RE: Straight of hormuz closed20 Apr 2026 10:39
Oil and gas are sold internationally. Everyone globally pays the same price. Extraction from our north sea basin doesn't alter market prices it all goes into the same pot and 90% of the north sea's oil and gas has already been extracted, making it a declining basin. If companies want to take the risks then let them drill Id say, but they will have to pay the price to do so and it may be a very poor return. We need all fuels and that also includes renewables and ammonia to become self reliant, energy secure as it's in our national interests. Simple as that.