The leading trade body Offshore Energies UK (OEUK) today responds to the launch of the Labour Party’s 2024 General Election manifesto.

OEUK is an apolitical organisation that represents over 400 members across the UK’s energy mix, from oil and gas to wind, hydrogen and carbon capture technologies.

OEUK’s own industry manifesto is calling for all parties to choose a homegrown energy transition that safeguards jobs, boosts energy security and drives economic growth.

David Whitehouse, CEO Offshore Energies UK comments:
“Wealth creation is at the core of the Labour party’s manifesto and we believe the fastest path to that economic growth is by choosing a homegrown energy transition.

“While we share Labour’s ambition to make the UK a green energy superpower, the path to success is building on our existing industrial strengths and our 200,000 skilled people.

“An affordable net zero needs both renewables and our homegrown oil and gas sector. Ramping up more carbon intensive imports from abroad will not bring down energy bills for consumers or attract the investment and skills we need to decarbonise our economy.

“We’re concerned by proposals to end new oil and gas licences in UK waters. We are explaining to all parties that we need the churn of new licences for a successful homegrown energy transition, to safeguard jobs and our energy security and create the investment conditions firms need to stay here in the UK.

“We also need a globally competitive tax framework based on fair returns; windfall taxes undermine this. Labour has big ambitions and we need an investment environment to match.

“Labour’s manifesto carries many important proposals for our sector. We are ready to work to deliver a positive future for everyone in the UK. One where we reach net zero, grow the economy and support jobs and communities.”

KeyFacts Energy Industry Directory: Offshore Energies UK