The Labour Party has announced that it intends to stop the development of any new oil and gas fields in UK territory if it forms the next government.
The move will have far-reaching consequences, leading to a rapid contraction of the UK’s oil and gas industry over the next decade. So it’s no surprise that much of the reaction from newspapers, businesses and trade unions has been very negative. The current prime minister, Rishi Sunak, has gone so far as to call Labour’s proposed policy “bizarre” and the product of “eco-zealots”.
