Energy Markets

Luke Murphy Excerpts

Thursday 5th March 2026 Commons Chamber

[Ed Miliband]

My hon. Friend makes his point in a very eloquent and amusing way. It is so important to recognise that crises like this show that gambling on low fossil fuel prices is dangerous, because the impacts of geopolitical instability on his constituents and those across the country are so great.

[Luke Murphy (Basingstoke) (Lab)]

I welcome the Secretary of State’s statement, although I will gently disagree with one point. He said that he believes the Conservatives have failed to learn, or somehow forgotten, the lessons from Ukraine. I think that it is worse than that, and nothing more than short-term opportunism. They hoped that nothing like Ukraine would happen again and they forgot to learn the lessons, so bills were driven up and significant damage was done to our economy. Does he agree that the Conservatives’ short-term opportunism on energy security and national security is not in the long-term interest of our country?

[Ed Miliband]

I agree with my hon. Friend. It is incumbent on all of us to tell people, on the basis of the evidence, what we should be doing as a country. Today we have heard from Members of different parties a recognition that gambling on fossil fuels is incredibly dangerous.