If she wins the election next week, the Tory front-runner would approve a number of oil and gas licenses in the North Sea in an effort to increase the UK’s energy security.
The two Liz Truss supporters Kwasi Kwarteng and Jacob Rees-Mogg, who are still in the Cabinet, want to increase local output while simultaneously obtaining additional gas from Norway.
According to The Times, Miss Truss would likely accept applications for drilling licenses to explore new areas and might issue up to 130 of them if elected.
In order to maximize output in advance of winter, gas and oil corporations will also be pushed to make significant investments in their current locations.
If Liz Truss is elected next week, she would approve a number of oil and gas licenses in the North Sea in an effort to improve the UK’s energy security.
According to the most recent estimates, the North Sea has the equivalent of around 15 billion barrels of oil and gas, with British consumers using 1 billion barrels yearly.
A new Windfall tax on energy corporations has already been disregarded by Miss Truss, who said the proposal was “all about hitting industry.”
She said last week in the Daily Mail that she will lift the fracking prohibition as part of a strategy to turn the UK into a “energy-secure dynamo.”
Mr. Kwarteng, who is expected to become Miss Truss’ next chancellor, has long supported offshore drilling, much to the dismay of environmentalists.