RE: Straight of hormuz closed20 Apr 2026 10:46
You’re comparing a global chokepoint that moves 20% of the world’s oil with the UK’s tiny, ageing North Sea basin. Even if we opened every undeveloped field tomorrow, the volumes are too small to shift global prices — which is why our bills stayed tied to global markets even when we produced far more domestically. The UK already gets 40% of its gas from its own waters and still pays global rates, so new drilling doesn’t protect us from price shocks, it just adds a few expensive, slow‑to‑deliver fields to a mature basin.