – mostly Conservatives. Prioritising Net Zero over energy security in this crisis is reckless. (14/15)

At best it is wilful negligence. At worst, tantamount to treason against the British people. If you enjoyed this thread, please like and share. You can sign up to read the full article on the link below (15/15)
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