Saudi East-West Oil Pipeline
Debate between Adam Dance and Martin McCluskey(1 week, 5 days ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Martin McCluskey
Let me take that in two parts. First, this is obviously a decision that has to be taken carefully. The Secretary of State has to a make an assessment and a judgment. The hon. Member will know that the evidence has to come to the Secretary of State for her to make that judgment, and that is what she will do in due course. He will also know, as I said in response to an earlier question, that the North sea basin is a declining basin. We have to prepare for the transition. We are still extracting oil and gas from the North sea, and that will continue for decades to come.
Adam Dance (Yeovil) (LD)
Residents in rural parts of Yeovil continue to raise concerns with me about the rising cost of domestic heating oil due to conflicts abroad. Prices have sometimes hit as much as £1.10 a litre. As the nights draw in and winter comes around, what steps will the Government take to develop a price cap for heating oil? Just giving money to local authorities is not good enough; it does not support everyone.
Martin McCluskey
The hon. Gentleman will, I am sure, have seen the Competition and Markets Authority report on heating oil, published before the recess, and its recommendations for the actions we should take. We are studying the recommendations and will have a Government response to them in due course. The CMA raised concerns, though, about the impact of a potential price cap. This market does not operate in the same way as the traditional gas and electricity market. We would need to carefully consider the perverse impacts that might result from a straightforward price cap. There are other recommendations in the CMA report that we are, as I said, looking at and closely studying to make sure that people who have been affected by heating oil price increases are protected. The previous Prime Minister was very clear that the heating oil market was not working as it should, and I agree. I look forward to publishing the Government response soon.