Labour’s permanent ban on new North Sea oil and gas licenses sparks backlash over energy security and potential lost revenue.
The UK Conservative Party has criticized Labour’s decision to ban new oil and gas licenses in the North Sea, calling it a threat to energy independence. The policy blocks billions of barrels of untapped reserves, which the Tories argue could reduce reliance on imports and support domestic industry.
Labour’s move follows recent legislation to halt new drilling permits, drawing opposition from offshore industry groups. The Conservatives claim the ban undermines economic growth and fails to address long-term energy needs.
No immediate market reaction was reported, but the dispute highlights broader tensions over UK energy policy and fiscal strategy.