Liz Truss’s drilling frenzy won’t lower bills

Commenting on news reports that Liz Truss’s energy plan will include the issuing of up to 130 new drilling licences in the North Sea, Greenpeace UK’s chief scientist Dr Doug Parr said:

“Unleashing a North Sea drilling frenzy isn’t a plan to help bill payers but a gift to the fossil fuel giants already making billions from this crisis. New oil and gas could take a quarter of a century to pump out, will be eventually sold at global prices, and have no real impact on energy bills yet still fuel the climate crisis. [1]

“Our gas dependence is what got us into this mess and doubling down on it won’t get us out of it. New renewables are nine times cheaper than gas. [2] Turbo-charging renewables and fixing our energy-wasting homes by investing in insulation is the quickest way to reduce our gas dependence and bring energy bills under control.

“If Liz Truss really wants to help cash-strapped households, she should bring in an energy bill freeze alongside extra financial support for the poorest households, partly funded by properly taxing the astronomical profits of oil and gas companies.”