Oral Answers to Questions

Steven Bonnar Excerpts

Wednesday 12th July 2023 Commons Chamber

The Prime Minister was asked—

[Steven Bonnar (Coatbridge, Chryston and Bellshill) (SNP)]

Q1. Whether he has made an assessment of the impact of a potential reduction in oil production by Saudi Arabia and Russia on domestic energy prices.

[The Deputy Prime Minister (Oliver Dowden)]

I have been asked to reply.

Global oil prices have remained largely stable this year. This has not changed following the announcement of additional production cuts by Saudi Arabia and Russia. We expect that the impact of the cuts will be mitigated by the increase in supply from other producers and a decrease in global oil demand, as we have seen previously.

[Steven Bonnar]

If we want to insulate ourselves from future price rises, we need to invest in a greener future. The United States gets it: it has committed $370 billion to net zero energy. The European Union gets it: it is set to match that figure. In Scotland, we get it. We have the ambition to lead the world on renewable energy. We have the energy but not the power. Why is Westminster trying to block Scotland’s path to a safer, greener future?

[The Deputy Prime Minister]

We of course will continue to invest in renewables, but I say to the Scottish National party that we should also invest in our energy independence, and that means investing in the North sea. If we fail to invest in the North sea, we will be more reliant on foreign producers and we will have higher carbon emissions as we import from elsewhere.