A new Labour government must listen to the energy sector, a trade body has said.
David Whitehouse, chief executive of Offshore Energies UK, said the industry supports 200,000 jobs and he called on the Labour leadership to deliver on assurances to engage with the sector on energy transition if the party wins the General Election.
He said the new government must “listen to energy industry concerns about the UK’s fiscal regime and licences for domestic oil and gas production” as he warned of “chaos” if it is mishandled.
Labour has said it is against the granting of new oil and gas licences, and it has scrapped earlier plans to spend up to £28 billion annually on green energy.
Mr Whitehouse warned a mismanaged energy policy leading to a lack of investor confidence would “threaten decarbonisation”.
He said the industry is ready to invest £200 billion in wind, hydrogen, carbon capture and oil and gas by the end of the decade, and that the UK spent a net £42 billion importing oil and gas in 2023.
In a message to OEUK members, Mr Whitehouse said: “Decarbonisation of the UK economy can be one of the greatest opportunities of our time, with the potential to create wealth across every community in the UK.
“Details matter. Labour Party policies poorly managed and delivered without industry input could spell chaos for employment in this industry at a time when there are already concerns about the economy.
“Many of those working directly for producers and the wider supply chain are highly skilled. These people are mobile talent, and we need to keep them here or risk losing them to other countries, slowing down our transition at the benefit of others.
“We have the future offshore energy industry right here on our doorsteps. From Newcastle to Cardiff to Aberdeen, these people deserve to be part of decisions impacting this industry.
“The UK’s national debt currently stands at 100% of annual national income, the highest level seen in 60 years.
“The UK spent a net £42 billion importing oil and gas last year. We need policies that attract private investment, and not deter it.
“We should choose to prioritise homegrown energy production.”
Labour has been contacted for comment.
