“We are going to get all our oil and gas out of the North Sea”, Conservative Party leader Kemi Badenoch said recently. Her promise to “maximise extraction” sets up a clash between political ambitions, economic reality and geological limits.
Reform UK has also said drilling for more oil and gas in the North Sea would be a “day one” priority. But even if the Conservatives or Reform were to be elected and lifted the current moratorium on new exploration licenses, there might not be the promised prizes of oil and gas under the seabed – or enough appetite from investors – to deliver on that promise.
