The Energy Secretary is understood to be resisting the development of Rosebank, the UK’s largest untapped oil field, estimated to contain up to 300 million barrels of oil.
He is against new drilling licences despite concerns over impending fuel shortages, surging oil prices and diminishing stocks.
Despite growing pressure from opponents and his own Cabinet, including Rachel Reeves, the Chancellor, Miliband has also delayed a decision on a licence to drill at the Jackdaw gas field, which it is estimated could produce the equivalent of 6% of the UK’s future gas supply.
The move delays the decision until after the May local elections, which could trigger a Labour leadership battle where he has been mooted as a potential contender. On Friday, Miliband’s aides dismissed as “unfounded” suggestions that he was minded to approve Jackdaw.
Any block on North Sea drilling puts him at odds with not only Kemi Badenoch, who this week launched a “Get Britain Drilling” campaign, and Nigel Farage’s Reform, but also the SNP, whose leader, John Swinney, on Thursday reversed the nationalist party’s opposition to further oil and gas exploration in the North Sea....<<<Read More>>>...
