Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what proportion of the UK’s remaining 7.5 billion barrels of discovered undeveloped oil and gas resources can be exploited if the UK is to contribute to meeting the climate change goals set out in the Paris Agreement.

In the IPCC Special Report on Global Warming of 1.5˚C, all the scenarios reflect an ongoing role for some fossil fuel use, recognising the need to maintain a supply of energy to meet global demand.

The UK is currently a net importer of both oil and gas and our domestic supply is forecast to decline further in the future. Managing the declining production of our relatively small domestic basin, whilst reducing our overall consumption of fossil fuels is compatible with the UK’s obligations under the Paris Climate Agreement.