Whitehall sources have also made clear that the NSTA’s role and structures are likely to be reviewed and overhauled.
Presiding over new licences would have been deeply embarrassing for Mr Miliband, a committed opponent of oil and gas.
In a debate earlier this year, he said:
“Oil and gas licensing will not reduce energy costs for households and businesses … will not enhance energy security, and offers no plan for the future of the UK’s offshore energy communities.
It will ensure the UK remains at the mercy of petrostates and dictators who control fossil fuel markets and is entirely incompatible with the UK’s international climate change commitments.”
Mr Miliband and Rachel Reeves, the Chancellor, also pledged in opposition to raise taxes on UK oil and gas production profits from 75pc to 78pc and to slash the industry’s investment allowances.
The King’s Speech, at the state opening of Parliament on July 17, is expected to outline more of Labour’s plans for taxing UK oil and gas – including allowing existing fields to keep operating.
That has prompted eco-activists to step up their campaign against oil and gas developments.
On Wednesday activists from Just Stop Oil spread orange paint across three road junctions around Westminster. The group has also threatened to blockade airports through the summer.
Labour’s policies have also attracted widespread criticism from within the energy industry which points out that the UK spent almost £27bn on imports of crude oil and over £21bn on gas imports last year.
One leading analyst said:
“Right now the UK gets 75pc of its total energy from oil and gas and a lot of that already has to be imported.
The remaining North Sea oil and gas fields are absolute treasures and one day they will all be developed. These remaining fields could reduce reliance on imports.”
Oil industry insiders said any attempt to block legitimate licence applications “could result in a legal action for damages” by the affected companies.
Offshore Energies UK, which represents the industry, warned that UK production was already falling at eight percent a year but this would accelerate to 15 percent a year without new drilling – accelerating the surge in imports.
David Whitehouse, chief executive, said:
“We remain deeply concerned that some of the new proposals being put forward for our industry will undermine the energy transition we all want to deliver.
Labour’s leadership has recognised that North Sea oil and gas will be with us for decades to come and they have committed to managing this strategic national asset in a way that does not jeopardise jobs.
They now need to deliver on their commitment to support our industry.”
See more here telegraph.co.uk
Header image: Scottish Daily Express
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VOWG
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What bunch of fools, allowing an idiot to determine the energy security of the nation.
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DouweH
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This idiot is a total dick
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Kevin Doyle
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Quite sad.
The British were once the greatest innovators and industrious people on the planet.
Now, you are ruled by simple-minded children.
The upside is the Norwegians will still continue to profit from North Sea oil and gas. In fact, the Norwegians pay for all of their Socialist programs because of the income from North Sea oil and gas.
Meanwhile, Britain will continue its’ downward decline to become as influential and wealthy as Portugal, because you have uneducated morons voting for uneducated morons.
You will be conquered from within…
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