Consultation response: Oil and Gas Fiscal Regime Review

T&E is receptive to these considerations but notes several points in which the review is misguided. Firstly, one of the core tenets of the review – that oil will be needed up to and perhaps even post-2050 – is plainly wrong; secondly, that it does not note the recent and forthcoming advancements in batteries and alternative, sustainable fuels; and thirdly, that continued exploitation of oil and gas resources are necessary for energy security in the UK

Our response sets out details on our recommendations for a timeline to the end of oil and gas subsidies, building out UK grid-connected electricity capacity, speeding up the switch away from oil and gas burning devices, and applying fuel duty to jet and bunker fuel.