What about energy security?published at 11:41 British Summer Time 31 July 2023
We heard earlier from government minister Andrew Bowie who mentioned the importance of energy security. Why is it considered so important?
Energy security was highlighted when Russia's invasion of Ukraine disrupted the gas market.
The reduction in Russian supplies increased demand for other countries' gas resources, causing global prices to soar, and pushing up consumer bills.
North Sea oil and gas production has been declining rapidly in recent years. In an effort to slow that trend, the government has confirmed it will award 100 new licences for oil and gas exploration. Hundreds more are expected to follow.
It argues that this will "secure our domestic energy supply and reduce reliance on hostile states".
Read more here.